MainMarket in Brief

Rostelecom

Rostelecom Buys More Than 50% of Software Developing Company BFT-Holding

October 25, 2021, 16:29 (UTC+3)|
65

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)

Subject:

#deals

Companies:

#Rostelecom

Share:

Learn more about Moscow IT Market by subscribing to our newsletters

By clicking the button you agree to Privacy Policy

Unless otherwise stated, the content is available under Creative Commons BY 4.0 license

Supported by the Moscow Government