Market participants have previously reported on Rosatom's
Posted: Mon Jan 27, 2025 6:23 am
According to an RBC source close to the state corporation, the acquisition of the Security Code is "of a strategic nature" for them, and the negotiations are being conducted "as part of the implementation of Rosatom's unified digital strategy." It was adopted in 2018 and provides for the creation of a quantum computer by 2024, the development of new production technologies and participation in the implementation of the Digital Economy national program in colombia cell phone number list other areas; the development and launch of digital products for industrial enterprises; ensuring the digitalization of NPP construction processes; import substitution and the creation of a unified digital platform for the nuclear industry. In addition, according to an RBC source, "under the new conditions of 2022, the deal will contribute to the implementation of the tasks set before the corporation to protect critical information infrastructure," which includes communication networks and information systems of government agencies, energy, financial, telecommunications and a number of other companies.
interest in purchasing various IT companies. Thus, in the data center segment, as RBC's sources reported at the end of 2020, the state corporation planned to acquire the St. Petersburg data center operator Xelent, as well as Moscow's StoreData and IXcellerate, but the deal only took place with the former. At the end of 2021, Kommersant reported that the state corporation was discussing the purchase of a controlling stake in MCST, a developer of domestic Elbrus processors, as well as its intention to acquire the IT integrator AT Consulting for 10-12 billion rubles. In March of this year, Rusatom - Digital Solutions and AT Consulting announced that they had agreed to create a "strategic partnership to solve problems in the field of digitalization", and in April, the state corporation's structure, according to TAdviser, acquired a controlling stake in this company. In October, Rosatom established the Scientific and Production Association Critical Information Systems, which will produce equipment and electronic components for owners of critical information infrastructure.
At the beginning of November, at the CNews forum, Rosatom's Director of Information Technology Evgeny Abakumov stated that the state corporation plans to hire more than 5,000 IT specialists by 2025 due to the expansion of the product line and the introduction of a large number of new IT solutions.
The price of the issue
Advance Capital Vice President Artur Shubaev notes that based on the EBITDA estimate for Code Bezopasnosti at 1.1–1.2 billion rubles, the value of 100% of the asset could be 4.5–5.75 billion rubles. According to him, the multiples for buying out IT companies are currently in the range of 4x to 5x EBITDA. In particular, one of the co-founders of Kaspersky Lab, Alexey De-Monderik, recently sold his stake in the parent structure of Kaspersky Labs Limited for $50 million, which, according to Shubaev, corresponded to a multiple of 3.2x EBITDA. But if Rosatom structures get a non-minority stake, there may be a premium for control, Shubaev noted.
At the end of 2019, when Philipp Gens bought a controlling stake in Security Code, experts estimated the value of the entire company at one or two revenues, i.e. 2–4 billion rubles.
interest in purchasing various IT companies. Thus, in the data center segment, as RBC's sources reported at the end of 2020, the state corporation planned to acquire the St. Petersburg data center operator Xelent, as well as Moscow's StoreData and IXcellerate, but the deal only took place with the former. At the end of 2021, Kommersant reported that the state corporation was discussing the purchase of a controlling stake in MCST, a developer of domestic Elbrus processors, as well as its intention to acquire the IT integrator AT Consulting for 10-12 billion rubles. In March of this year, Rusatom - Digital Solutions and AT Consulting announced that they had agreed to create a "strategic partnership to solve problems in the field of digitalization", and in April, the state corporation's structure, according to TAdviser, acquired a controlling stake in this company. In October, Rosatom established the Scientific and Production Association Critical Information Systems, which will produce equipment and electronic components for owners of critical information infrastructure.
At the beginning of November, at the CNews forum, Rosatom's Director of Information Technology Evgeny Abakumov stated that the state corporation plans to hire more than 5,000 IT specialists by 2025 due to the expansion of the product line and the introduction of a large number of new IT solutions.
The price of the issue
Advance Capital Vice President Artur Shubaev notes that based on the EBITDA estimate for Code Bezopasnosti at 1.1–1.2 billion rubles, the value of 100% of the asset could be 4.5–5.75 billion rubles. According to him, the multiples for buying out IT companies are currently in the range of 4x to 5x EBITDA. In particular, one of the co-founders of Kaspersky Lab, Alexey De-Monderik, recently sold his stake in the parent structure of Kaspersky Labs Limited for $50 million, which, according to Shubaev, corresponded to a multiple of 3.2x EBITDA. But if Rosatom structures get a non-minority stake, there may be a premium for control, Shubaev noted.
At the end of 2019, when Philipp Gens bought a controlling stake in Security Code, experts estimated the value of the entire company at one or two revenues, i.e. 2–4 billion rubles.