Transition Technologies MS S.A. (TTMS), a rapidly growing provider of modern IT outsourcing services for renowned global companies and planning a debut on the Warsaw Stock Exchange (GPW), has announced a deal to purchase 55% of shares in the Swiss company, Pixel Plus AG. This majority package acquisition is in line with TTMS’s strategy to expand its international sales network. The board believes this acquisition will strengthen TTMS’s presence in the Swiss market and other German-speaking countries. The transaction will be financed through TTMS’s own funds. TTMS is part of the Transition Technologies Group, one of the largest Polish IT groups.
Pixel Plus AG is an IT firm based in Zurich, operational since 2015. It provides a broad range of IT services for well-known, international corporations whose primary headquarters are located in Switzerland. Pixel Plus also collaborates with rapidly evolving startups and scale-ups, where it is responsible for development strategy and implementations in the IT domain. The firm specializes in implementing projects based on Adobe Experience Manager (AEM) technology, advisory services, and delivering advanced IT solutions for the banking, public, industrial, and sports sectors. With their expertise and experience, Pixel Plus supports clients in creating effective and innovative digital platforms.
Pixel Plus AG fits in with TTMS’s growth strategy in the domain of foreign acquisitions. The company’s business model is consistent with TTMS’s operations, and their technological profile aligns with TTMS’s key competencies. High demand for modern IT outsourcing in Switzerland creates opportunities for these kinds of initiatives. The services offered jointly by TTMS and Pixel Plus will be based on near-shoring from Poland (outsourcing services to regions that are geographically and culturally similar), within efficiently collaborating Polish-Swiss teams. The transaction saw the involvement of Arthos Corporate Finance GmbH consultancy firm from Munich and the Sawaryn and Partners law firm.
The partnership with Pixel Plus AG marks another significant step in implementing the international growth strategy of the TTMS Group. I am convinced that this acquisition will accelerate the development of both companies. The direction pursued by TTMS is no coincidence – over 70% of the TTMS group’s sales in 2023 were to customers whose main headquarters are located in Switzerland. Having local representation will allow us to extend our collaboration with current clients and reach new ones operating in this attractive market. Switzerland has become the sixth country where we have a subsidiary, joining Poland, Denmark, Malaysia, the UK, and India. This transaction also brings us closer to achieving our main goal of becoming a global IT service provider,” says Sebastian Sokołowski, CEO of Transition Technologies MS S.A.
Acquisitions are an essential part of our strategy. It is worth reminding of the successful takeover in 2021, when TTMS signed an agreement to purchase 56% of shares in the Danish company ConCor A/S, a recognized IT outsourcing supplier in Scandinavia. Now, this company operates under the name TTMS Nordic and constitutes a crucial element in our growth in Northern Europe, recording increases in turnover and profitability,” adds Sebastian Sokołowski.
Transition Technologies’ development towards becoming a global international company represents a further stage of growth for the Group. The organization employs over 2,000 people and has its own branches or subsidiaries in the USA, Great Britain, France, Germany, Ukraine, Malaysia, Taiwan. The group focuses on modern outsourcing services for the largest foreign corporations and specialized deliveries and IT services for the energy and gas, industry, and medical sectors.
“Further international acquisitions are a natural step in the development of our companies. We establish companies in various countries that are managed by local managers, or we invest in majority packages of foreign firms. The solid beginning of 2024 is certainly not the end, we are planning further acquisitions in the USA as well as the organization of additional companies in India and the Middle East. The strategy of the TT Capital Group is part of a broader offensive of Polish IT companies that will slowly become more visible globally. Building a strong international position requires patience and a meticulous plan. We have it. Even before 2025, we want to be an IT company with revenues of at least PLN 1 billion, operating on six continents. Moreover, we strongly gain in the eyes of international partners due to our great emphasis on ESG and zero-emission issues, which we will achieve by 2025,” summarizes Prof. Konrad Świrski, CEO of the TT Group.
