Largest Polish technology company continues to expand globally

Originally Published in June 2017

Asseco has developed technologically advanced software solutions for all key sectors of the economy for more than 25 years. It provides software and IT services to more than half of the banks in Poland, many of the largest Polish firms in the energy, telecommunications, financial and healthcare sectors, and it is the main player in the public administration segment. It is also the largest IT company listed on the Warsaw Stock Exchange, with a market capitalization exceeding 1 billion euros. In 2015 Asseco Group was ranked the sixth largest software vendor in Europe in the Truffle 100 ranking.

Asseco Poland leads Asseco Group, a federation of companies in more than 50 countries, with nearly 21,000 employees. Part of its strategy is M&A activity. The company has completed more than 60 mergers and acquisitions over the past decade, enabling it to expand rapidly into international markets. With a presence in most European countries, Israel, Japan, the United States and Canada, the company continues to grow.

Adam Góral, CEO and co-founder of Asseco, said, “The essence of development through acquisitions is not only geographic expansion, but also increasing the sectoral competence of the entire Asseco Group. Appearing in a new country, we draw on the knowledge and practices of local professionals.”

Góral graduated from the Kraków University of Economics, where he majored in economic cybernetics and IT. He then earned a doctorate in economics. After lecturing at Maria Skłodowska-Curie University in Rzeszów, Góral was involved with the Polish-American Project of Creating Entrepreneurship Institutes in Poland. He co-founded Asseco in Rzeszów in 1991. As CEO, he’s responsible for Asseco Group’s development and strategy. Góral’s career in computer science started with projects computerizing administrative functions for the banking sector. In the mid-1990s, each branch of a given bank tended to have its own system. His solution was to standardize account charts.

Asseco has developed software solutions for more than 25 years.

With a focus on emerging markets, Asseco has acquired companies in Russia, Georgia and Kazakhstan, among others. According to its international development strategy, Africa is one of the company’s key markets. Asseco has already signed the biggest contract ever for a Polish IT company in Africa – to computerize Ethiopia’s energy sector. Last year it also acquired a company that provides software solutions for banks in Angola, Mozambique and Cape Verde.

Asseco Group invests in R&D and in new, innovative solutions. In 2015 alone it allocated 136 million złoty in Poland and 508 million złoty in the whole Group. Asseco was recognized by the European Commission in its 2014 EU Industrial R&D Investment Scoreboard. Out of the four Polish companies in the listing, Asseco was ranked the highest. Asseco also cooperates with various universities, including the Rzeszów University of Technology and the University of Information Technology and Management to offer lessons, internships and projects. The company is also one of the founders of the Podkarpacki Business Club, one of the most active business organizations in Poland. It brings together more than 600 companies.