Siemens joins line to buy TNK-BP IT subsidiary
MOSCOW. Aug 4 (Interfax) - Russia's Russian Federal Antimonopoly Service (FAS) has approved the German company Siemens IT Solutions and Services Verwaltungs-GmbH's application to purchase 100% of LLC TBinform, an OJSC TNK-BP Holding subsidiary, the FAS said.
The FAS had issued similar go-aheads to OJSC Systematica Company Group and TeitoEnator Global Oy of Finland in July.
TBinform was set up in late 2006 with the purpose of beefing up IT security and improving protections for its parent company's corporate data.
According to the SPARK database, TBinform's sales revenues last year were over 1.449 billion rubles (down 7.5% from 2008) and its net profits were 89.714 million rubles (down 15.4%).