Russian Navigation Technologies (RNT), a leading manufacturer and integrator of fleet management solutions and other telematics systems, is continuing its international expansion. The company is holding buyout talks with several Eastern European firms to enter the regional market, RNT General Manager Ivan Nechaev told CNews.ru, a resource covering the IT and telecom markets.
The acquisition of an existing telematics systems company in Eastern Europe would be the best way for RNT to enter Eastern Europe’s otherwise saturated market, Nechaev explained.
RNT is also interested in the US market, where it is seeking a partner to cosponsor its services. The penetration of remote fleet management services in the United States is only a modest 18-22% in the field of commercial transport, according to the company.
The company’s Auto Tracker technology supports both the GLONASS and GPS navigation systems. RNT received support from the Russian government via its affiliated financial structures VTB, a leading bank, and the Russian Venture Company (RVC), the fund of funds dedicated to fostering innovation in Russia.
RNT’s net profit totaled 78.1 million rubles, or $2.6 million, on revenue of 446 million rubles, or $14.6 million, in 2010. Shares of the company began trading on MICEX, the Moscow stock exchange, in July of 2010.
Earlier this year, RNT announced that the story of its formation and growth has been used as a case study in business courses at Stanford and several other US universities.
RNT currently has representative offices in Egypt and Ukraine. The firm also operates in other former Soviet republics as well as in several Asian, Latin American, and North African countries. However, revenues from RNT’s international operations accounted for only 5% of all its revenues in 2010.
Source: CNews.ru
