Bank VTB : VTB acquires 40% of Technoserv IT Group

Press release

5June 2018

VTB acquires 40% of Technoserv IT Group

VTB Group closed acquisition of 40% stake in Technoserv Group, Russia's largest system integrator. The acquisition had been duly approved by the Federal Antimonopoly Service of the Russian Federation. VTB will have the opportunity to appoint its representatives on the company's Board of Directors and thus participate in the management.

Technoserv is one of the leaders in the system integration market and possesses vast client portfolio, including major companies from across various industries of the economy.

For VTB acquisition of Technoserv is a strategically important transaction that will significantly enhance bank's technological expertise. As such, this will considerably increase VTB Group's capabilities to create new competitive products and services for its customers, further enhance the quality of innovative IT developments for the digital transformation of VTB and will ultimately positively impact the Group's financial performance.