Sberbank may sell AFK Sistema a stake in VisionLabs - Reuters

Sberbank is preparing to sell to AFK Sistema its stake in VisionLabs, a developer of facial analysis and recognition technologies, Reuters writes citing sources. Instead, Sberbank will focus on a competitive project that is part of its ecosystem, the Speech Technology Center (STC) group.

Sberbank owns slightly more than 25% of VisionLabs shares, which it acquired from Sistema VC (Sistema's venture fund) and the founders of VisionLabs in 2017. The parties decided that Sistema's structure would buy Sberbank's stake back to avoid a conflict of interest, Reuters sources close to both companies say.

The amount of the transaction is not disclosed. At the agency's request, Sberbank and Sistema VC declined to comment.

• In 2016, Sistema VC acquired a 25% stake in VisionLabs for RUB 350 million. The company's business was estimated at 1.4 billion rubles.
• STC is developing voice and facial biometric systems, as well as solutions in the field of professional data processing, machine learning. The group came under the control of Sberbank in 2019. In the spring of 2021, its share in the MDGs increased from 51% to 75.29%.