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TTMS Confirms Plans for IPO on Warsaw Stock Exchange
Transition Technologies MS (TTMS), a key player in the IT industry and part of the Transition Technologies Group, has announced plans to proceed with an initial public offering (IPO) on the Warsaw Stock Exchange (WSE) in the coming weeks. The company, which provides IT solutions and outsourcing services, will issue new shares as part of the offering, with final terms being confirmed after receiving regulatory approval from Poland’s financial market regulator (KNF). CEO Sebastian Sokołowski highlighted that the IPO is one of the strategies to raise capital to support TTMS’s continued growth, particularly in areas like cybersecurity, big data, and cloud computing. “Entering on WSE is one of the options to raise capital for growth of the TTMS group. We operate in a promising IT market. We develop our competences and implement systems based on artificial intelligence. We also focus on the development of the most desirable technologies, such as cybersecurity, big data and cloud computing. We cooperate with clients on the basis of long-term contracts, mainly in the managed services model. We are developing dynamically, supporting the digital transformation of the world’s largest companies from demanding industries such as pharmaceuticals, industry, education and defense.” Sokołowski said in a statement. TTMS, which operates five subsidiaries across the UK, Malaysia, India, Denmark, and Switzerland, reported solid financial performance in 2023, with adjusted EBITDA reaching 30.4 million zlotys ($7.74 million) and revenues exceeding 217 million zlotys. In the first half of 2024, the company’s adjusted core profit saw a 2.3% year-on-year increase, totaling 13.6 million zlotys. TTMS also plans to maintain a steady dividend policy, intending to allocate at least half of its annual profit for dividends, depending on market conditions. In 2023, the company distributed 12 million zlotys among its shareholders. TTMS joins a growing list of Polish companies planning IPOs, including convenience store chain Żabka Group and medtech firm MediSensonic, which are also preparing for their debut on the Polish bourse. Details of TTMS’s IPO, including specific share issuance parameters, will be provided when the prospectus is published after KNF approval.
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TTMS with NCBR Framework Contract for IT Systems
The consortium offer of Transition Technologies MS and Transition Technologies-Software turned out to be one of the most advantageous in the National Centre for Research and Development (NCBR) tender, related to the procurement of support for IT systems. The framework agreement signed on this basis entitles TTMS to submit bids in response to the contracting authority’s invitations. The implementation orders will cover services related to the implementation, maintenance, development, and support of IT systems that support the functioning of NCBR. After evaluating each bid, the contracting authority will sign an implementation agreement with the contractor who presents the most favorable offer. The NCBR, in the framework agreement, has outlined tasks requiring significantly diversified IT competencies – such as creating IT system architectures, managing IT projects, and automation, as well as machine learning, cloud solutions, and big data. “We were able to meet such a broad scope of the tender thanks to the unique experience our TTMS team has gained in long-term projects for highly demanding sectors, such as the pharmaceutical and defense industries, and for industry, said Sebastian Sokołowski, CEO of TTMS. The framework agreement with NCBR has been concluded for a period of 36 months or until the financial limit of the contract is exhausted. The maximum value of orders that may be awarded to TTMS is PLN 15.6 million.
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New TTMS office in Łódź
We are pleased to announce that we have opened a new office in Łódź. It is located at Stefana Żeromskiego 94C Str. Our previous headquarters in Łódź was located at Piotrkowskiej Str. Currently, our company has 9 offices in Poland.
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Another Successful ISO 27001 and ISO 14001 Audit
We are pleased to announce that on March 15, 2024, we underwent another supervisory audit of our management system in accordance with the ISO 27001 and ISO 14001 standards, conducted by TÜV Nord. The auditors did not find any discrepancies. What does this mean for our customers and partners? Maintaining ISO 27001 and ISO 14001 certifications guarantees that TTMS is a trusted partner that places great importance on data protection and operates in a sustainable and responsible manner. Our commitment to adhering to international standards reflects our mission to deliver services of the highest quality while minimizing our impact on the environment. Having ISO certifications not only distinguishes us from the competition but also allows us to optimize our internal processes. Thanks to regular audits and continuous improvement, we are able to manage our resources even more efficiently, which translates into better quality services for our customers. Our goal is not only to increase competitiveness and build trust, but also to continuously develop the organization on strong foundations. By adopting the ISO 14001 standard, we focus on improving the ecological awareness of our employees and gaining the trust of local communities. In turn, the 27001 standard increases information security and management efficiency – Marcin Kraska, COO Quality, TTMS Further Certifications Adhering to ISO 27001 and ISO 14001 standards significantly lowers the risk associated with information security and environmental impact. We are already preparing to implement the new edition of the ISO 27001 standard, ensuring that we stay up-to-date with the best practices and are ready to meet future challenges. Quality Management with TTMS Based on many years of experience, Transition Technologies MS supports clients in implementing management systems, prepares them for certification audits and maintains compliance of processes with the implemented standards. It offers a multidimensional service consisting of: computerized system validation, equipment and process qualification, ensuring safe IT and production processes, audits. You can read more about TTMS services related to quality management here.
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TTMS with a majority stake in the Swiss company Pixel Plus AG
Transition Technologies MS S.A. has entered into an agreement to purchase 55% of shares in the Swiss company Pixel Plus AG. Pixel Plus, established in 2015 and based in Zurich, specializes in projects utilizing Adobe Experience Manager (AEM). The company also offers consulting services and creates IT solutions for the banking, public, industrial, and sports sectors. For the Polish firm, the Swiss market is one of the key areas – over 70% of TTMS Group’s total sales in 2023 were directed to clients whose main headquarters are located in Switzerland. The acquisition of a majority stake will assist in maintaining relationships with existing clients and reaching new ones, as was the case with the opening of TTMS offices in India and Malaysia and the acquisition of ConCor A/S in Denmark. This successful acquisition brings TTMS closer to achieving its main goal of becoming a global IT services provider.
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TTMS – a certified HRDC training provider in Malaysia
We are proud to announce that our company has become a certified training provider for the Human Resource Development Corporation (HRDC) in Malaysia. The HRD Corp is a governmental agency aiming to enhance the skills of the private sector workforce, consequently supporting the economic development of Malaysia. It is funded by employer contributions, requiring employers to allocate the equivalent of 1% of employee wages. Companies can only use these accumulated funds for training offered by selected, certified entities. Transition Technologies MS is now on this list of certified providers. What does this mean for us? This opens up access to training contracts in the Malaysian commercial sector, which, using its accumulated funds, enhances the competencies of its employees. We have already started fulfilling our first contracts, which include soft skills training. These trainings will complement our e-Learning offerings, as we aim to ultimately provide services in both areas. The HRDC certification in Malaysia confirms our growing position and credibility in the local market. Achieving HRDC certification is a testament to our commitment to excellence in training and development, ensuring we meet the highest standards for businesses in Malaysia – comments Krzysztof Zapała, TTMS Operations Director and Office Manager in Malaysia. The TTMS branch in Kuala Lumpur has been in operation since 2017. More about HRDC The HRDC organization strives to create a competent, qualified, and productive workforce that contributes to the increased competitiveness of the Malaysian economy. Collaborating with various training providers and conducting their certification, HRDC offers various developmental programs tailored to the needs of the labor market. These programs include both technical training and soft skills development.
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