Channelnomics.eu: „Failed €51m merger pushes Polish integrator to bunkruptcy”

Qumak goes under after its merger with Euvic – which would have created one of the biggest CEE channel firms – falls through.

CEE integrator Qumak has filed for bankruptcy after its merger with fellow Polish channel firm Euvic was quashed by the Polish treasury, before its hunt for an investor also failed.

The first public signs that the PLN 220m (€50.85m) merger was in jeopardy were revealed in August in a filing on the Warsaw Stock Exchange.

Qumak indicated that now the merger had fallen through it was on the hunt for an investor to save the firm with a cash injection.