The companies involved in the deal refused to disclose the amount of the purchase of the controlling stake.

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Andrey Leushev, President of Fazum, noted that cooperation with Rostelecom allows his team to "look confidently to the future, offering clients even higher-quality and innovative solutions." "To take a leading position in the transforming market, the company will focus on developing several areas - expanding the capabilities of the platform for comprehensive import substitution, providing banks with a platform and secure infrastructure for working in the Rostelecom cloud; providing banking products to small and medium-sized businesses, launching new products - for example, the Accounts Receivable Exchange," Andrey Leushev noted.
, Pavel Novikov noted ivory coast whatsapp resource that the company is an excellent example of a fintech startup. "Fazum received the status of a participant at the Startup Village competition in 2016 in three minutes by the unanimous opinion of the jury, the founder concluded the first commercial contracts personally, studying the market and customer requests. The focus on the automation of banking processes and hiring the best specialists ultimately allowed us to increase the company's revenue and capitalization many times over. Exactly one year ago, we presented the best fintech companies of Skolkovo to Rostelecom, and I am sure that following the Fazum resident, we will see new deals and services for Rostelecom clients based on the solutions of our startups," said a representative of Skolkovo Fintech Hub.

Experts approve

Artem Tuzov, Director of the Corporate Finance Department at IVA Partners, recalled that Rostelecom invests funds from profits.

Rostelecom recently disclosed its IFRS financial statements for the first half of 2023, where it pleased shareholders with a free cash flow of RUB 73 billion. Free cash flow can be used to reduce the debt burden, M&A transactions (Mergers & Acquisitions). As we can see, Rostelecom has decided to focus on M&A for now," said Artem Tuzov.

According to him, organic growth for a federal-scale company like Rostelecom is an extremely difficult task, which is why Rostelecom has long been entering related niches through M&A deals. "This is how leadership positions were obtained in both mobile communications and wired Internet services. Rostelecom not only knows how to effectively buy businesses, but also successfully builds an ecosystem of products. In the industry in which Fazum operates, there are more orders than specialists. By 2025, it is necessary to switch to domestic software. Rostelecom, using its own finances and specialists, will be able to significantly strengthen Fazum's presence on the market," believes the representative of IVA Partners Investment Company.

According to Artem Tuzov, the amount of the deal to purchase 51% of Fazum could be 3.5 billion rubles.

"The price of the deal, taking into account the growth rate, could be up to 3.5 billion rubles, since the value of the entire company is about 7 billion rubles. If the growth rate is maintained, in two or three years the company will be able to earn 1.5 billion rubles of net profit per year," noted Artem Tuzov.