Within three years, the Wrocław-based company TETA intends to capture 30 percent of the market for enterprise resource planning (ERP) software for medium-sized businesses. Funds raised through a public share offering will help the company achieve its goals.
– I believe that TETA has matured enough to join the ranks of publicly traded companies. Entering the public market will allow for even faster company growth, increasing its credibility and prestige, as well as diversifying its sources of financing – said Jerzy Krawczyk, CEO of TETA SA.
The prospectus of the Wrocław-based company will be submitted to the Polish Securities and Exchange Commission (KPWiG) in the third quarter of this year. The company’s management expects the offering to bring TETA 5-7 million PLN. These funds will be allocated to the development of software for medium and large enterprises. – Our main goal is to create and launch a new product – an enterprise management system written in .NET technology. We believe this software will revolutionize the market – emphasizes Jerzy Krawczyk.
The debut of the first modules of the new solution is planned for the third quarter of this year. TETA will consistently invest in the development of systems responsible for the “soft areas” of human resource management.
This year, with sales revenues at the level of 36 million PLN (a 10 percent increase), Teta intends to generate 4.8 million PLN in net profit (a 40 percent increase). In subsequent years, the company plans an average annual net profit growth of 30 percent.