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Sberbank to Sell its Stake in VisionLabs Back to AFK Sistema

September 22, 2021, 15:27 (UTC+3)|

According to Reuters, Sberbank intends to sell 25% of the developer in the field of face recognition VisionLabs back to AFK Sistema. Thus, the bank will focus on the development of similar services for another participant in its ecosystem, Speech Technology Center (STC)

The likely reason for the sale is to avoid a conflict of interest between two competing companies. Sberbank and AFK Sistema do not comment on the possible agreement.

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VisionLabs, STC

Sberbank acquired a little more than 25% of VisionLabs shares four years ago from Sistema VC (AFK Sistema's venture fund).

Original (in Russian)


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