Renova takes over Italo-British insurance telematics service provider

Renova, a Russian group owned by billionaire Viktor Vekselberg, has acquired Octo Telematics, a leading Italo-British provider of ?smart insurance? services

Renova, a Russian group owned by billionaire Viktor Vekselberg ? who also heads the Skolkovo Foundation ? has announced the acquisition of Octo Telematics, a leading Italo-British provider of insurance telematics services (also known as ?smart insurance?), East-West Digital News, the first all English-language online resource dedicated to Russian digital industries, reported earlier this week. Renova Group has acquired 100% of the company from existing shareholders, which include Montezemolo & Partners, an Italian investment group founded by Ferrari president Luca Di Montezemolo, Amadeus Capital Partners and Keensight Capital. The deal will be closed after approval from antitrust regulators, Renova indicated...