Russian state bank Vnesheconombank (VEB) is set to acquire a 25% stake in T-Platforms, a high performance computing company, following approval from the Russian Federal Antimonopoly Service on Sept. 19. The acquisition will give VEB a blocking stake in the company.
With bases in Moscow and Hanover, T-Platform has several of its end user supercomputing installations listed among the world’s Top 500 most powerful supercomputers.
In particular, T-Paltform has taken part in the development of the GRU-powered supercomputer deployed in June by Moscow State University, ranked 13th on the international rating.
Exact terms of the deal were not disclosed but experts quoted by Russian business daily Vedomosti estimated the deal to be valued at 800 million rubles, or approximately $25 million.
According to VEB, the invested funds will be used, in particular, to support the international development of T-Platforms. Currently the company has a mere 0.57% share of the global market for high performance computing, Vedomosti reported.
In 2010, the company’s total revenue reached 1.3 billion rubles, or approximately $40 million.
