Rostelecom closes deal to buy anti-fraud system developer Fuzzy Logic Labs

MOSCOW. March 28 (Interfax) - Rostelecom closed a deal to obtain 100% of anti-fraud system developer Fuzzy Logic Labs LLC, the telecoms company said in a press release.

The amount of the deal was not disclosed. In accordance with the previously developed plan, the integration of Fuzzy Logic Labs will take just under six months. "We will strengthen the company's team with the necessary specialists and support them for promotion," Sergey Anokhin, Rostelecom First Vice President and CFO, says in the press release.

The main activities of Fuzzy Logic Labs are counteracting money laundering and both external and internal fraud. The company implements complex IT projects to organize secure transactions in various sectors of the economy: from the financial sector to retailers.

The deal will enable Rostelecom to develop advanced transaction security platforms. "The acquisition of the Russian developer Fuzzy Logic Labs makes it possible to supplement the range of digital products and services offered to corporate clients to ensure the security of business processes, primarily in the field of providing financial services and services using innovative technologies," the release says.

Interfax reported on this deal in early March. It was made using companies within the Rostelecom group: 99.99% of Fuzzy Logic Labs LLC went to Westelcom, and the remaining share to AMT. According to SPARK-Interfax, the sellers were Alexander Vologdin and General Director Fedor Larionov.

Fuzzy Logic Labs LLC was registered in October 2016. The charter capital is 600,000 rubles. Sales revenue in 2022 totaled 344.86 million rubles, with a net profit of 234.54 million rubles.