SITRONICS is the largest hi-tech company in Russia, the CIS and Eastern Europe today. The company was established in December 2002 as KNC, which incorporated the Russian microelectronic enterprise NIIME & Mikron and STROM Telecom, the Czech telecom equipment manufacturer.

JSC NIIME & Mikron, the leader of Russian microelectronics industry leader, was founded in 1964. During the post-Soviet period, the company managed to preserve the best traditions of the Soviet scientific research and industrial education in the field of high technology. STROM Telecom was established on the basis of one of the Czech Tesla enterprises. STROM Telecom provided competitive telecom solutions at a time when the mobile communication sector boom in Russia was beginning, and the modernization of fixed communication networks became imperative.

The next stage of SITRONICS' development was the acquisition, in July 2004, of the majority stake in Kvazar- Micro, Ukraine's largest IT company, thus creating a business division related to IT services. In 2005, the assets owned by KNC, Kvazar-Micro and SITRONICS, a producer of consumer electronics, were consolidated to form SITRONICS.

SITRONICS pursues the establishment of long-term partnerships with industry leaders. In March 2006, the Microelectronics business division launched the production of smart cards within the joint venture KSC, created with participation of the German company Giesecke & Devrient, the leading European developer and producer of smart cards, security papers and bank notes. In November 2006, SITRONICS announced the formation of a regional alliance with Cisco Systems for collaboration on the fastgrowing telecom market of Russia and the CIS, as well as in other emerging markets.

In June 2006, SITRONICS acquired a majority stake in the Greek company INTRACOM TELECOM, thus entering the new telecom markets of Southern Europe, the Middle East and Africa, as well as enriching its product and solutions portfolio.

In February 2007, SITRONICS listed its shares on the London Stock Exchange, the Russian Trading System and Moscow Stock Exchange.

In June 2007, SITRONICS' 100% owned subsidiary, Sitronics Finance S.A., has successfully redeemed US$ 200 million of outstanding Eurobond Notes. SITRONICS financed approximately US$ 100 million of the redeemed Eurobond Notes using its IPO proceeds. The remaining part of US dollar denominated debt was refinanced through  short-term bank financing.

In September 2007, SITRONICS placed the first RUB 3 billion bond issue in line with its intention to refinance part of the US dollar denominated debt into local currency to increase the visibility in its cash flows.