Rostelekom : Rostelecom's Corporate Venture Capital Fund “CommIT Capital” invests in Transportation Information Technologies

Print version16.01.2017

January 16, 2017, Moscow - Rostelecom PJSC (MOEX: RTKM, RTKMP; OTCQX: ROSYY), Russia's national telecommunications operator, today announces that its corporate venture capital fund, 'CommIT Capital', has acquired a 25% stake in Transportation Information Technologies (TransInfoTech), an e-Freight management operator engaged in the tracking of international air cargo transportation, and is intending to invest RUB 40 million at the initial stage.

Rostelecom has been appointed exclusively by the government to develop an electronic registration and tracking system for international cargo transportation ('single window'). TransInfoTech is implementing the e-Freight international standard for air transport within a test zone defined by protocol set by the Russian Government's Commission of Transport and Communications. Six major airports and 10 airlines were included in the test zone and 2000 paperless flights were conducted.

Rostelecom and TransInfoTech are looking to further their cooperation to translate electronic registration and tracking standards used in international cargo transport to other modes of transport.

Alexey Basov, Chairman of the Board and the Investment Committee of CommIT Capital, commented:

'Rostelecom is always seeking to cooperate with promising companies that can complement our business. TransInfoTech has all the knowledge, competencies and unique experience to implement and manage an electronic document management system for air cargo in Russia. Together we can provide the market with a unique service which will allow our clients to significantly reduce their costs by making the process of document transfer faster and more efficient.'

Vladimir Novikov, General Director of TransInfoTech added:

'We are pleased to collaborate with Rostelecom to promote an electronic document management system. Not only is Rostelecom a financial investor, they are a technology partner. Their experience in providing e-government services will help us with the development of an electronic document management system for air transport initially, and in the future, other modes of transport.'

CommIT Capital is the Corporate Venture Capital Fund of Rostelecom. CommIT Capital invests in and develops companies that offer unique competencies that complement and offer synergies with Rostelecom's operations. Priority areas for investment are promising innovative companies with export potential to develop competitive products for telecommunications infrastructure and data centres and well as provide enterprise solutions. In addition, the fund considers promising projects that can offer new products and services to end customers of Rostelecom in the B2C, B2B and B2G segments.

TransInfoTech (transinfotech.ru) was established in 2011 as part of a pilot project to implement the international e-Freight standard for the Government Commission of Transport and Communications in the Russian Federation. The company has developed a Customs Gateway, certified by the Federal Customs Service, this translates the Cargo IMP format used by airlines into the XML format used by the Federal Customs Service of Russia. All the leading Russian and international airlines and airports, working in Russia (JSC 'Aeroflot' OJSC 'AirBridgeCargo», Lufthansa Cargo, Cargolux, Korean Air, Asiana Airlines, Emirates, OJSC 'International aero-port Sherementevo 'JSC' Airport Tolmachevo ', JSC' Airport Emelyanovo ', JSC' Domodedovo-Cargo ', CJSC' Pulkovo Cargo terminal ') have signed up to this pilot project.