„Qumak bids for Euvic merger to create CEE IT behemoth”

Polish systems integrator Qumak has filed a bid to merge with Polish outsourcer Euvic Group which, if approved, would create one of the largest IT firms in the CEE.

Under current plans, Qumak would get a 100 per cent stake of Euvic, in exchange for Euvic shareholders receiving a majority stake in Qumak.

Euvik already has a stake in Qumak, when it shelled out PLN 30m for a share of more than 10 per cent in the company as of September 2017.

Both parties estimate that the value of the 100 per cent stake of Euvic will not exceed PLN 220m (€52.44m).

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