One of Poland’s largest technology groups is preparing to finalize a reverse takeover of EO Networks SA, currently listed on NewConnect. Following the transaction, Euvic SA will debut on the market as the second-largest company by capitalization.
The companies in which Euvic SA holds stakes employ nearly 6,000 people. The Group’s management emphasizes that the next phase will focus on consolidation, professionalization, and further acquisitions.
Under the announced plan, the listed EO Networks SA will merge with privately held Euvic SA. The listed company will then change its name to Euvic SA. The combined entity will rank second on NewConnect (after PGM SA) with a market capitalization of nearly PLN 700 million and consolidated annual revenues exceeding PLN 750 million*. For Euvic, the reverse takeover marks the beginning of broader consolidation within the Group and signals to the market that one of Poland’s technology leaders is entering a new phase of growth.
“Our previous plans are now taking real shape, though in a slightly different form than originally assumed. We run a fundamentally healthy, growing, and modern business with a significant share of exports. Having gained experience as a Group, the time has come for true consolidation. A listed structure will certainly make this process easier. We are already considering a move to the main Warsaw Stock Exchange and raising additional capital,”
said Wojciech Wolny, CEO of Euvic SA.
Ambitions Beyond Poland
Euvic’s management plans further consolidation of the Polish market, but ambitions extend abroad. After the stock market debut, the company intends to raise capital for a major international acquisition.
According to Vice President of the Management Board, Łukasz Czernecki, talks with a potential target are becoming concrete. Listing will also allow Euvic to introduce an employee stock option program for key staff, enhance credibility with contractors, and provide greater flexibility for shareholders.
Valuation Drivers
The valuation of Euvic SA in the reverse takeover reflects shareholdings in several fast-growing companies within the Group. The core Euvic business has been valued at over PLN 200 million. Additional contributions to the PLN 688 million valuation come from other profitable, growth-oriented tech companies, including:
- Euvic IT SA – PLN 97 million
- E1S – PLN 70 million
- Sirocco Mobile – PLN 28 million
- Softiq – PLN 23 million
- Speednet – PLN 21 million
International subsidiaries also add to the valuation: Euvic Sweden (PLN 16 million), Euvic USA (PLN 12 million), and Euvic Ukraine (PLN 28 million).
Additionally, under the agreement, Euvic SA will soon acquire 50.1% of Senetic SA, which generates over PLN 600 million in revenue and PLN 15 million in profit.
With this consolidation, Euvic is positioning itself as a key player not only on NewConnect but also in the broader Central European tech sector.
Disclaimer: The information contained in this publication is for informational purposes only. It does not constitute financial or investment advice and should not be relied upon without seeking independent professional consultation.
Source: CEO.com.pl
