Leading investor grabs some IT action

permalink e-mail story to a friend print version

Published 29 May, 2008, 15:08

Russia’s top investment company, Alfa Group, is buying a 20 per cent stake in Systematica, an IT company registered in Cyprus.

Yahoo StumbleUpon Google Live Technorati

del.icio.us Digg Reddit Mixx Propeller

The deal is expected to be sealed by the end of the quarter and will expand Alfa's portfolio of offshore assets.

Last year the company made $US 390 million. Systematica says money from shares will help boost its position in the Russian IT and consulting market.

Although registered in Cyprus, Systematica Holdings is one of Russia’s leading IT companies. It employs more than 1,000 people nationwide.

Founded in 1989, Alfa is a private financial and manufacturing consortium.

0/5 (0 votes)

rate this story

discuss it

16:29 UN chief says Middle East quartet backs Palestinian independence

15:46 70 protesters detained in Moscow on "Day of Wrath"

15:11 Business center catches fire in northern Moscow

14:33 Serbia, EU leaders refuse to attend informal Balkan summit in Slovenia

13:48 Ukrainian PM criticizes Kiev mayor for poor work

13:33 Giant pandas on tour: 14 hours for food and 10 for games and sleep

10:58 Russia needs minimum 50 nuclear subs for fleet - Navy Vice Admiral

10:32 Elderly man on Philippine flight attempts to jump from aircraft

RT asks

After the central Bank’s 11th consecutive refinancing rate cut which way is Russia’s economy headed?

vote view answers without voting

High inflation to boost oil wages Inflation in Russia may reach 14% this year and the risk of the economy overheating is growing, according to the International Monetary Fund (IMF). The head of Schlumberger has told RT that the oil and gas industry is...

Russia regulates foreign investment in 42 ‘strategic’ sectors Vladimir Putin has signed a law giving him final say on foreign bids to buy Russian companies in 42 ‘strategic’ sectors including oil, gas, media and telecoms. He insists the bill is designed to help – not...

Greece works towards easier visas for Russians The third Greco-Russian business forum has been held in Moscow. The event is aimed at improving commercial ties between the two countries.

Soaring inflation threatens economy The head of the International Monetary Fund in Russia has said inflation could hit 14% this year. Paul Tomsen made his prediction after economic growth in May exceeded the government’s monthly forecast.

Suits head to St Pete for business forum The international business community is keenly anticipating the next St. Petersburg Economic Forum, which kicks off this Friday in Russia’s northern capital. Last year more than 9,000 people took part in the three-day...

Three trapped coal miners found dead in Siberia Three of five miners still trapped in a coal mine in the Siberian Kemerovo region have been found dead. Rescuers are continuing to search for the two men still missing.

Russia dubious over parity in gas prices Russia will delay bringing domestic gas prices level with export prices for at least four years as the debate about the need to raise prices is still raging on in Russia.

Russian airlines switch to e-tickets Most Russian airlines will switch to e-ticketing on June 1, the international deadline for carriers to make the changeover.

Brits and Russians divided over oil chief The row between oil major BP and its Russian joint venture TNK-BP over the CEO is gaining pace. The conflict has deepened after BP rejected the Russians' demand to replace TNK-BP's long-serving chief, Robert Dudley.

Mobile giant's head promoted One of Russia’s biggest conglomerates Sistema has appointed Mobile TeleSystems head Leonid Melamed as its new CEO. The announcement came on the day Eastern Europe’s biggest mobile operator launched Third Generation (3G)...

Gazprom and Lukoil to explore Caspian oil field Gazprom and Russia's largest independent oil company, Lukoil, have discovered a major oil field following exploration at the Tsentralnaya site in the Caspian Sea.

Merger to create world’s biggest metals company Russian tycoons Alisher Usmanov and Vladimir Potanin have announced they are planning a tie-up that could see Usmanov gain up to 10 per cent of metals giant Norilsk Nickel.

Mobile giant expands broadband operation Russia’s second-largest mobile operator, Vympelcom, is buying a 49 per cent stake in Internet provider Corbina Telecom. The owner of the Beeline brand is purchasing the stock from Alexandr Mamut.

Russia finds new role as donor country This week, the Russian government unveiled plans to develop its first comprehensive international aid programme to regulate the funds it lends to poorer countries. The move is supported by the World Bank and marks a...

