Systematica has completed its takeover of SAP-Integrator
In spite of rumours doing the rounds on the market about a breakdown of the transaction, five months after obtaining FAS approval Systematica has completed its purchase of 86% of Sainer, the SAP-Integrator which specialises in generating companies.
Five months after obtaining approval from the Federal Antimonopoly Service (FAS), Systematica has closed the deal to purchase Sainer. The financial terms of the deal have not been disclosed. This is a question of 86% of the integrator’s charter capital. This stake was acquired from the company’s private owners, the Group explained to CNews.
Sainer grew out of the IT department at Belgorodenergo, and has a large portfolio of orders in the power industry. Among its clients are FSK YES, various interregional grid distribution companies, Moscow Combined Generation Company, and others. The main competence of the integrator is implementation of SAP modules. For this work Sainer is the main contractor for 11 branches of Tsentr Interregional Grid Distribution Company. Further, the integrator has partner status with FujitsuSiemens and IDS Scheer (this appeared after acquisition of Fainomika in June 2008).
“This acquisition is part of our strategy to expand the business into the electricity generation sector,” said Leonid Goldenberg, president of the Systematica Group in commenting on the completed transactions. “This takeover will facilitate strengthening our holding in the spheres of ERP, ECM, security systems, video surveillance, biometrics, infrastructure solutions, and also energy technology.”
The purchaser does not intend to spread Sainer’s skills through the group’s existing divisions – the integrator will remain a separate company, Systematica announced to CNews. “The company has a strong brand which is well known on the energy market, and so we will maintain it,” a Group representative said.
At present, Sainer’s general director is Maxim Lesnichenko, and the executive director is Alexei Chernikov. In reply to the question of possible personnel changes among the management of the new company, Systematica stated: “we adhere to a proper and well thought-out approach to any changes, including personnel matters.”
Sainer’s general director will report to Leonid Goldenberg. “Under our management structure, the company’s managers are under the control of the vice-president for the appropriate specialisation,” stated Systematica. There will be no Sainer representatives on the Group's Board of Directors: “It includes representatives of the shareholders and independent directors, and so there is no reason to change its composition because of the new purchase.”
Changeover of staff in the purchased integrator is possible, but not in the near future, said Systematica, which is considering the possibility of combining all the group’s companies in a single area.
In the course of the five-month hiatus, rumours emerged on the IT market that the deal would not go ahead. Several people spoke to CNews about this straightaway, one of whom specified that the problems were connected with the desire of one of Systematica’s shareholders – A1 (which is in the Alfa Group) – to change the strategy for the group’s development. Both parties to the deal made no comment to CNews on this information, as did А1.
Now Systematica is explaining the hiatus after the FAS’s decision as carrying out procedures for the final agreement on the transaction parameters with all the shareholders: “Once we achieved complete agreement, the transaction was closed.”