Following the sale of distribution business «SITRONICS» could give up another asset – the business of producing billing systems
The system «is considering selling the company to international investors« SITRONICS Telecommunication solutions »(TDB), told« Vedomosti »source at a major producer of software. TDB is created on the basis of the Czech Strom Telecom, manufactures of charging and billing the subscribers of the telecommunication companies (billing system) and, together with the Greek Intracom Telecom creates telecom business direction «SITRONICS».
Two sources in subsidiaries «Systems» confirmed: the possibility of selling PAGES discussed, although there are no serious negotiations. «SITRONICS» did not and did not negotiate for the sale of units for the production of telecommunications equipment, the representative of the company Sergei Filippov.
In late April, an informal proposal to buy the former Strom Telecom received two foreign manufacturer billing – Amdocs and Comverse, argues the manager who was familiar with the parties to these negotiations. Before a formal proposal and discuss the price is not reached, he said. Head of Amdocs in Russia Rafael Charity stated that he does not comment on failed transactions. With Comverse representative was unable to communicate.
Recently «SITRONICS» rid of the distribution business, selling it to its former president Yevgeny Utkin. In response to the crisis, shareholders «SITRONICS» considering other options to optimize the assets of the company, and they had the idea to sell the billing area, along with the distribution business, said close to one of the «daughters» «Systems» manager. This was the option for a rainy day, he adds. Telecommunications unit – one of the fundamental and valuable asset «SITRONICS», ensured in 2008, 39.3% of revenues, observed Philippov.
But «SITRONICS» high level of debt burden (debt exceeds the company’s OIBDA of 4.6 times), reminds the analyst «Uralsib» Konstantin Belov, and reduce it by only operating activities is very difficult. Sales of all telecommunication businesses «SITRONICS» in 2008 was $ 787.1 million, OIBDA – $ 55,1 million Analyst «Veles Capital» Ilya Fedotov evaluates it in two indicators of OIBDA – slightly more than $ 110 million but the proportion of billing in This business is small, he said. For foreigners, it would be interesting to have access to contracts with ITT, which bought billing at «SITRONICS», pariruet Belov of «Uralsib».
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Categorized | Mergers & Acquisitions (IT)
Sistema may sell the company SITRONICS Telecommunication Solutions “
Posted on 01 June 2009