Central regions | Finance, business

Austrians invest in Russian IT despite sanctions

12 Feb '15
The board of directors of Austrian IT provider S&T AG has approved an investment plan which calls for tens of millions of euros in investment into Russian companies in 2015, Rusbase.com reported, citing S&T Vice-President Alexander Malshakov who’s responsible for the company’s business in Eastern Europe.

S&T AG plans to buy several Russian IT companies, in spite of the risks associated with the country’s complicated political and economic situation. According to the report, the company is currently negotiating deals to acquire three Russian IT firms, with a combined workforce of 400-500. S&T AG believes that the return on its investments in Russian assets over 2015/16 will be very high.

The company is interested in ‘smart’ data processing and will invest in companies with established teams in the big data sector, as well as start-ups working with the Internet of things. It plans to invest in companies with an annual turnover of $5-50m. S&T AG will also open a resource center for software development in Russia.

“American companies are not extending assistance to Russian IT companies for a number of reasons. In Europe, on the other hand, and particularly in German-speaking regions, entrepreneurs are well disposed to Russia and believe that the companies from Russian and the CIS which they invest in now will soon grow in value. The current market stagnation cannot go on forever,” Mr. Malshakov said.
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