Russia’s ER-Telecom and Rostec have acquired a majority (75%-1 share) stake in Akado Holding for an undisclosed fee.
According to a statement by ER-Telecom, the 25% +1 share in Akado Holding will continue to belong to AVK Investments.
It adds that ER-Telecom, Rostec and AVK Investments will create a partnership that will develop digital technologies, including 5G wireless communications, the internet of things, smart city systems, video analytics and data centres, based on the telecom operator Akado. The parties intend to promote on the market new telecommunication solutions for private users, corporate clients and the public sector.
Commenting on the transaction, Sergey Chemezov, head of Rostec, said: “This is an alliance of strong players, in which the competencies of our companies together give a synergistic effect. A partnership in this format opens up new opportunities for the creation and implementation of domestic technological solutions in various fields: from internet services for the mass consumer to building a large-scale ICT infrastructure for private, municipal and government organisations. For Rostec, as a developer and manufacturer of IT and telecom equipment, this is undoubtedly a promising project”.
ER Telecom’s participation in the project will allow expanding the product portfolio of Akado Telecom through the integration of services in all business segments.
Andrey Kuzyaev, president of ER-Telecom, added: “Investments in Akado are part of our development strategy in the Moscow and Moscow region markets. The creation of a strategic partnership with Rostec and AVK Investments will bring a new quality of service, new digital products, contribute to the transformation of Akado Telecom into a digital technology company and ensure its outrunning growth in the capital market”.
Maxim Mayorets, owner of AVK Investments, said: “The appearance of such strong majority shareholders in the Akado shareholder structure will give a new impetus to the development of the company and will make it possible to fully reveal its growth potential”.
Akado Telecom is the largest independent telecommunications operator in Moscow. It provides a wide range of services, including internet, digital TV and online cinema, to corporate, private and government clients via its own multiservice fibre-optic network.
