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On December 9th, 2019, the shareholders of Core Services finalised the sale of a 100% stake in the company to Astek, a French specialist in IT consulting services and technical engineering. The terms of the transaction remain undisclosed.

Core Services is a leading Polish provider of body leasing IT services and outsourcing solutions. The company’s offer includes amongst others the outsourcing of IT professionals as well as whole IT teams, agile software development and software maintenance, with a strong focus on solutions dedicated to the FIG sector. The transaction also includes ProsoftLab, a software house established by Core Services in October 2017.

Over the past four years, Core Services has enjoyed very strong organic growth and established itself as one of the leading IT outsourcing companies in Poland.

Astek is a global IT outsourcing player specialized in Engineering and Technology Consulting, with a focus on industrial, telecom and tertiary industries. Astek employs ca. 4,600 engineers and is present in 16 countries on 5 continents.

Thanks to the acquisition of Core Services, Astek passes €50 million of annual consolidated turnover in Poland in 2019 with a workforce of more than 1300 engineers dedicated to the local market. The transaction will also significantly strengthen Astek’s presence in Wrocław, bring new customers and unique expertise.

VCP acted as an exclusive transactional advisor to the shareholders of Core Services.

Source: VCP, 12/2019

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