TSS agrees to buy additional stake in Poland's Asseco

(Reuters) - Total Specific Solutions (TSS) has signed a deal to buy a further 14.84% stake in Polish software firm Asseco Poland, which would make it its biggest shareholder, the latter said late on Tuesday.

TSS, a Netherlands-based software group, bought a 9.99% stake in Asseco from Cyfrowy Polsat at the end of January and once the deal is completed it will own 20,618,892 shares, or a 24.84% stake in Asseco through its unit Yukon Niebieski Capital.

The deal, subject to regulatory approvals, was done for 85 zlotys a share, the same price as the one with Cyfrowy Polsat.

"The involvement of a significant European partner and industry investor will accelerate growth and enable further expansion of Asseco Group's business operations," Asseco said in a statement.

The Polish firm's CEO Adam Goral added that it will help it compete for bigger market share "in a time of increasing dominance by global software giants."

Goral's foundation, which owns a 10.01% stake in Asseco has signed a shareholder agreement with TSS, Asseco said.

According to the agreement, TSS will not exceed a maximum 27.96% stake in Asseco's share capital.

Asseco will stay a public company listed on the Warsaw bourse, with Adam Goral remaining at its helm.

($1 = 4.0478 zlotys)

(Reporting by Anna Pruchnicka; Editing by Sonia Cheema)