TEE Ltd. PROCEEDED TO ACQUIRE & INCORPORATE NEW COMPANIES IN POLAND,ROMANIA AND EGYPT
TEMENOS EASTERN EUROPE Ltd in which INFORMER S.A. has 49% participation and the management of the company, proceeded to acquire and incorporate new
companies in Poland, Romania and Egypt for the support of its customers as well as for the expansion of its business activities.
TEMENOS POLSKA Sp.zo.o.
The company was incorporated in Warsaw, Poland, for the purpose of developing the sales as well as the installation, implementation and support of TEMENOS products in the banking sector of Central Europe (Poland, Hungary, Czech, Slovakia).
In view of the fact that these countries will enter the European Union and a reorganization of their infrastructure will take place in all sectors, especially the banking one, it is more than certain that the company will have great prospects for growth.
The decision to base the headquarters in Poland was based on the size of the banking market in the specific country and the business opportunities that are expected to appear. Poland is the largest country in the region, and over 66 banks and investment companies are established in it.
TEMENOS POLSKA Sp.zo.o. is a 100% subsidiary of TEMENOS EASTER EUROPE.
TEMENOS ROMANIA S.A.
TEMENOS EASTERN EUROPE Ltd purchased 51,58% of the total number of Logimax shares. Through this purchase TEMENOS EASTERN EUROPE Ltd has created a center for the purpose of promoting sales and providing local support of their products in the banking market of Romania and Moldavia.
Logimax S.A, which was renamed TEMENOS ROMANIA S.A, has originated from the consolidation of various local S/W companies and has been operating in Bucharest, Romania since 1994. The company is well known for its integrated solutions in information technology in Romania, and has been certified with ISO 9001/2000. Its activities include provision of services related to software development, installation, interfacing, customization, training, etc, provision of support to local customers and the offer of a large range of consulting services and the installation of integrated IT solutions in banks and other financial organizations.
Its business relationship with TEMENOS began in 1999, when it became a partner for the Romanian and Moldavian region. Over the years, the company developed a competitive and reliable group of banking and technical consultants, with extensive experience in software development, implementation, interfacing, conversion and training, as well as for the support of TEMENOS products (TEMENOS GLOBUS TM). This experience has been gained through the participation in several projects, either as a contractor or a subcontractor-member of a multinational group.
TEMENOS EGYPT S.A.E.
TEMENOS EASTERN EUROPE Ltd finalized the buy-out procedure of 50% of the total number of issued shares (with the right to increase its stake up to 70%) of Sigma Information Technology S.A.E. Sigma will change its name to Temenos Egypt S.A.E.
Sigma is an Egyptian company that provides consulting services and S/W development in the sector of integrated information technology systems. It was incorporated in 1992, in Cairo, Egypt by a group of experts in information technology systems. Its mission is to provide aid and/or assistance to various organizations in choosing effectively the development, customization, installation and operation of such systems.
The company provides its clients with solutions, which permit them to invest effectively in new business opportunities that are presented in the information technology sector and to obtain a leading position the highly competitive markets. The customer base includes well-known banks such as NATIONAL BANK OF EGYPT (NBE), SOCIETE ARAB INTERNATIONAL DE BANQUE (SAIB), COMMERCIAL INTERNATIONAL BANK (CIB) and large companies such as ESSO STANDARD MIDDLE EAST, EGYPT GAS, CHLORIDE EGYPT, etc. For this reason the company has been cooperating with large information technology manufacturers since 1992. At the same time it exports its know-how and expertise to the Middle East and the rest of the Arab world.
Having developed a successful methodology and an experienced staff, the company has become one of the faster expanding Egyptian companies in information technology sector.
