MOSCOW: Rostelecom PJSC, the largest integrated digital service provider in Russia, announced that it has signed the agreements to secure a 51% interest in Forkam Limited, a provider of smart software solutions in the utilities sector.

Forkam’s key products include proprietary software solutions in accounting, planning and maintenance of city infrastructure facilities, supplier management and utility inventory. Rostelecom has been utilising Forkam’s products as part of the company’s complex project for developing a “United system of telemetric control of transportation and mobile service teams” within Rostelecom’s contract with the Housing and Utility Department of Moscow.

Anna Shumeiko, Senior Vice-President, the Chief of Staff of the President of Rostelecom, commented: “Rostelecom has solidified its position of a leading provider of turnkey smart solutions in utility management. Smart City projects, which have been rolled out across the entire country, are one of the strategic areas of the company.

“For a number of years, we have been supporting the Government of Moscow in the implementation of telemetry systems to control the transportation. The Forkam team and its software solutions have been a significant contributor to rendered services reconciliation, as well as data monitoring and transmission. The acquisition will support Forkam’s expansion across the country within Rostelecom’s similar projects”.

Rostelecom is the largest integrated digital services and products provider, operating in all segments of the telecommunications market in Russia. The Company serves millions of households, state and private enterprises across the country.

Rostelecom is Russia’s undisputed market leader, providing high-speed Internet access and pay-TV. The total number of broadband users stands at over 13.2 mln users, it has more than 10.5 mln pay-TV  customers, over 5.7 mln of which are subscribed to Rostelecom’s IPTV services. Tele2 Russia, a Rostelecom subsidiary , is a major player in the mobile market with over 44 mln subscribers and the industry-leading NPS, a customer satisfaction benchmark.

In the first quarter of 2020, the Group generated RUB 121.6 bln of revenues, RUB 47.1 bln of OIBDA (38.7% of revenue) and RUB 7.7 bln of net income.

The Group is the leading provider of telecommunications services to government bodies and corporates of all levels.

Rostelecom is a key strategic innovator that provides solutions in the following fields: E-Government, cybersecurity, data-centers and cloud computing, biometry, healthcare, education and housing & utility services.

The Group’s stable financial position is confirmed by its credit ratings. Rostelecom has been assigned ‘BBB-‘ and ‘BB+’ international credit ratings by Fitch Ratings and Standard & Poor’s respectively, and AA(RU) by ACRA.