Software

How a Russian ice cream company generates hot profits with artificial intelligence

October 2, 2019

This summer, a major ice cream manufacturer in Russia, Chistaya Liniya (Pure Line), integrated a new solution for shelf image recognition. This AI-powered technology, developed by the Moscow-based startup Inspector Cloud, allows Chistaya Liniya to audit coolers, analyze product and staff data, and ultimately drive sales. For image recognition, ice creams are more of a …

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Russian software company Abbyy acquires US process intelligence solution provider TimelinePI

August 8, 2019

Abbyy, a Moscow-headquartered global provider of content intelligence solutions and services, has acquired US process intelligence solution provider TimelinePI. This acquisition is a “strategic investment” for Abbyy, which expects to “have the most comprehensive process intelligence platform [going] beyond traditional text analytics and process mining [and achieving] true digital intelligence and Digital IQ,” commented Ulf …

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Sberbank completes acquisition of Speech Technology Center to create “global leader” in biometrics

May 9, 2020

Sberbank, the state-controlled financial giant, has completed the acquisition of a 51% stake in Speech Technology Center (STC). Digital Horizon, a VC and business incubation firm with offices in Moscow and Tel Aviv, is also acquiring a minority stake in STC.  Gazprombank, which has sold a part of its shares, remain a strategic shareholder in …

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TCS Group launches B2B voice recognition services

July 26, 2019

Leading Russian consumer lender TCS Group that operates Russia’s only pure online bank Tinkoff Bank has launched B2B speech recognition services, Kommersant daily reported on July 22 citing representatives of the company. TCS will allow third parties to develop their own voice recognition applications such as voice assistants and robots for call centres using the Tinkoff VoiceKit. Tinkoff Bank’s …

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Almaz Capital and Runa Capital exit from US cloud ERP Acumatica

June 20, 2019

Almaz Capital and Runa Capital, two international VCs with roots in Eastern Europe, exited from Acumatica. This US-based provider of cloud-based ERP software systems has been fully acquired by a leading PE firm EQT. The terms of the deal have not been disclosed. Almaz was the first investor in the company as early as 2009; Runa joined …

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Mail.ru Group’s virtual disk client goes global

June 14, 2019

Mail.ru Group, the LSE-listed Russian Internet giant, is launching its Disk-O virtual disk client on the international market. A source in the group told Kommersant, a major business daily, that the company expects to attract one million users in the first year of international operations. Targeted countries include China, France, Germany, India, Spain, Turkey, the UK …

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Huawei acquires Russian face recognition technology

June 10, 2019

Chinese electronics manufacturer Huawei has acquired the face recognition technology of Russian startup Vocord, with patents and equipment and hiring most of the related team, as reported by business daily Vedomosti. According to the official company register, the deal took place on May 17 when Huawei subsidiaries fully acquired Moscow-based Eagle Softlab. Earlier this year, Eagle Softlab, …

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Kaspersky Lab acquires stake in Russian cloud tech company NCT

May 10, 2019

Moscow-based Kaspersky Lab, one of the world’s top cyber security vendors, has announced the acquisition of a 29.5% stake in New Cloud Technologies (NCT), the Interfax news agency reported. Launched in 2013 — now with offices in Moscow, St. Petersburg and Innopolis (Tatarstan) — this company develops complex cloud solutions  for online mass storage and document processing. Its …

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Sberbank, Gazprombank and Digital Horizon aim to create “global leader” in biometrics

August 6, 2019

Sberbank, the state-controlled financial giant, intends to acquire a 51% stake in Speech Technology Center (STC) from Gazprombank, a financial arm of the Russian gas company.  Digital Horizon, a VC and business incubation firm with offices in Moscow and Tel Aviv, has also agreed to acquire a minority stake in STC.  After deal completion in …

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Sberbank launches corporate travel booking service with all-electronic document flow 

July 13, 2019

Sberbank, the giant state-controlled financial institution, has made a new step to extend activities to ever-new fields. Presented just days ago, ‘Business Travel’ helps the bank’s corporate clients organize business trips, buy rail and air tickets, or book hotel rooms. The business trip documents required under Russian legislation – such as the ‘letter of assignment’ …

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Russian-founded web server leader acquired by US company for $670 million

December 17, 2019

Nginx (pronounced “engine-x”), a US-based open source web server publisher with Russian origins, has been acquired by F5, a global leader in multi-cloud application services. The transaction amounted to “approximately $670 million,” the companies announced, for the full acquisition of Nginx. By this acquisition F5 aims to “bridge the divide between NetOps and DevOps with consistent …

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Russian-founded Veeam Software secures $500 million from US and Canadian investors

January 16, 2019

Veeam Software, a global leader in cloud data management software, today announced it raised $500 million from Insight Venture Partners and Canada Pension Plan Investment Board (CPPIB). The fundings will be used “to accelerate the next phase of Veeam’s growth as the number one provider of data management solutions for the public and private cloud,” according to Veeam’s …

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