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Interview with Vitaliy Kononov: NEOLANT included into top 20 rank of the most rapidly growing IT-companies in Russia

12.08.2013

Group of rating agencies Expert RA included NEOLANT into top 20 rank of the most rapidly growing IT-companies by the results of 2012. Vitaliy Kononov, NEOLANT CEO, was interviewed by Media company The Mergermarket Group (a part of the Financial Times Group) about this question.

NEOLANT, a Russian solutions supplier for fuel-energy complex and state sector, is on the lookout for acquisitions as well as eventual listing, founder and Chief Executive Officer Vitaliy Kononov said.

With five acquisitions on its track record, the company has bought one company a year. It is currently considering a few options and is likely to close a deal by the year-end, the CEO said.

NEOLANT is looking for targets in the USD 3-5m range within engineering and information technology sectors. The company wants to grow its engineering operations to account for more than a half of its business, from around 10% at present, as well as strengthen its positions as a systems integrator. It is looking to acquire fully or majority stake, the CEO said adding that in-house advisers will be used.

In order to strengthen its resource base, NEOLANT is after targets' in-house developed technology as well as highly-qualified staff of up to 70 people.

Its latest acquisition of Infoling, a systems integrator, was completed in 2012 for an undisclosed amount and is now operating under NEOLANT Infoling. In its previous deals, NEOLANT was approached by companies looking for investors, as well as searching for the targets itself.

In 2014, NEOLANT may also attract a financial investor to raise funds for anticipated projects. It would offer a minority stake in exchange, the CEO said, adding that it has been previously approached six times with various buy offers.

Having founded NEOLANT in 2004, Kononov owns 90% of the stake. The remaining shares belong to the company’s business development director Novikov Pavel, who is also on its board.

NEOLANT’s longer term strategy involves eventual IPO in order to gain stability as well as attract capital. It would look to reach a significant level of turnover before going public, the CEO said, adding that the listing could take place in 2016-2018. The stock exchange would be chosen depending on whether NEOLANT would stay an IT or would become an engineering company by the time, the CEO added.

NEOLANT generated EUR 35m turnover in 2013, up from EUR 28m in previous year, the CEO said adding that some of the company’s divisions have from 40% to 100% annual growth.

NEOLANT provides development and implementation of information systems for decision-making support based on the integration of technologies, as well as engineering and information support of oil-and-gas and nuclear objects on different life cycle stages.

The company has two engineering centres specialising on oil-and-gas and nuclear power. Its clients include Gazprom, Lukoil, Rosatom, Rosneft, Rushydro and Transneft.


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