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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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TTMS India – our first year in Bengaluru
Our Global Delivery Center, TTMS India, was established in July 2023. This means that we have just completed the first year of operations at our Bengaluru branch, known as the “Silicon Valley” of India. We have served entities in the sectors of: IT Pharma FMCG Public utilities In its first year of operations, TTMS India has executed projects in the areas of application development, analytics, data (data migrations, database services, data integration), and consulting.
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GK TT – high positions in the Computerworld TOP200 ranking
The Transition Technologies Capital Group, of which Transition Technologies MS S.A. is a part, maintained its leading position, remaining the largest provider of services to the energy sector in 2023. The classification – as every year – was published by Computerworld. Also worth noting: 2nd place (up 3 positions) in the ranking of companies generating revenues from utilities services (excluding energy) increase by 3 positions in the classification of the largest IT companies operating in Poland (currently 34th place) 6th place in the classification of IT companies with the largest employment (increase by 1 position) maintaining the 3rd position in the classification of IT companies with the highest expenditure on R&D maintaining the “medal” place in the ranking of the largest outsourcing companies (3rd place) maintaining the 8th place in the classification of the largest suppliers of BI, Big Data and Data Discovery systems maintaining the 5th position among the largest providers of solutions and services for the public administration sector maintaining 10th place among the largest cloud service providers Computerworld TOP 200 is a comprehensive report on the Polish ICT industry, providing detailed analyses and market assessments. The report contains information on the most important companies, technologies and trends shaping the ICT sector in Poland, enabling a deep understanding of the dynamically developing industry.
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We assume an increase in the pace of foreign expansion – CEO Sokołowski for “Parkiet”
TTMS is analyzing other entities for acquisition and is considering a debut on the Warsaw Stock Exchange. In an interview for the “Parkiet” portal, the company’s CEO Sebastian Sokołowski emphasized: “Entering the Warsaw Stock Exchange is one of the options we are considering in the context of raising capital for further development.” The company is dynamically developing its foreign technology centers, including in Malaysia and India, and is making acquisitions. “We have already purchased the Danish company ConCor and the Swiss Pixel Plus, which strengthens our position on the international market,” says the president. Sokołowski also announced that TTMS plans to increase employment to about 1,000 employees by the end of 2024, noting that this development is possible thanks to investments in new technologies and acquisitions that will contribute to further growth and strengthening the company’s position on the global market. The company aims to strengthen its position as a leader in the technology industry, both domestically and internationally. As the CEO emphasizes, the final date of the IPO depends “of course on the current market situation. What remains unchanged is that introducing TTMS to the Warsaw Stock Exchange is one of the ways of raising capital that we are considering.” The entire interview with the president of TTMS can be found on the Parkiet portal.
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We publish the ESG report for 2023
In the annual ESG report, we present our activities in the areas of Environmental, Social, and Governance. The presented report is the fourth non-financial (ESG) report prepared and published by Transition Technologies MS SA along with its subsidiaries. This year, the following companies are included: TTMS Software UK Ltd (United Kingdom), TTMS Software Sdn Bhd (Malaysia), TTMS Nordic A/S (Denmark), TTMS Software India Private Limited (India). The report was prepared using GRI Standards 2021 indicators. It covers the year 2023, i.e., the period from January 1, 2023, to December 31, 2023. It was not subject to external auditor verification, but the company took all due care to ensure the information presented is reliable. Go to the ESG report for 2023 ESG Strategy As Transition Technologies MS, we have developed and adopted an ESG strategy until 2025. It is based on six pillars, which are also the main goals: We want to offer safe, high-quality digital services We want to attract exceptional people and work in a unique, non-corporate atmosphere We want to build diverse teams that respect people of different genders, cultures, and religions We want to share our success with the community We want to operate in an environmentally neutral manner We want to ensure the highest management standards. More about our sustainability goals can be read here.
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