RDIF Invests In Creation Of Russian Cloud Service

The Russian Direct Investment Fund on Monday announced joining forces with Russian telecommunication company ER-Telecom Holding to invest in setting up an independent cloud service in Russia

MOSCOW (UrduPoint News / Sputnik - 19th April, 2021) The Russian Direct Investment Fund on Monday announced joining forces with Russian telecommunication company ER-Telecom Holding to invest in setting up an independent cloud service in Russia.

The investors have purchased a 100-percent stake in the Russian subsidiary of the Netherlands-based Linx Telecommunications Holding, including the LinxCloud platform and two large data centers in Moscow and St. Petersburg. The acquired assets will be used to create the cloud network in question.

"The Russian Direct Investment Fund (RDIF, Russia's sovereign wealth fund) alongside JSC ER-Telecom Holding (Dom.ru and Dom.ru business trademarks) and Talos Fund I LP, the leading fund from the middle East specializing in investment in advanced technologies including AI, today announced a joint investment in the creation of a leading autonomous cloud service in Russia based on Linxdatacenter assets," the RDIF said in a statement.

The joint cloud platform will serve major Russian and international companies, according to the statement.

"The priority for our platform is to develop Russia's leading cloud service based on advanced AI technologies. Successful implementation of the project will be possible by using RDIF's experience in implementing high-tech projects, ER-Telecom's technological support as well as the expertise of the Fund's international partners," RDIF CEO Kirill Dmitriev said.

The RDIF has been actively investing in multiple technological ventures, cooperating with partners in Russia and abroad.