Rostelecom acquires Fastech, a digital solutions provider for utility companies
Moscow, Russia – August 6, 2020 – Rostelecom PJSC (MOEX: RTKM, RTKMP; OTCQX: ROSYY), the largest integrated digital service provider in Russia, today announces that it has signed the legally binding agreement to acquire 51% of a Fastech Ltd, a digitization provider for utility companies. The agreement has been signed through Rostelecom’s subsidiary company Netris.
Fastech provides proprietary software solutions in the areas of information and analytical utility infrastructure, automated systems for capital repairs, state housing inspection, as well as management systems for power supply data collection. Rostelecom has been benefitting from Fastech’s solutions within its complex utility projects in Moscow Region.
“Rostelecom continues to integrate assets with smart utility solutions in their portfolios. Fastech is a significant addition to our product range and a strong contribution to strengthening our position in the utility digitisation market.”
Further information is available at https://www.company.rt.ru/en/ir/news_calendar/.