Asseco Poland exercised a call option for 3.35% of shares in IT Practice

On 3 February 2010 Asseco Poland increased its equity interest in the Copenhagen-based IT Practice to 55% by acquiring an additional 3.35% stake. The shares were purchased for DKK 2.4 million from the company's existing shareholders.

In August 2009 Asseco Poland acquired a 51.65% stake in IT Practice along with an option to buy additional 3.35% of shares in that company. The option agreement has been just executed. The exact cost of acquisition of the said stake of shares amounted to 2,417,098 Danish crowns. The payment shall be effected in two portions; the first payable on the agreement signature date and the second payable after publication of the audited financial results of IT Practice for the year 2010.

IT Practice is specialized in development of turn-key applications and software solutions as well as in provision of services within optimization of IT architecture and infrastructure. Customers of IT Practice include primarily banks, financial institutions and biotech companies such as Nykredit, PBS, Nordea, NovoZymes, Experian, JP Morgan Chase & Co, ING Bank.