Investor Alert

June 12, 2019, 4:17 p.m. EDT

Russian Federation : Sberbank, Sberbank Telecom and Orange Business Services to build smart cities

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Jun 12, 2019 (Euclid Infotech Ltd via COMTEX) -- Sberbank, Sberbank Telecom and Orange Business Services have signed a cooperation agreement on joint participation in the development of smart city projects.

Under the partnership, Sberbank will establish a strategy and provide operational and financial support, Orange Business Services will provide access to the international and regional experience of Orange Group, and technical solutions in the area of Internet of Things (IoT), big data analysis and software development, and Sberbank Telecom will act as an integrator of Sberbank Groups solutions.

Ruslan Gurdzhiyan, CEO of Sberbank Telecom:

The Internet of Things is a new hi-tech market with remarkable growth potential. Smart cities are largely based on IoT technology an important area not just in terms of business, but also social responsibility. The combination of the opportunities offered by Sberbanks ecosystem coupled with the global experience of Orange and Sberbank Telecoms centre of competencies will allow us to become a major smart city player, an area which has strategic importance.

Richard van Wageningen, Senior Vice President of Orange Business Services for the IMEAR Region (Indirect, Middle East, Africa and Russia):

Orange has taken part in more than a hundred smart city projects in Europe, Asia and the Middle East. We have worked on individual elements of these cities, such as transport systems, the environment, housing and security, and also developed their overall digital service concepts. Russias Digital Economy programme places significant focus on increasing the competitiveness of Russian cities and creating comfortable conditions for their residents. I am certain that together with our partners we will achieve these objectives.

The smart city is a concept that allows urban property and assets such as transport, the environment, education, housing, and healthcare to be more efficiently managed using IoT technology, for example, sensors and other devices that gather a diverse range of information. Orange Business Services has carried out more than 100 of these projects in Europe (Mongenvre in France and Alba Iulia in Romania), Africa, Asia (the state of Gujarat in India), and the Middle East (Doha in Qatar).

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