Transit states go green to sink Nord Stream pipeline The planned Nord Stream project, which will bring Russian gas to Europe through a pipleline under the Baltic Sea, is once again in the firing line. The EU Petitions Committee has called for a study to assess the...

Russian power monopoly bids farewell Russia’s electric power monopoly Unified Energy System, RAO UES, will cease to exist in just over a month. Its head Anatoly Chubais has met the company’s shareholders to assure them the sector has a bright future.

Government is failing to contain inflation Russian government has said it will struggle to meet its inflation target of 10.5 % for this year.

Moscow shops are streets ahead of London Moscow’s major Tverskaya street was rated the third most expensive commercial real estate in the world with average annual rents pegged at $US 1,515 per square foot.

Shareholders split over sale of UK-Russian oil giant The major shareholders of British Petroleum’s Russian joint-venture, TNK-BP, are reported to be in conflict over the future of the company. Oil industry analysts are predicting that the firm might finally be sold to a...

Putin calls for car-makers to step up a gear Prime Minister Vladimir Putin has called for far more cars sold in Russia to be produced domestically. During a visit to the Yelabuga special economic zone in Tatarstan, Putin urged car manufacturers to make more...

Russia has gleaming bio-fuel prospects: expert Russia could use its huge potential to become the key player on the bio-fuels market. At the moment, however, it barely meets the prerequisites for the brilliant future.

Booze crisis threatens Russia’s drinkers Manufacturers of alcoholic drinks could face a nationwide shutdown on June 1st because the state's new alcohol duty tracking system is not yet ready. However, the Federal Tax Service authorities are confident they can...

Russia demands redress from Swiss firm The Russian Government is suing the Swiss company Noga after it repeatedly requested the seizure of Russian property in different countries. A French court will decide whether the company’s actions were legal.

WTO to restart talks on Russian entry The World Trade Organisation agreed on Monday to resume talks on Russia's accession. However no deadline was set to complete the negotiations.

Small firms call for tax cuts Russia’s entrepreneurs are calling for a huge reduction in the tax burden on small businesses to help stimulate growth.

Russian oil companies to get tax holidays The Russian government has approved tax cuts of $US 4 billion for oil companies from 2009. The reduction of the mineral extraction tax, a key reform for the country’s oil companies, is believed to be the first step...

Construction boom transforming Sochi Almost a year after it was chosen to host the Olympic games of 2014, Sochi is attracting billions of dollars of investments and looks like a massive construction site: new modern hotels and housing estates are being...

Nato’s newest members hanging on to Russian jets NATO’s newest Eastern European members are still relying on Russian fighter jets to form the backbone of their air forces. Some countries are unwilling to ‘upgrade’ their arsenal when refurbishing their Russian-made MiG...

Russia to boost trade with China Russia and China could increase their bilateral trade to $US 70 billions per year. That's according to Russia’s President Dmitry Medvedev ahead of his trip to China. Currently, energy accounts for the bulk of trade, but...

Ukraine may shatter Russia's WTO hopes Ukraine, which recently joined the World Trade Organisation, has signaled that it wants to possibly block Russia's accession.

Leading investor grabs some IT action

RT asks

Israel must stop its expansion in occupied territory – UN Sec. Gen.

Russian wins in Vancouver justified – International Paralympic Committee head

Russian Cup returns to Moscow as CSKA beat Kazan

“Rally of Wrath” demands action from the government

Washington DC dances against the war, demands troops withdrawal from Iraq

Russia welcomes public debate on police reform

Rouble appreciation in the spotlight on energy revenues

Finance Minister warns on rouble

Small business owners get chance at success

Kamaz looking to start Chinese production line

Russian ‘Silicon Valley’ to be built near Moscow

Russia to boost nuclear energy role

Postal delays hurting Russian market

Expats enjoy St. Patrick’s Day celebrations despite heavy snowfall in Moscow

Historama, March 19

Historama, March 18

Russian wins in Vancouver justified – International Paralympic Committee head

Russian Cup returns to Moscow as CSKA beat Kazan

Armymen to challenge Italy’s champs en route to Madrid

Russian recluse mathematician awarded Millennium Prize

Russian ‘Silicon Valley’ to be built near Moscow

What’s inside of me?