The largest digital services provider in Russia

Rostelecom acquires Russian Big Data developer IQMen – Business Intelligence

Print version
Return to the list

Moscow, Russia – November 24, 2015 – Rostelecom PJSC (“the Company”) (MOEX: RTKM, RTKMP; OTCQX: ROSYY), Russia’s national telecommunications operator, today announces that its Board of Directors has approved a RUB 525 million deal to acquire a 75% stake in CJSC IQMen – Business Intelligence, a Russian Big Data platform developer.

This acquisition is in line with Rostelecom’s strategy to enter new digital segments, including the fast-growing Big Data market. Russia’s Big Data market is expected to grow by an average of 35%[1] per annum between 2014 and 2018.

IQMen – Business Intelligence uses its own unique search and analytics platform, IQPlatform®, to develop all its projects. The platform incorporates some of the following key features:

  • Dynamic configuration and domain modelling with the ability to adjust for different subjects of interest and the visualisation of this data;
  • The use of both structured and unstructured sources of data, including social networks and online media;
  • Separating subjects and creating and analysing links between them.

IQMen – Business Intelligence’s key clients include government services, state companies and banks.

Maria Florentieva, Senior Vice President of Rostelecom, commented: “Acquiring a majority stake in IQMen – Business Intelligence allows us to access the promising Big Data market, which is set for double-digit growth over the next five years. We will also be able to realise a number of synergies with our core business through this acquisition, including the use of Big Data technology to improve operational efficiency, monitor the quality of services and for customer segmentation purposes.

“Key members of IQMen – Business Intelligence’s management, including its founder, have retained the remaining 25% stake in the business and we look forward to building a lasting partnership with them. We believe IQ Men – Business Intelligence has great potential and we are committed to developing the business further with our new partners.”

[1] Source: IDC, IPOboard


[1] Source: IDC, IPOboard