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Asseco has a foot in the door in Russia at long last

On July the 1st Asseco Poland and R-Style Softlab signed an agreement upon wich Asseco has a majority stake in Russian company. After several years of assessing the CIS Asseco has succeeded in getting a foothold on the Russian market.

On July the 1st Asseco Poland and R-Style Softlab signed an agreement upon wich Asseco has a majority stake in Russian company. After several years of assessing the CIS Asseco has succeeded in getting a foothold on the Russian market.

 

Asseco Poland has acquired 70% stake in R-Style Softlab valued at USD 28m. Shares were purchased from Eransor Finance Limited a company registered in Nicosia, Cyprus. Furthermore Asseco Poland has purchased a call option for the remaining 30% of shares. The call option may be exercised between 1 May and 31 December 2016.

 

“I’m overjoyed by the fact that R-Style Softlab has come under the umbrella known as Asseco. I’m absolutely certain that with our joint effort we will consolidate our position in every geographical location that Asseco is present and not only in Russia and CEE. For this purpose it is important for us to keep the key employees, the principles of the client and product policies and keep on following the goals of the strategic development of R-Style Softlab. We know that the Russian market is robust and perspective and we are pleased to be a part of it” – says Adam Góral – CEO at Asseco Poland.

 

“I’m sure that the integration of our companies will allow to more effectively realize the current strategy of R-Style Softlab development aimed at strengthening our leading position in Russia and the CIS. It will be our clients who will be the first to feel the advantages of this integration. R-Style Softlab own unique expertise, consulting and technological potential together with international expertise and implementation practice will give a jump-start to further development of the Russian IT market”  - says Andrey Galkovsky - CEO of R-Style Softlab.

 

R-Style Softlab is a Russian developer of specialized software for the banking sector and financial market. Company specializes in three main directions: front and internet banking, data warehouse and BI systems as well as core banking systems. Besides that the company provides consulting services, IT audit and outsourcing.

 

R-Style is the market leader by the volume of its client portfolio: every third bank in Russia uses its software. R-Style Softlab supports over 400 active clients in Russia and CIS (Kazakhstan, Kyrgyzstan, Belarus, Tajikistan, Uzbekistan, Moldova, Georgia, Ukraine), actively expanding the geography of its presence abroad.

 


Besides its headquarters in Moscow R-Style Softlab has its branches in Bryansk and Vologda, as well as in Almaty (Kazakhstan) and Kiev (Ukraine).  It employs more than 800 professionals. The company’s quality management system is certified for its compliance with the requirements of the ISO 9001:2008 standard.
Over its 19-year history R-Style Softlab has demonstrated a solid growth of both its revenues and net profit. In 2012, R-Style Softlab generated approximately USD 35 million in sales revenues  from proprietary software and services.


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