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Press07.10.2009
ARMADA’s Board of Directors reviews M&A strategy for 2009-2010
Moscow, October 7, 2009 — At yesterday’s meeting, the Board of Directors of ARMADA (MICEX, RTS: ARMD) considered possible acquisition targets for 2009–2010. The Board of Directors has resolved to continue with its mergers and acquisitions strategy on the Russian IT market in the software and IT services segments. The likeliest targets will be growth companies boasting a strong potential for the next three to five years. In 2007, ARMADA sealed three M&A deals; it acquired Soyuzinform, PM Expert, and ETC — with all three meeting the said criteria. The Board of Directors also appointed the company’s Chief Technology Officer Roman Kruglyakov to a vacant position on its Executive Board — a post that had been unoccupied ever since Dmitry Milovantsev stepped down in April 2009. Roman Kryglyakov has worked for the company since 1997, and has been Chief Technology Officer since 2002. In this capacity, he has made a significant contribution to shaping the company’s product range. The Executive Board is a collegial executive body set up in ARMADA in September 2008 to facilitate prompt decision-making and responses to changes in the market environment. The Executive Board is led by Chairman of ARMADA’s Board of Directors Alexei Kuzovkin. Investor and mass media contact: Dmitry Chursin |
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