Eching near Munich, June 06th 2014 – Kontron AG today signed the planned contract on the disposal of the Russian company ‘Affair 000’, Moscow, including the direct and indirect holdings in RTSoft ZAO, Moscow and its participations in Russia and the Ukraine. Buyers are the RTSoft ZAO management and an Austrian investor. The transaction is subject to merger control clearance in Russia and Austria. The parties expect the closing of the transaction in July 2014.
This disposal concludes Kontron’s announced divestment of the activities combined in the energy project business. The sale will be effected by the transfer of 100% of Kontron AG’s stake. The purchase price is about EUR 11 million.
Kontron AG will continue its ECT activities in Russia and other CIS countries via RTSoft ZAO as its indirect channel partner. The ECT-related segment in RTSoft ZAO generated revenues of about EUR 4 million in financial year 2013.
“The disposal of RTSoft is another important milestone in focusing on our strategic core business ECT. I am pleased to say that RTSoft will remain an indirect channel partner for our high-quality and innovative ECT solutions in the Russian market“, says Rolf Schwirz, CEO of Kontron AG.
The energy project business of RTSoft ZAO largely consists of general contractor services that are not part of Kontron AG's core business. This project business is not related to the value creation, distribution and settlement processes of Kontron AG and its risk/reward profile differs from Kontron's ECT business.
In future, Kontron AG will again focus exclusively on its activities in the ECT market. With its ECT products and systems solutions, Kontron is strategically well positioned to benefit from growing, sustainable market opportunities.
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