S&T System Integration & Technology Distribution AG, the Vienna, Austria-based company that has become a major IT services operator in central and eastern Europe, has formed a joint venture with the Moscow-based TechnoServ Group, to develop projects in the Russian market.
It has formed a new company S&T Business Development GmbH, with S&T owning 51%. This operation will set up a wholly-owned subsidiary in Russia, S&T TechnoServ Leasing, and plans to offer a range of IT services, including mission critical computing, data storage, data security, networking systems, technical and commercial software applications and project management. The partnership is aimed at expanding TechnoServ’s client base in the telecom, transport, and financial services sectors.
S&T CEO Thomas Streimelweger said many IT firms have closed or scaled down their operations in Russia as a result of the economic crisis. However, IDC estimated Russia’s IT spending was $2.2bn in 1998.
