MTS says buys 51% in smart vehicles IT developer

MOSCOW, Apr 27 (PRIME) -- Russian mobile operator MTS has acquired a 51% stake in firm Project Environment, an IT developer and integrator of telematics solutions to control commercial automobile fleets, working under brand SCOUT-Corporate Solutions, the operator said on Thursday in a statement.

“SCOUT-Corporate Solutions will function in the MTS Group as an independent company, which will be run by its current team of founders and management,” MTS said.

The firm will replenish MTS’ ecosystem of business-to-business products thanks to the development of vertical Transport and Geo-navigation and strengthen the operator’s positions on the market of the Internet-of-Things in the segment of transport telematics.

“Now Russia’s fleet management market is heavily fragmented after the retreat of the Western players, but, according to different estimations, it will double in the next five years to 26 billion rubles,” MTS Vice President Oleg Aldoshin said.

(81.6274 rubles – U.S. $1)

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