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The deal will amount to RUB 1.275 billion, the operator has already signed an agreement for the acquisition of 1% and call options for 50% of the shares, which it will exercise in the first half of 2021.
Big3 will become part of the Rostelecom group as a subsidiary, retaining the team, said the operator’s representative. The main product of Big3 is the Waste Management platform. This decision should complement Rostelecom’s waste processing technologies. Waste management operators from 60 regions of Russia are now connected to the Big3’s software and hardware complexes.
In his comments to the media, Artem Sedov, CEO of Big3, noted that the deal promises to be a mutually beneficial partnership for both companies: it will help Rostelecom to occupy a new niche, and Big3 will expand its geography thanks to the operator’s ecosystem. According to Igor Zimin, vice president for applied projects of Rostelecom, for Rostelecom, the deal solves the strategic task of creating another promising business cluster within the company, comparable in potential with such areas as information security and cloud services.
We are pleased to note that the acquaintance of these two companies took place at the GoTech Arena Forum, where Big3 (participating as a Digital Waste Management Platform) was selected by Rostelecom as a winner of their nomination.
For more details, please refer to an article by Vedomosti.