Rostelecom Group acquired a 50.01% stake in BFT-Holding, which develops software and design solutions for the public sector and business. The transaction amount will not exceed $23.5 million (1.65 billion rubles). According to the press service of Rostelecom, settlements will be carried out in three tranches until 2023 if the relevant conditions are met.

As a result of the transaction, BFT-Holding will become a subsidiary of Rostelecom within the group, while retaining key personnel and competencies.

As the President of Rostelecom Mikhail Oseevsky noted, the deal will solve the problem of "consolidating competencies in the field of custom development of digital solutions and the creation of digital products for state and municipal administration."

Original (in Russian)