Prodamus, an aggregator of payment systems for online schools, has bought a platform for creating online courses AXL, Roman Mamutkin, owner and CEO of Prodamus, told Vedomosti. The completion of the transaction was also confirmed by the co-owner and CEO of AXL, Dmitry Yurchenko.
The amount of the transaction amounted to about 480 million rubles (or seven annual revenues of AXL), both interlocutors of the publication indicated. Mamutkin said that Prodamus will participate in the technological development of “10X IT Solutions” (the Russian legal entity AXL) and plans to increase revenue 12 times by 2025-2026 as a result of the transaction.
According to Yurchenko, in 2022 “the decision was made to sell the Russian part of the AXL business and develop it on international markets.” The asset was assessed based on the growth rate of AXL’s revenue, which in the first half of this year reached 47 million rubles. For all of 2022, 10X IT Solutions received RAS revenue of 35 million rubles.
Prodamus will also invest some 300 million rubles. The funds will be used for the technological development of the asset, the increase of the team and the promotion.
Prodamus is a specialist in integration services for online schools of payment systems (Mir, Mastercard, Visa, etc.), as well as electronic payment systems (Qiwi, Webmoney, etc.). The international platform AXL builds functionality for users to start schools online (now there are about 3.7 thousand on the platform)
At the beginning of August, Prodamus disconnected from one of the most popular platforms for creating online schools, Getcourse. The company itself said that they found out about the closure from users. This step by Getcourse was preceded by the creation of its own payment module by the platform.
“Our business depends on such platforms and we need to remove this risk factor,” Mamutkin explained.
According to SPARK-Interfax, Dmitry Yurchenko is the sole owner of 10X IT Solutions. At the same time, the AXL representative specified that, in addition to his share in the asset, Yurchenko nominally owns the share of another co-owner, Daniil Musatov, in it. How the shares are distributed among the co-owners, the representative of the platform did not specify.
“With its own IT platform for launching online schools, the company will be able to build a complete ecosystem of educational products,” Mamutkin says.
At the end of 2022, Prodamus LLC received revenue of 1 billion rubles, net profit amounted to 240.7 million rubles. According to experts, the deal will help Prodamus become a competitor to Getcourse.
Author:
Natalia Gormaleva
Source: RB
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