Poland

Grupa o2 and Innova Capital complete Wirtualna Polska acquisition

Grupa o2 and private equity fund Innova Capital have completed the acquisition of Wirtualna Polska.

The combined companies will operate on the market under the name Grupa Wirtualna Polska.
 
The management board of the new company is led by Jacek Świderski, while Łukasz Wejchert will support its development holding a seat on the supervisory board.
 
“We are becoming the partner of first choice for Internet users and advertisers. We offer a diversity of content-from news through sports, to entertainment and lifestyle, as well as mass services such as Poczta WP and Poczta o2, which have their loyal customer base,” says Świderski.
 
The management board of Grupa Wirtualna Polska will consist of Świderski, who will take the position of the chief executive officer, Michał Brański, Krzysztof Sierota and Elżbieta Bujniewicz.
 
“Thanks to the experience of people and brands involved in the Wirtualna Polska Group we have exciting opportunities in front of us. We want to innovate and bring online technologies to even wider audience. That's my top priority. I believe that the easiest way to continue as the leading player on the market is coming up with new projects. Hence my involvement in the Wirtualna Polska Group,” says Wejchert.
 
The group of investors of Grupa Wirtualna Polska will be joined by MCI Management, who through its sub-fund MCI Euro Ventures I, concluded an agreement with European Media Holding which allowed MCI to acquire a minority share in EMH, securing the equivalent of 20 per cent of shares in Grupa o2.
 
The brands WP.PL and o2.pl, as well as other brands in the Grupa Wirtualna Polska portfolio, will remain separate. The legal merger of the companies will be completed by the end of this year. 

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