25.03.2013

In compliance with the preliminary contract signed on 25 March 2013, 20.39 percent of shares of Tell S.A. (entitling to 32.11 % of votes at the Annual Shareholders’ Meeting), a company quoted on the Warsaw Stock Exchange owned by Impera Capital, will be transferred to Neo Investments Fund. The new investor intends to build one of the largest companies rendering business services in Poland.

Neo Investments Fund, as the shareholder of Outsourcing Experts (OEX) holding, operates actively inter alia in the field of sales & marketing process outsourcing, call centre and back-office. Neo Investments will pay about PLN 12.8 million in cash for the shares of Tell S.A. The ultimate finalisation of the transaction depends on a number of condition precedents. The most important ones include a positive result of due diligence examination and adoption of a resolution on increasing the share capital by the amount of PLN 1,220,000.00 through private issuance of 6,100,000 shares that will be addressed to shareholders of OEX Group by the Extraordinary Shareholders’ Meeting of Tell S.A.

Activity of Tell S.A. is currently focused on running outlets that sell services and devices for mobile telephone operators. Winning a strategic investor that operates actively on the prospective Business Process Outsourcing (BPO) market will provide the stock exchange company with new development possibilities. The transaction constitutes the chance for building the largest entity on the professional business service market in the country. Moreover, combination of retail sales competences with competences and technological infrastructure in the BPO sector possessed by Outsourcing Experts will allow Tell S.A. to increase its business effectiveness significantly.

‘We are a long-term and important partner for telecommunication companies. The offer of Outsourcing Experts includes a couple of supplementary sales channels, inter alia sales via the phone, the Internet or the sales representatives’ network. Thanks to the merger, we will be able to propose a wider range of services to our clients’ – said Rafał Stempniewicz, the President of the Management Board of Tell S.A. – On the other hand, OEX may support Tell in terms of operations in the field of logistics or back-office, due to which we will also obtain the effects of operating and cost synergy’ – he added.

Purchase of a significant package of shares from their previous owner – Impera Capital – is another stage of the Polish BPO market consolidation conducted by Neo Investments.
In 2012, the Outsourcing Experts holding, one of the largest entities operating in the field of outsourcing services in the country, was established upon initiative of Neo Investments.

The Polish BPO market has been developing dynamically for a couple of years, increasing its value by about 15 percent annually. It results from the growing number of companies interested in using this type of services as well as from expanding the scope of the previous contracts.

‘We see clearly that complex services offered to business clients by one supplier become more and more popular. This is why I believe that the purchase of shares of Tell and its final merger with the potential of OEX Group will allow us to create a new value on the market and to respond to the expectations of our clients’ – said Jerzy Motz, the Managing Partner of Neo Investments Fund.
Thanks to combination of the potentials of OEX Group and Tell S.A., the companies have the possibility to expand their offer of professional business services.

Tell S.A. has been operating on the telecommunications market since 1997. Since 2005, it has been quoted on the Warsaw Stock Exchange. The company has the biggest chain of sales outlets in the country, operating under the brands of leading mobile telephony operators in Poland. Apart from permanent sales places, Tell S.A. offers also individual service of business clients as well as post-sale care.

Neo Investments invests in industries having great growth potential. The business process outsourcing market is one of the key fields of fund’s operation. In 2011, after the merger of companies owned by Neo Investments (Cursor, Galposter, Voice Contact Center) and SilQuern Holdings (ArchiDoc and Call One), Outsourcing Experts (OEX) – one of the largest entities on the outsourcing market in Poland – was established. At the beginning of March 2013, Divante – a supplier of innovative e-commerce solutions – joined the structure of OEX Group. Preliminary consolidated financial statements of OEX for 2012 indicate almost 10% growth of income of the Group in relation to 2011 (over PLN 184 million) as well as net profit exceeding the amount of PLN 9 million.