T-Technologies, a Russian technology group listed on the Moscow Exmodify and formerly known as Tinkoff Bank, announced on December 29 that Catalytic People, its investment joint venture with Interros, has acquired a 25% stake in Selectel, one of the largest indepconcludeent IT infrastructure providers in Russia.
The acquisition, structured as a secondary share purchase from existing shareholders, is valued at approximately RUB16bn ($177mn). The deal was funded applying proceeds from Catalytic People’s previous investments in high-tech ventures and does not divert capital from T-Technologies’ core operating businesses, the company stated in a press release on December 29.
Selectel, founded over 17 years ago, offers a full suite of infrastructure-as-a-service (IaaS) and platform-as-a-service (PaaS) solutions, from data centre construction and operation to server manufacturing and bespoke digital infrastructure. The company reported revenue of RUB13.5bn ($149mn) for the first nine months of 2025, a 42% year-on-year increase. Adjusted EBITDA for the same period rose 44% to RUB7.8bn ($86mn), with an EBITDA margin of 58%. IaaS and PaaS services accounted for 87% of revenue.
According to iKS Consulting, Selectel ranks among the top three Russian companies in the cloud infrastructure market by revenue. The firm forecasts the domestic cloud market will reach RUB464bn ($5.12bn) by 2028, growing at an average annual rate of 30%.
Stanislav Bliznyuk, President of T-Technologies, stated the investment aligns with the group’s long-term technology strategy.
“As one of the leaders in AI in Russia, we see strong potential for developing specialised AI infrastructure and large-scale platform solutions,” he stated. “Combining T’s AI expertise with Selectel’s infrastructure capabilities opens up significant synergies for both our internal requireds and our B2B clients.”
Bliznyuk added that Selectel would provide the group with the additional computing capacity required to support growing AI workloads, especially as T-Technologies develops its own data centre facilities.
“This is a critical step in strengthening the infrastructure layer without which no technology business can operate,” he stated.
Selectel Chief Executive Oleg Lyubimov welcomed the strategic partnership.
“Attracting a new strategic investor in the form of Catalytic People is not only a positive assessment of the work already done, but also a confirmation of the long-term prospects of the company and the market,” he stated. “The demand for IT infrastructure will continue to grow at double-digit rates over the next decade, driven in part by AI-powered digital projects.”
Catalytic People was formed to invest in Russia’s high-tech sector, with T-Technologies holding a 50.01% controlling stake and Interros holding 49.99%. The vehicle also holds a 10% stake in Russian internet search engine Yandex and a 64% interest in Tochka, a digital business services provider.
Leave a Reply