TRANSAS and IIG Creating Strategic Alliance
TRANSAS, Russia, has entered into a strategic partnership agreement with Industrial Investors Group (IIG), which also will be a shareholder of TRANSAS. Industrial Investors Group (IIG) acquired 25%+1 share in TRANSAS with the total transaction amount equalling USD50 million. This deal has brought the intellectual potential and technological leadership of TRANSAS together with IIG's management expertise, strategic insight and financial resources.
This alliance provides TRANSAS with the potential to strengthen its international positions in avionics, aircraft simulators, unmanned aircraft, and virtual reality entertainment systems. At the same time the partnership would also contribute to further development of TRANSAS traditional areas of leadership: marine navigational and control equipment. This segment will probably benefit most from the new alliance, given that IIG have extensive experience in marine operations, owning Russia's largest dry bulk and container shipping company FESCO, and provide valuable input from the client's perspective.
At present there are no plans to further increase IIG's share of ownership in TRANSAS capital, and the acquisition does not entail any changes in TRANSAS senior operational management. The majority of proceeds from the acquisition have been reinvested into the development of TRANSAS' existing and new businesses.
