The leading Russian IT holding, IBS Group has announced the sale of 100% shares in computer manufacturer, DEPO Computers via a management buy-out. The deal is expected to be completed within forty-five days. The deal will allow IBS Group to focus entirely on IT services and outsourcing, software development and implementation.
Founded in 1995 as a computer distributor, DEPO Computers started making computers under its own DEPO brand in 2002. The company reported revenues of $516 million in financial year 2007 (from April, 1 2007 till March 31, 2008). DEPO Computers could be valued at $30 million including $15 million in debt, reported newspaper Vedomosti.
DEPO Computers is the largest domestic market desktop PC manufacturer and the second largest server manufacturer. The company sold more than 110 thousand personal computers in H1 2009, which accounted for 4.2 percent of PC market in Russia. The PC sales reached 9.5 million in Russia in 2008, up 8% from 2007.