Kaspersky Lab Buys Stake in Tech Company New Cloud Technologies

Russian cyber security provider Kaspersky Lab has announced the acquisition of a 29.5% stake in New Cloud Technologies (NCT), Finansovaya Gazeta reported.

Launched in 2013 — now with offices in Moscow, St. Petersburg and Innopolis (Tatarstan) — NCT develops complex cloud solutions for online mass storage and document processing. Its flagship product is MyOffice, a Russian-language suit of SaaS solutions for Business-to-Business (B2B) customers.

The financial details of the deal have not been disclosed publicly, but NCT’s press service said Kaspersky purchased the stock from NCT’s major shareholder Andrey Cheglakov. As a result, the latter has retained a 48.3% stake.

With Kaspersky being among its shareholders, NCT hopes to improve MyOffice’s security to be able to better withstand viruses and malicious attacks, and protect its data.

“The deal will also help NCT to expand its business, attract new experts in its team, and guarantee the stability for its employees for years ahead,” said NCT founder and CEO Dmitriy Komissarov.

In April, three of NCT’s minor shareholders —Nord Stream 2 AG CEO Matthias Warnig, former vice-president of oil giant Rosneft, and private investor Thomas Hendel, and private investor Aleksey Kirsanov — decided to sell their shares. They sold their stake (0.9%, 2.25% and 5% respectively) to Cheglakov, who increased his share in the company’s capital to 77.8%.