Kaspersky Lab increased its stake in New Cloud Technologies, the developer of the Russian office software MyOffice, from 47% to 61.05% by buying out shares from other shareholders. The value of the deal was not disclosed.

Kaspersky Lab explained that the acquisition of the controlling stake in New Cloud Technologies is in line with the “strategy to diversify the business”.

Andrey Cheglakov, Chairman of the Board of Directors of MyOffice, clarified that the transaction will not affect operating activities, “the company will continue to operate in its previous market segments in accordance with the long-term development strategy.”

Product cards

MyOffice

According to J'son & Partners, the Russian office software market size in 2020 amounted to $386 million (38.85 billion rubles), and until 2026 it will grow by 6-9% per year on average and will reach $599.5 (59 billion rubles).

Original (in Russian)