Positive Technologies co-founder’s fund to buy part of FACCT assets and create new information security company

As part of the agreement, FACCT shareholders, including its founder Ilya Sachkov, will transfer “unique engineering technologies, experience, intellectual property and current contracts” to the future company. The FACCT team will also move to the new organization.

The shareholders of the new company will be Cyberus, which will receive 47%, and private investors, whose participation each will be 5% to 10%, a representative of the fund said in conversation with Vedomosti. Cyberus will not participate in the operational management of the future organization and FACCT shareholders will not be part of its structure.

The new company will be led by FACCT CEO Valery Baulin. The transaction to transfer FACCT assets to the future organization begins on November 29. The investors plan to complete the legal procedures in the first quarter of 2025.

The amount of the transaction between the parties is not disclosed. Finam FG analyst Leonid Delitsyn estimated it at 4 billion rubles, and Vedomosti’s source on the cybersecurity market at 5 billion rubles.

Cyberus was created in 2022 by the co-founder of the cybersecurity company Positive Technologies, Yuri Maksimov, and other investors. The fund, together with market players, creates new products and invests money in information security projects to develop the cybersecurity industry in Russia.

FACCT was founded in 2003 by Ilya Sachkov and develops software to prevent cyberattacks, combat fraud and protect brands. In September 2021, Russian authorities arrested Sachkov on charges of transmitting information that constituted state secrets. In July 2023, the Moscow City Court sentenced him to 14 years in prison.