Rostelecom structure bought cybersecurity auditor Digital Security

The purchase will allow “to gather one of the largest teams of specialists in the field of pentesting (penetration security testing) in Russia” to implement “large-scale projects, including the development of new ecosystem solutions,” Solar said. The format of integration with Rostelecom will be determined later, the company added.

The amount of the transaction, according to the book value of Digital Security, could be 170 million rubles, and according to the profit and loss account, approximately 100 to 180 million rubles, calculated Timur Nigmatullin, senior investment consultant at Finam . RegBlok chief analyst Anna Avakimyan noted that the value of the asset could be increased “up to a 1.8 to 2.5 multiplier of capital,” given the company’s leading position in the industry and “the team of specialists gathered”. “The upper limit of the estimate is close to 400 million rubles,” the expert clarified.

By the end of 2024, the Russian market for cybersecurity audit services will amount to 2.7 billion rubles and will continue to grow by 20% every year, Solar told Kommersant. The company attributed this to tightening regulatory requirements and an increase in the number of cyber incidents. Denis Senyukov, head of the financial sector department at Informzashita, predicted that market growth in 2024 will be more than 30%.

• Solar Security LLC (Solara legal entity) was registered in 2015 in Moscow. In 2023, the company’s revenue amounted to 3.9 billion rubles, and net profit – 894 million rubles, according to data from Rusprofile.

• Digital Compliance LLC (digital security legal entity) was registered in 2015 in St. Petersburg. The company’s revenue in 2023 will amount to 251 million rubles, and net profit will be 35 million rubles.