History
SITRONICS was established in December 2002 as a Scientific Concern consisting of JSC NIIME & Micron (a Russian micro-electronics producer) and STROM Telecom (a Czech telecommunications equipment and software manufacturer).
The next milestone in SITRONICS’ development occurred in June 2004, when the Company gained a controlling share in Kvazar-Micro, the largest Ukrainian IT-company. As a result of this, the Company launched an IT-services business line. In 2005, assets that formed the Scientific Concern, as well as Kvazar-Micro and SITRONICS (which produced consumer electronics under the SITRONICS brand), were consolidated into JSC SITRONICS.
In June 2005, SITRONICS purchased a majority stake in INTRACOM TELECOM (a Greek company). This purchase gave SITRONICS access to Southern European, Middle Eastern and African telecommunication service markets, which generated substantial product range synergy, as well as opened up numerous R&D designs.
In February 2007, SITRONICS placed 17.5 % of its shares on the London Stock Exchange (ticker symbol: SITR). The $356.4 mln raised (from the listing) was used to introduce new technologies and fund corporate development.
Beginning in 2008, the Company undertook key measures to optimize and integrate the Group’s businesses: determining priority business trends, consolidating subsidiaries under a single umbrella brand and centralizing sales and marketing functions. In 2009, SITRONICS launched new products, concluded numerous landmark contracts, entered promising geographic markets and optimized costs.
In June 2011 JSC RTI purchased the majority stake of 63,074% from JSFC SISTEMA and became controlling shareholder of the Company.
