Siveco and the investment funds controlling 32% of its capital - Polish Enterprise Fund V and Intel Capital have retained international investment bank Lazard to look abroad for a buyer or investor for Siveco, financial market sources told ZF. In mid-June, Lazard London sent several investment banks a short presentation on Siveco, deeming it as a good acquisition opportunity. Cristian Nacu, representative of Enterprise Investors, the company managing the Polish fund, would not comment on information regarding the fact that Lazard is involved in finding a buyer for Siveco. He only said, "We are considering an exit from Siveco, and, if things go according to plan, we could have a deal by the end of the year." Siveco officials were not available for comment by edition's close. According to estimates by telecom analysts, Siveco's EBITDA exceeds 10 million dollars and, should the multiples from the international software market be applied (10-15), the company's value goes beyond 100 million dollars. In 2005, investment funds Polish Enterprise Fund V and Intel Capital took over 32.5% in Siveco Romania, the country's largest software producer, under a 12 million-dollar transaction, which included a direct stock acquisition and a capital increase. The Polish fund owns 22.5% in Siveco, whereas Intel Capital (a fund held by US company Intel) has 10%.
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