Intracom Telecom Exits Russia

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Sep 09, 2022, 12:10 ET

Intracom Telecom has suspended its business in Russia since the beginning of the EU sanctions

ATHENS, Greece, Sept. 9, 2022 /PRNewswire/ -- Intracom Telecom, a global telecommunication systems and solutions vendor, announces its complete exit from the Russian market in the framework of the European Union sanctions on Russia imposed on February 25^th 2022. In parallel, Intracom Telecom has reached the deal on selling the 100% of its Russian subsidiary, Intracom SVYAZ LLC, on September 5^th 2022.

Mr. Kartlos Edilashvili, Acting CEO of the Intracom Telecom Group, stated: "We had already halted all our businesses in Russia since the beginning of the EU sanctions on February 25, 2022 and by finalizing this transaction we are completing our exit process. Intracom Telecom will continue focusing on its expansion plan to serve more customers around the globe, addressing their telecom and ICT business needs with Company's innovative products, solutions and services portfolio."

Intracom Svyaz LLC was a subsidiary of the Intracom Telecom Group, since its establishment in 2002, while the Group has had a long-standing presence in the Russian Federation through its representative office in Moscow since 1998.

About Intracom Telecom

Intracom Telecom is a global telecommunication systems and solutions vendor operating for 45 years in the market. The company has become the benchmark in fixed wireless access and it successfully innovates in the 5G/4G wireless RAN transport and small-cell SON backhaul international arena. Intracom Telecom offers a comprehensive revenue-generating software solutions portfolio and a complete range of ICT services, focusing on IoT, SDN/NFV, Big Data analytics & data-driven intelligence, and Smart City solutions. Moreover, it addresses the Energy & Utilities industry, emphasizing on smart metering and end-to-end IT solutions. Intracom Telecom is also active in the defense systems sector providing security integrated systems for critical infrastructure protection and border surveillance. The company has extensive know-how and a proven track record in the market, serving fixed and mobile telecom operators, public authorities and large public and private enterprises. Intracom Telecom maintains its own R&D and production facilities, and operates subsidiaries worldwide. For more information please visit: www.intracom-telecom.com

SOURCE Intracom Telecom