CEE M&A Monitor
IT services · software development Poland Share purchase for new shares — completed 29 Sep 2026

Euvic takes full control of SOFTIQ for PLN 60.7m in its own shares and buys 50.1% of Vayana on the same day

Warsaw-listed IT group Euvic S.A. of Gliwice reported on 29 September 2026 (current report 45/2026) that it had signed an agreement to acquire 444 shares in SOFTIQ sp. z o.o., also of Gliwice, representing 75.51% of the share capital, for a total of PLN 60,660 thousand. Payment is a contribution in kind: the sellers bring their SOFTIQ shares into Euvic in exchange for new Euvic shares issued under a capital increase. In its report on the competition clearance (42/2026 of 16 September) Euvic gave the number of new shares as 2,904,236. The transfer takes effect on 29 September 2026; together with the shares it already held, Euvic now owns 100% of SOFTIQ. The President of UOKiK, the Polish competition authority, approved the takeover of control (decision of 16 September 2026). According to PAP Biznes, Euvic held 144 shares, or 24.49%, when it filed with UOKiK in August. In a second report the same evening (46/2026) Euvic said it had acquired 501 shares, or 50.1%, in Vayana sp. z o.o. of Warsaw for PLN 6,011 thousand, also paid in new Euvic shares, effective the same day. Neither report describes the business, revenue or profit of the two companies. Four days earlier Euvic had bought Fellowmind Poland.

Our take Euvic is doing what many listed consolidators do: paying for companies with its own shares rather than cash. For the sellers, this means they are not really exiting — they swap a stake in a private company for a stake in the listed group, and their payout depends on how Euvic shares perform. The SOFTIQ price also shows how a minority stake becomes a full takeover: Euvic first held about a quarter, then bought the rest at a price implying roughly PLN 80 million for 100%. For a listed buyer, the lesson is that paying in shares can support a higher headline value than a cash offer, while the seller's real price is known only when the new shares can be sold. Vayana follows a different pattern: 50.1% for control, leaving 49.9% with the existing owners to keep them in the business.
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