1 Sep 2023 14:58

VimpelCom acquires 95% of Internet content delivery provider CDNVideo

MOSCOW. Sept. 1 (Interfax) - VimpelCom is now the owner of 95% of CDNVideo LLC (the operator of the CDNVideo content delivery network), according to the Unified State Register of Legal Entities.

The changes were registered on August 30. According to the SPARK-Interfax information and analytical system, 88% of CDNVideo LLC was acquired from Hong Kong Wangsu Science & Technology Company Limited registered in Hong Kong, another 5% was purchased from the company's CEO Yaroslav Gorodetsky (thus reducing his share to 5%), while the remaining 2% belongs to Sergey Ivlenkov.

Vimpelcom has not commented on the deal.

Hong Kong Wangsu's intention to sell its 88% stake in CDNVideo to VimpelCom was reported in February by ComNews. The transaction amount was 920.48 million rubles, the publication said. The Chinese company then reported that, based on the results of an audit of CDNVideo's financial indicators for 2022, the transaction price would be adjusted.

CDNVideo operates a content delivery network (CDN) with nodes installed in 20 cities in Russia, as well as in Belarus, Kazakhstan, Moldova, Germany, the Netherlands, the USA, Azerbaijan, Armenia, Israel, Uzbekistan, Kyrgyzstan and Singapore.

CDNVideo LLC was founded in March 2010. At the end of 2022, the company's revenue totaled 501.4 million rubles, with a net profit of 21.3 million rubles.