CMS Russia has advised S8 Capital on the sale of ELT-Poisk business to a foreign private fund specialising in FinTech investments. The transaction value is not disclosed.
ELT-Poisk is a market leader in the development and implementation of IT solutions for automating the interaction of car dealers, leasing companies, insurance companies and banks. In 2018, Russian dealers issued over 700,000 insurance policies in this system.
Partner Hayk Safaryan led the deal team of CMS Russia and was supported by Mikhail Panferov and Vladislav Eltovskiy.
S8 Capital is a diversified Russian holding company with assets in the financial and telecommunications sectors, e-commerce, digital media, and retail. All the businesses are engaged in high-tech products and services based on big data. The holding company has created an innovative IT platform for the integration and maintenance of new services, products and businesses. The founder and shareholder of S8 Capital is the Russian businessman Armen Sarkisyan.