CMS Russia has advised S8 Capital on the sale of ELT-Poisk — a motor insurance and lending platform that provides development and implementation of IT solutions for automating the interaction of car dealers, leasing companies, insurance companies, and banks — to an unidentified foreign private fund specializing in FinTech investments.
The transaction value was not disclosed.
S8 Capital is a diversified Russian holding company with assets in the financial and telecommunications sectors, e-commerce, digital media, and retail. All the businesses are engaged in high-tech products and services based on big data. The founder and shareholder of S8 Capital is Russian businessman Armen Sarkisyan.
The CMS team was led by Partner Hayk Safaryan, supported by Associates Mikhail Panferov and Vladislav Eltovskiy.
CMS said it was unable to disclose additional information about the deal.