Intema (a subsidiary of MTS) will acquire the developer of computer vision systems VisionLabs. The deal will amount to about $95,2 million (7 billion rubles). According to the press service of Sberbank, the total amount may change based on the achievement of VisionLabs' targets within three years.

The structure of the deal is as follows: MTS will buy back a 51.77% stake from the founders of VisionLabs, 25.07% from Sber, and 23.16% from Sistema's venture capital fund Sistema VC. Currently, Intema has signed a binding agreement and is awaiting regulatory approvals. The deal is expected to close in 2022.

VisionLabs will continue to operate independently, as well as maintain the same business strategy and team. Co-founder of the company Alexander Khanin will remain the head of the board of directors. As the President of MTS Vyacheslav Nikolaev specified, the purchase of the developer will help MTS unleash the potential of its own ecosystem.

According to Lev Khasis, First Deputy Chairman of the Management Board of Sberbank, the partnership with VisionLabs will continue in a number of key areas: face and gesture recognition for SberPortal, as well as within the SmartBio biometric platform.

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Vyacheslav Nikolaev, the President of MTS

Lev Khasis, the First Deputy Chairman of the Board of Sberbank

Alexander Khanin, Co-founder of VisionLabs

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VisionLabs

MTS created the Intema company “to develop market products related to artificial intelligence technology and operate on international markets,” according to RBC. In September, it was reported that Sberbank was planning to sell its stake in VisionLabs at the end of September.

Original (in Russian)