MTS acquires 58.38% of security and 'smart home' services provider Gulfstream Security Systems for 2 bln rubles
MOSCOW. April 14 (Interfax) - MTS has bought a stake of 58.38% in JSC Gulfstream Security Systems, which specializes in providing security and smart home services, MTS CEO Viacheslav Nikolaev said at a press conference on Thursday.
The deal is valued at 2 billion rubles, and its terms also stipulate the consolidation of 100% of the company within 3 years.
MTS did not specify the seller of the stake.
MTS will use the asset to develop the new "Smart Home" line of business.
JSC Gulfstream Security Systems was founded in 1994. The company provides comprehensive solutions for protection against intrusion, fire and water leakage, as well as smart home elements; solutions are available for installation in houses, offices, apartments and stores.
Smart home technologies have been talked about for several years, but the offerings so far have included the sale of individual smart appliances rather than comprehensive solutions, Nikolaev said.
"Many technologies that MTS is developing, such as intelligent video surveillance, data analytics, IoT platforms and networks, can be the basis for fundamentally new solutions for real estate security and digital home and office management," Nikolaev said.
Within 3-5 years, MTS aims to provide about 10 million households with "smart home" solutions.
MTS could invest at least several hundred million rubles in the next several years in developing this new area of business. Among other things, MTS and Gulfstream will jointly invest in M&A in the smart home segment, Gulfstream CEO Alexei Davydov, who will supervise the new line of MTS business, said. This includes venture deals in the market.
The business will develop along 4 vectors: security (protection against break-ins and accidents, smart insurance, climate control, utility payments), video analytics, geolocation and assistance services (medical assistance, SOS button, geotracking of children and relatives), home services (interaction with management companies, delivery, household services, etc.).
At the first stage of cooperation, in 2022, the companies will release an IP camera produced by MTS AI (VisionLabs) with a rapid response button from Gulfstream.
According to the SPARK-Interfax system, Gulfstream Security Systems JSC revenue in 2021 remained almost unchanged from 2020 and amounted to 1.73 billion rubles. Profit from sales fell 23% to 294 million rubles, while net profit fell 9% to 182 million rubles.
According to the materials of Gulfstream Security Systems, the company was founded in 1994. In 1999, its shareholders were U.S. trading company U.S. Express with 67% of shares, U.S. trading company Misash Security Systems, Inc. with 18%, Veniamin Pismann with 6.3%, Artur Fayzullin with 3.8% and Ildar Naskhutdinov with a stake of 2.5%.
According to SPARK-Interfax data from 2009, the company was 100% owned by Renninga Holdings Limited (Cyprus). More current information about the beneficiaries was not disclosed.