The board of directors of Austrian IT-provider S&T AG has approved an investment plan which will see it pump tens of millions of euros into Russian companies in 2015. The plan was announced by S&T Vice-President Alexander Malshakov, responsible for the company’s business in Eastern Europe.
S&T AG plans to buy several Russian IT companies, in spite of the risks associated with the country’s complicated political and economic situation.
According to the report, the company is currently negotiating deals to acquire three Russian IT firms, with a combined workforce of 400-500. S&T AG believes that the return on its investments in Russian assets over 2015/16 will be very high.
The company is interested in intelligent data processing, and will invest in companies with established teams in the big data sector, as well as startups working with the internet of things. It plans to invest in companies with an annual turnover of $5-50 million. S&T AG will also open a resource centre for software development in Russia.
“American companies are not extending assistance to Russian IT companies for a number of reasons. In Europe on the other hand, and particularly in German speaking regions, entrepreneurs are well disposed to Russia, and believe that the companies from Russian and the CIS which they invest in now will soon grow in value,” said Malshakov.
“The current market stagnation cannot go on forever,” he concluded.
Source: Firrma.ru
