Investment Firm Sk Capital to Pour $5 Billion into Softline
In a significant move for the Russian tech sector, Sk Capital, part of the VEB.RF Group, has agreed to purchase more than 10% of the ordinary shares of Softline Group for 5 billion rubles. With this investment, Sk Capital becomes the largest minority shareholder of Softline Group.
Under the terms of the investment agreement, Sk Capital will acquire a little over 10% of Softline's common shares from the company's quasi-treasury share block. To maintain market stability, Sk Capital has committed to refraining from selling any Softline shares for two years after completing the transaction. Beyond this period, any sale of shares on the Moscow Stock Exchange in a single trading day will be limited to no more than 10% of the total trading volume for the previous day.
Elena Voloтовская, Softline's vice president for investments, stated that the investment will accelerate the group's development. Sk Capital's managing director, Vladimir Sukhorukov, views investments in Softline as one of the most optimal and promising in the Russian tech sector.
The funds raised will enable Softline to accelerate growth in key and promising technology sectors, both organically and through acquisitions. Since 2022, Softline has completed over 16 M&A deals, including acquisitions of small tech companies based in Skolkovo. This investment aligns with VEB Group's strategy to promote Russia's technological leadership by 2030.
The aim of Softline's merger and acquisition strategy is to strengthen its position as a systemic player in the Russian IT market and expand onto international markets. The VEB.RF group, a key investor, considers this investment priority. The deal is expected to support Softline's position as a significant player in the Russian tech holding sector.
Softline's consistent implementation of a merger and acquisition strategy aims to help the company achieve technological leadership by 2030. Sk Capital’s investment aims to bolster Softline’s development as part of a broader goal for Russia to achieve technological leadership by 2030, while ensuring a stable share market environment through agreed selling restrictions.
In conclusion, Sk Capital's investment in Softline marks a significant step forward for the Russian tech sector. With a commitment to market stability and a focus on growth and development, this investment is poised to have a lasting impact on the industry.
Read also:
- MoneyGram's Investment in 'Drive to Survive' Yielded Results?
- "New York City rideshare service to depart market; will concentrate on electric vehicle charging infrastructure development"
- Chevy Silverado EV Covered Over 1,000 Miles Without Needs for Charging, Thanks to GM Engineers
- Expensive Fix for Owner's 392-Mile Lucid Air: Lucid Motors Asking for $7,000
