Orange Poland announced an agreement to acquire the company Craftware, strengthening its B2B operations with exposure to the fast-growing CRM solutions market. The enterprise value of the acquired business is expected to be around PLN 110 million, and PLN 87 million is paid upon signing. The remaining part will be settled before the end of 2024 based on achieving certain financial targets at Craftware in 2021 and 2022 and other conditions.

The acquisition will be financed by Orange Poland from its own cash and available financing sources. The transaction does not require regulatory approvals. 

Craftware, in business since 2009, deals with analysis, design and implementation of customer relationship management (CRM) systems. It is experienced in implementation and integration of connected CRMs and specialises in the Salesforce platform. The Craftware customer base includes blue-chip companies from industries like pharma, FMCG, retail and finance. In the 12 months ended June, Craftware generated PLN 63 million of revenues and PLN 16 million of EBITDA. 

The transaction is another step executing on Orange Poland's strategy to expand its competencies in the business market with more value-added ICT services in order to meet growing demand from business customers for digital transformation. The acquisition of Craftware follows the takeover of BlueSoft in 2019. In 2019 Orange Poland generated PLN 731 million of ICT revenues, an increase of 31 percent year-on-year.