First Russian low power Glonass+GPS chipsets to appear in early 2012

October 12, 2011

Geostar Navigation, a Moscow-based producer of navigation receivers for telematic services, will start mass production of a new GLONASS+GPS chipset as early as next spring. The announcement, reported by news agency RIA Novosti, was made at a press conference on Monday by NIS GLONASS General Manager Alexander Gurko. The low power chipset, named GeoC-3, will …

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Rostelecom to acquire broadband Internet provider in Moscow

October 12, 2011

Rostelecom, Russia’s national telecommunications operator, is to acquire Qwerty, a Moscow broadband Internet provider, Russian business daily Kommersant revealed earlier this week referring to unnamed sources. Qwerty is indirectly owned by Svyazinvest, Rostelecom’s main shareholder. Its value has been estimated at 1.2 to 1.4 billion rubles, or around $40 million, by Raiffeisenbank analyst Sergey Libin, Kommersant …

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Tatarstan to invest $315 million in Skolkovo-style IT village

October 11, 2011

The Republic of Tartarstan has laid plans for the construction of an IT village providing housing and modern infrastructure, including golf and ski facilities, for up to 20,000 IT professionals near the capital of Kazan. The planned community is intended to house a total population of 50,000. The project – nicknamed “Tatarstan’s Skolkovo” by the Russian press, in reference to the innovation …

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NIS GLONASS to invest $100 million in acquisitions in Russia and abroad

October 11, 2011

NIS GLONASS General Manager Alexander Gurko announced at a press conference yesterday that his company could invest as much as $100 million dollars in acquisitions of Russian and foreign companies during this year and the next. These acquisitions will help develop new satellite-based navigation services for both the domestic and Indian consumer markets.

Yuri Milner joins US Internet stars to launch new videochat service

October 10, 2011

Yuri Milner, co-founder of the top Russian Internet fund DST, is among the investors in Airtime, a new video chat service to be created by former Napster founders Sean Parker and Shawn Fanning. The news, reported by The Financial Times last Friday, was based on exchanges with Airtime’s founders. The Airtime concept is derived from …

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Leading Russian digital marketing agency to be acquired by Ogilvy

October 10, 2011

WPP, a prominent global advertising and marketing group, has agreed to acquire – through its subsidiary Ogilvy & Mather – a majority stake in Promo Interactive, a leading Moscow-based advertising agency with a strong Internet, mobile and multimedia focus, the Russian press reported last week.

VTB Capital invests in UK data software company aiHit

October 7, 2011

VTB Capital yesterday announced it led a $5.5 million round of financing for aiHit, a London based provider of company data to the business information, market research and lead generation industries. Amadeus Capital Partners, the UK’s leading venture capital group, and several other existing investors, also took part in the deal.

Crocus to integrate IBM tech to semiconductor production in Russia

October 7, 2011

Crocus Technology, a leading developer of magnetic memory technology based in Grenoble, France, announced yesterday a joint technology development agreement and a patent license agreement with IBM to integrate magnetic technology into semiconductor products.

Vice PM sets limits on government spending for innovation

October 7, 2011

In 2012, the Russian federal government will spend 742 billion rubles on innovation, or approximately $23 billion, up from 477 billion rubles, or $16 billion, in 2010, Russian Vice Prime Minister Sergey Ivanov declared in a forum on Wednesday. “But we cannot, and must not, eternally increase state funding of innovation,” news agency RIA Novosti …

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New law aims to relieve bureaucratic burden on Russian citizens

October 6, 2011

New federal legislation on administrative electronic exchange, which went into effect on October 1st in regard to federal agencies, could radically simplify the exchange between private citizens and Russian administrative bodies. Under the new law, federal officials will no longer be able to request documents or information from private citizens already available in the databases …

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Offline e-commerce terminals to be deployed in Russian regions

October 5, 2011

The Agency for Advanced Information Technologies (APIT), a Russian group of IT consulting and hardware retail companies, has announced its intention to deploy touch screen terminals throughout the country allowing local consumers without an Internet connection to order goods and services from selected Russian e-commerce sites.

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