ASSECO POLAND SA

Additional Details

Asseco Poland S.A., listed on the Warsaw Stock Exchange (WSE) is a Polish multinational software company that holds a majority stake in Formula Systems, a publicly traded Israeli IT solutions provider listed on both the Tel Aviv Stock Exchange (TASE) and NASDAQ. Through Formula Systems and its subsidiaries, Asseco is connected to multiple IT and technology services provided to the Israeli military, the Ministry of Defense, and various governmental authorities. Formula Systems’ subsidiary, Matrix IT, is a publicly traded Israeli information technology company operates globally in IT solutions, services, consulting, and management. Matrix IT provides extensive services and works in close cooperation with the Israeli Ministry of Defense, the military, security forces, as well as municipal authorities in Israeli settlements. Additionally, Formula Systems jointly owns TSG IT Advanced Systems alongside Israel Aerospace Industries (IAI). TSG is an Israeli cybersecurity and defense technology company that develops a command-and-control system utilized by several settlement municipalities in the West Bank. In 2019, TSG conducted a technological demonstration for the Israeli military, showcasing the company’s computer vision and geolocation capabilities for military intelligence applications. According to the company, the military initially intended to deploy these technologies in the Nablus area of the West Bank. -- ASSECO POLAND SA is backed by leading sovereign wealth funds, most notably NBIM.