Fund services provider Zedra has agreed to buy Awans Corporate Services, a corporate services firm in Poland.
Awans provides a range of services including accounting, business advisory, payroll management, incorporation services as well as cash management, among others.
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Upon deal closure, the firm will adopt the name Zedra Poland.
The acquisition will increase Zedra’s presence to 14 countries. Financial terms of the transaction were not divulged.
Awans managing director Bartek Bielski said: “The opportunity to become part of ZEDRA, with its proactive and positive ‘do more, achieve more’ approach, and getting access to its international network of professionals is one which we found compelling and certainly in the best interest of our staff and clients.”
As part of the deal, employees and clients of Awans will move to Zedra increasing the latter’s workforce to more than 550.
Awans founder Piotr Augustyniak will assume the role of head of Central Europe at Zedra.
Zedra CEO Ivo Hemelraad said: “This latest deal will mark our first move into the vibrant and fast growing Central European markets. With a population of nearly 38 million, together with a strong tradition for business startups and growth, we see Poland as a dynamic and important new market for ZEDRA.
Last month, Zedra announced the acquisition of BNP Paribas Singapore Trust.
