FARA ASA strengthens its presence in Poland and opens its own office and signs a new strategic alliance with Asseco S.A.

FARA ASA, the leading supplier of IT solutions to the public transport sector in the Nordic countries, has established a subsidiary in Poland. The wholly-owned company is called FARA Polska. FARA has so far cooperated with a Polish company in relation to sourcing of resources that have worked on developing FARA software products. These resources will now be employed by FARA Polska. FARA sees Poland as an attractive market for the years to come and will invest in expanding the sales and software development capabilities in this subsidiary.

FARA ASA and Asseco S.A. have entered into a strategic alliance to deliver integrated IT solutions to the public transport sector in Poland. Asseco Poland S.A. is the largest IT Company listed on Warsaw stock exchange. It is also a major player in the European software industry. The Asseco Group, with an income of EUR 430 million, delivers proprietary software and IT services and was ranked eight of the “TOP100 European Software Vendors” (published by Truffle Capital) in 2009.