MTS acquires Webinar ecosystem of video communication services for business
MOSCOW, Russia – Mobile TeleSystems Public Joint Stock Company (“MTS” or “the Company”) (NYSE: MBT; MOEX: MTSS), Russia’s largest mobile operator and a leading provider of media and digital services, announces the acquisition of a controlling stake in Webinar group of companies (the Webinar Meetings, Webinar.ru, We.Study and COMDI brands), the largest Russian developer of services for online meetings, events, training and webinars.
Webinar was founded in 2008 and today is the leader among Russian videoconferencing solutions and video services for corporations. Over the past 12 months, more than 22 million users have used Webinar products, and more than 10,000 organizations have become clients during the whole period. Webinar services are included in the register of domestic software and have their own server infrastructure in Russia.
Commenting on the deal, MTS First Vice President for Telecommunications Inessa Galaktionova said: “The acquisition of the undisputed Russian leader in the video communications segment, Webinar, will not only organically complement our ecosystem of B2B services but will also give us the opportunity to create our own Russian analogue of Zoom—a single universal application for video calls and conferences, and in the future for our B2B clients—integrated with videoconferencing services through synergy with Telecom API and artificial intelligence solutions.
“The Russian videoconferencing market is growing at a very fast pace due to companies’ transition to remote work during the pandemic and the current process of import substitution. As Western competitors leave the Russian market, this niche should be filled by high-quality domestic solutions. And Webinar already today offers services that can successfully replace the solutions of Western providers.”
Webinar will function as a separate structure within MTS Group and will continue to be managed by the current team. The deal has received all the necessary corporate approvals and permission from the Federal Antimonopoly Service.
About Webinar Group
Webinar offers the following cloud and packaged solutions: Webinar Meetings, a service for online meetings and conferences; Webinar, a platform for holding webinars; and We.Study, a platform for organizing blended learning for employees, customers, partners and students. Webinar also includes COMDI, a division that supports large virtual and hybrid events on its own streaming platform.