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RTI Buying NVision Group

Services conglomerate Sistema said Tuesday that its high-tech arm RTI would buy systems integrator NVision Group for more than $200 million in cash and shares as part of a drive to grow its IT business.

The deal aims to integrate the assets of NVision, one of Russia's top 10 IT companies, with those of RTI, which include RTI Systems and Sitronics.

Under the deal, RTI would buy 50 percent of NVision's shares for $200 million and then issue additional shares to swap them for the remaining 50 percent stake. Sistema owns 84.6 percent of RTI, and Bank of Moscow, now part of VTB, controls the remaining 15.4 percent stake.

(Reuters)

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