Greek IT company Quality & Reliability S.A. (Q&R) has agreed to acquire a 51% stake in E-XIM IT S.A., a company listed on NewConnect, the alternative market of the Warsaw Stock Exchange, expanding its presence in Central and Eastern Europe and strengthening its position within the ServiceNow ecosystem.
The transaction is valued at up to 6.9 million euros and will be paid in five instalments. The first two payments are fixed, while the remaining three are contingent on the achievement of agreed financial targets.
The agreement also provides Q&R with an option to acquire an additional stake of up to 31.62% in 2029.
Following completion of the transaction, Q&R will hold 51% of E-XIM IT’s share capital and 58% of its voting rights. The Polish company will be fully consolidated into Q&R’s financial statements from the date control is acquired.
Strategic investment
Q&R said the acquisition represents another step towards its strategy of building a European technology group through targeted investments, strategic partnerships and leading technology platforms, enabling the company to participate in larger European projects and digital innovation initiatives.
“The acquisition of E-XIM IT is another strategic investment that confirms the consistent execution of our growth plan,” Q&R Group Chief Executive Panagiotis Paschalakis said.
“Poland, one of the European Union’s fastest-growing economies, is emerging as one of the most important technology and business hubs in Central and Eastern Europe. This investment creates a strong regional growth hub for the group. Our vision is to build a European technology powerhouse,” he added.
Financial impact
Founded in 2014, E-XIM IT specialises in the design, implementation and support of digital transformation projects with an exclusive focus on the ServiceNow platform.
The company holds two of the highest partnership accreditations within the ServiceNow ecosystem, as a ServiceNow Elite Partner (Reseller) and ServiceNow Premier Partner (Consulting & Implementation).
Based on its 2025 financial results, E-XIM IT represented approximately 19% of Q&R Group’s revenue, 18.8% of total assets and 22.1% of total liabilities.
The Polish company’s shareholders’ equity stood at approximately 450,000 euros at the end of 2025, equivalent to around 6.6% of Q&R Group’s equity, while cash and cash equivalents totalled approximately 80,000 euros.
E-XIM IT had no material bank or financial debt as of Dec. 31, 2025.
Its 2025 EBITDA was negative 920,000 euros, reflecting exceptional and non-recurring factors that Q&R said are not expected to affect the company’s future operating performance.
Following consolidation from the acquisition date, E-XIM IT is expected to contribute approximately 3 million euros to Q&R Group’s consolidated revenue in 2026, with a positive contribution at the operating level.
The final impact of the acquisition on the group’s consolidated financial statements will depend on the completion date of the transaction and the applicable accounting standards.
Broader technology ecosystem
The acquisition strengthens Q&R’s capabilities in enterprise digital transformation, IT service management and cyber resilience while marking the group’s entry into the ServiceNow ecosystem, one of the world’s leading enterprise AI and digital workflow automation platforms.
The enlarged technology portfolio combines artificial intelligence, cybersecurity, SAP, core banking and financial technologies, digital twin technologies, maritime intelligence, Internet of Things (IoT) solutions and the ServiceNow platform, expanding the group’s ability to deliver end-to-end digital transformation projects for large public- and private-sector organisations across Greece and Europe.
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