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ATM S.A. capital group acquires KLK Technologie Informatyczne Sp. z o.o.

The investment agreement between ATM S.A. (ATM) and KLK Technologie Informatyczne Sp. z o.o. (KLK), signed on October 24, 2006, was implemented on October 31. Under the agreement, ATM has acquired from the former shareholders a controlling block of KLK shares.

In result of the transaction, ATM has purchased 78.74% of the KLK stock for the amount of PLN 14,960,000. The payment will be effected in two installments: the first one includes payment of PLN 6,754,440 in cash, and the second one, in the amount of PLN 8,205,560, will be settled through acquiring by the former KLK shareholders a part of newly issued ATM shares (the issue is planned for Q1 2007). The remaining 21.26% of KLK stock will be kept by the existing shareholders who seat in the company Executive Board.

KLK Technologie Informatyczne Sp. z o.o. is a provider of IT services and one of the longest-operating IT system integrators in Poland. The company focuses on consulting, design, deployment, and maintenance services in the area of advanced power-supply systems, telecommunication networks, and computer systems. KLK has been achieving a stable growth rate and regular good bottom lines. In 2005, the company sales were PLN 40 million and its net profit exceeded PLN 1.8 million.

The two companies share a similar history and organizational culture which should facilitate cooperation between both teams. At present, ATM does not intend to integrate the structures of both companies. Rather, they will operate autonomously and focus on obtaining synergy in increasing the sales. The markets on which both companies operate have a large growth potential, particularly in the context of combined competencies of the two entities. The complementary portfolio of ATM and KLK products in the integration area, the strong position of ATM in the telecommunications sector, and the significant position of KLK in the financial sector, as well as the good position of ATM in central Poland and of KLK in the southern part of the country, all contribute to increasing the chances for a significant improvement of the bottom lines of both companies. Examples of benefits which may be obtained include: increasing the margin by offering more comprehensive solutions, increasing the KLK revenues from the telecommunications sector, increasing the ATM revenues from the financial sector, ensuring a unified service standard throughout the country, and reaching the customers more efficiently. The executive boards of both companies are convinced that KLK has real chances to improve its growth rate thanks to the cooperation with ATM.

Comparison of the companies

(Data for 2005) ATM KLK
Net profit PLN 19,250 thousand PLN 1,836 thousand
Revenues PLN 119,551 thousand PLN 39,716 thousand
Employment 221 82
Company capital PLN 75,813 thousand PLN 5,986 thousand

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