EBRD co-invests in Russia?s IT outsourcing leader in Russian government led deal

EBRD co-invests in Russia?s IT outsourcing leader in Russian government led dealThe EBRD, the Russian Direct Investment Fund, and the Capman Russia II Fund have pumped $100m into Maykor, the leader in Russia?s IT outsourcing market.

Last week the European Bank for Reconstruction and Development (EBRD), the Russian Direct Investment Fund (RDIF), and the Capman Russia II Fund announced a $100m investment in Maykor, the leader in Russia?s IT outsourcing market. The RDIF led the effort with 50% of the total investment, while the EBRD and Capman each contributed $25m, reported East-West Digital News, the international resource on Russian digital industries. Market analysts believe that the investor consortium may receive a collective 20-25% shareholding in the Russian company after a planned follow-on offering. With the help of this financial injection, Maykor is now aiming to control a larger share of the Russian market with a particular focus on extending its geographic reach across the country via M&As and portfolio diversification. Set up just three years ago, Maykor has asserted itself as an important player on the Russian IT outsourcing market...