VK pays 2.5 bln rubles for 25% of Russian office software developer R7

MOSCOW. March 20 (Interfax) - Technology holding VK paid 2.5 billion rubles for a 25% stake in office software developer R7 in 2024, according to the holding's financial report.

It was reported in February 2025 that VK had closed a deal to acquire a 25% stake in R7. The cost of the deal was not disclosed.

"During 2024, the group acquired 24.996% of shares in R7 for a cash consideration of 2.5 billion rubles," the holding's report said. This values the whole of P7 at 10 billion rubles.

VK previously said that the deal was implemented as part of the development of its technology division, VK Tech, which is considering the possibility of an IPO.

In October 2024, VK and R7 announced a technological partnership, resulting in a comprehensive offering for users and clients. The cloud-based document, spreadsheet and presentation editors of R7-Office were integrated into user products, Mail and Mail Cloud, as well as into VK Tech products for corporate clients, VK WorkSpace.

BusinesStat estimates the office software market at 77.7 billion rubles in 2024, up 17.7% from the previous year.

JSC R7 was founded in 1998 by Lev Bannov and Alexei Ryazanov in Nizhny Novgorod. Its key product is the R7-Office suite, which includes a text editor, spreadsheet and presentation tools, corporate email, a messenger, a video conferencing service, and other elements. According to the company's website, R7-Office is used by more than 4,000 Russian companies.

According to data from the SPARK-Interfax analytical system, JSC R7's revenue amounted to 2.8 billion rubles in 2023, up 1.9-fold compared to the previous year, with a net profit of 1.9 billion rubles, also up 1.9-fold.