Asseco Poland SA
ACP
Financials
2
exclusion reasons
1 theme
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Asseco Poland SA owns a majority stake in Israeli company Formula Systems, which provides cybersecurity and IT services to illegal Israeli settlement councils, the Israeli military, and the Israeli Ministry of Defense. Formula Systems' subsidiary Matrix IT operates an outsourcing branch in an illegal settlement in the occupied West Bank and was contracted by COGAT in 2017 to provide biometric identification targeting Palestinians. Formula Systems also co-owns TSG IT Advanced Systems with Israel Aerospace Industries, a cybersecurity firm that developed a command-and-control system installed in dozens of illegal settlements. In 2020 Matrix won a tender to supply a High-Performance Computing Cluster to Ariel University in the settlement of Ariel. The AFSC and Who Profits databases document these operations as direct support for the Israeli occupation.
Asseco Poland owns Formula Systems which owns Matrix IT (outsourcing branch in a settlement, biometric ID project targeting Palestinians) and TSG IT Advanced Systems (command and control system in dozens of settlements, developed with Israel Aerospace Industries). Listed in OHCHR 2020 database. Triggered divestment at SF State and Fresno State.
Research Sources
3 organizations
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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
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