The JV of Megafon, USM Group, Rostec and Gazprombank will be engaged in digital innovations

June 13

​​​​​​​The joint venture created by the large Russian companies and state corporations will develop the digital technologies industry.

According to TASS, several large Russian corporations (Megafon and USM Group) together with the state corporations Gazprombank and Rostec founded the joint venture «MF Technologies» (MFT) that received 59% of the shares in Group. The total value of the MFT shares was estimated at $450 million.

The purpose of this company is the development of the digital services industry and the implementation of the projects in the field of digital economy with the use of blockchain technology and the «Internet of Things». At the same time one of the priority areas is the development of the solutions in the field of digital financial platforms using the experience and financial resources of Gazprombank.

The CEO of Megafon Sergei Soldatenkov stated that as a result of the creation of this joint venture his company would «have an access to capital and create a platform for the implementation of innovative financial and technical solutions» that will help the company achieve its ambitious goal to become the digital leader.

According to TASS, Rostec supposes that the creation of the joint venture is an opportunity to apply its experience as a state corporation in the field of digital technologies.

The creation of this joint venture will not have an impact on the existing in Group management and decision-making system, nor on its management team.

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