Translated by

Red Soft of RedSoft

Company

Information technologies
Since 2006
Russia
Central Federal District of the Russian Federation
Moscow
105066, Dobroslobodskaya St., 6, building 1, et. 4, room I, lump. 7


Top managers:
Anisimov Maxim Vladimirovich


137 employees in 2017
300px

Assets

Red Soft — the Russian IT service provider and the solutions in the field of information management based on the software (S) open source. The company is created in 2006. Red Soft performs complex projects in storage area and data management on the basis of own technology stack.

The purpose of activity of Red Soft — creation of structure of development and support of the system-wide software based on the open code in the territory of the Russian Federation, including the industrial database management systems (DMS), support systems of functioning of data warehouses, knowledge management systems.

Red Soft actively expands a partner network. For March, 2019 agreements on technology cooperation with a number of industry companies are signed.

Performance Indicators

2018: Red Soft grew by 32% and prepares for full-scale replacement of Microsoft and Oracle in Russia

Revenue of Red Soft at the end of 2018 made 151.96 million rubles, having increased by 32%, follows from the annual report of the company. Net profit at the same time was reduced approximately by 12 times – from 6.775 million rubles to 549 thousand rubles.

The company received an overwhelming part of turnover from rendering services, and its small part - 4.555 million rubles fell on sales of licenses program.

In the annual report of Red Soft it is noted that in 2018 positive dynamics of sales of licenses for two flagship software products was observed: operating system "Red OS" and DBMS "Red Baza Dannykh". Also the company carried out a number of pilot projects of a system of face recognition of Gembaface on the basis of neural networks on which development it was focused the previous year. Following the results as a result of completions the product, ready for scaling, was created.

Red Soft develops products on replacement of import OS and DBMS and also own system of face recognition
Red Soft develops products on replacement of import OS and DBMS and also own system of face recognition

Decrease in net profit in the company is connected with several factors. First, it occurred due to growth of the accompanying and optional expenses, including the commissions concerning bank guarantees and service in the organization and service of issue of securities. In 2018 Red Soft performed issue of exchange-traded bonds with a total nominal value of 100 million rubles.

Negative dynamics of profit is connected also with expenses on interest payment on issuance securities and growth of interest expenses on the raised funds and payment of penalties and a penalty fee for improper execution of government contracts. One more factor in an imbalance between tax and the accounting created due to revaluation of intangible assets which had an impact on growth of income tax.

The factors having negative effect on key indicators of activity of the company, Red Soft in the annual report calls gain of the competition in the market of software developers and also the low level of execution of regulatory legal acts about transition of state agencies to domestic software.

The company is going to perform completion of all existing components of the information and technical complex (products "Red OS", "Red Baza Dannykh DBMS", "Red Platform of Document Flow") "for the purpose of full-scale replacement of products of Oracle and Microsoft in the Russian Federation".

Also Red Soft is going to increase the competitiveness due to practical application of separate elements of the system of face recognition developed by it in the existing products.

The agreement on completion, implementation and maintenance of subsystems of the AIS of Federal Bailiff Service for 2019 became the largest government contract in 2018 for Red Soft. Its volume was 132.1 million rubles. The FSSP was the largest state customer of the company and the previous year. In the general complexity for the history Red Soft created more than 30 state information systems, follows from the report.

In the annual report it is also noted that during the existence the company did not attract bank loans. The main sources of attraction of the loan capital was the money received by Red Soft under agreements of a cash loan from affiliates.

Products

Red Soft has own product line: "Red OS" DBMS "Red Data Base", "Red Platform of Document flow", Redshlyuz. All called products enter century Register of domestic software.

Customers

Among customers of Red Soft there are large commercial organizations and also more than 20 public authorities, including Federal Bailiff Service, the Prosecutor General's Office of the Russian Federation, the Ministry of Defence of the Russian Federation. Also projects in regions of Russia are implemented.

Development History

2019

Payment of income for the fourth coupon period

On May 13, 2019 the Red Soft company fulfilled obligations for payment of a coupon yield for the fourth coupon period (2/11/2019 — 5/13/2019).

The size of the accrued interest on one bond was 34 rubles 90 kopeks (14% per annum). The general size of percent which was subject to payment for bonds — 3,490,000 rubles.

«
Investments are aimed generally at the development of the existing products and development of new. Intend to save qualitative speed in this direction — Maxim Anisimov, the CEO of Red Soft told.
»

Final disclosure of the scheme of ownership

In May, 2019 Red Soft finally opened the scheme of ownership. According to the data published in service circuit.focus cofounders of the company with the general share about 25% are its founders Kirill Veselkin (12.5%), Rustam Rustamov (6.3%) and Alexey Koptev (6.3%).

The Deputy CEO and one of founders of Red Soft Rustam Rustamov owns 6.3% of the company
The Deputy CEO and one of founders of Red Soft Rustam Rustamov owns 6.3% of the company

Other shares are distributed between the coal magnate Anatoly Mitroshin (25.5%), the developer Sergey Zotov (25.5%) and the member of public council at the Ministry of Internal Affairs of Russia in the Moscow region Vyacheslav Komlev (24%).

The agreement with MTIZN the Orenburg region about creation of the authorized training center

On April 19, 2019 Red Soft reported that it signed the agreement with Training center of the Ministry of Labour and Employment of the Orenburg region on creation of the authorized RED SOFT training center. Read more here.

Gennady Timchenko's partner and the owner of large shopping centers of Moscow - cofounders of Red Soft

In March, 2019 in the USRLE the structure of owners of Red Soft was updated. As cofounders of one of the main legal persons of Red Soft - Anatoly Mitroshin and Sergey Zotov are registered as Red Soft Center LLC now. Each of them possesses about 25.5% in authorized capital of the company.

Share in 49% of the company – at Vyacheslav Komlev who since February, 2019 is also registered as the only founder of Red Soft LLC.

Earlier acted as founders Neural Networks company and Boris Hachikov – the CEO of Neural Networks.

Among co-owners of Red Soft - the famous businessmen<i> (a photo - boomin.ru)</i>
Among co-owners of Red Soft - the famous businessmen (a photo - boomin.ru)

Anatoly Mitroshin is known for the activity in coal business. He stood at the origins of creation of the Colmar coal company where the famous businessman Gennady Timchenko - one of the main owners of Novatek was his partner.

In 2017 Mitroshin sold 20% belonging to him in Colmar to one of partners[1], and in 2018 returned to coal mining of Yakutia: decided to resume work on the Chulmakansky field of the Dolguchan enterprise which owner he is[2].

Sergey Zotov is engaged in business in the field of construction and real estate administration. His Z-Build Group company exists from the middle of the 1990th years. As of the beginning of 2019 on the website of the company it is specified that in its management there are a business center "Kaluzhsky" and Kaluzhsky shopping Center in Moscow on Trade-union, Spektr shopping Center on Novoyasenevsky Avenue and trade and office complex "Kuznetsky Bridge".

Vyacheslav Komlev told TAdviser earlier that it initially was among the main owners of the company, and now there is a disclosure of a pool of participants who owned shares in the company through the closed investment share fund "UK Mfond" earlier - the main founder Neural networks. He explained an output of list of participants to more transparent level with plans to increase openness of the company. Red Soft plans an exit to the IPO, will be present at the stock market, and it is faced by federal tasks, Komlev said.

Concerning the above-stated cofounders Vyacheslav Komlev in a conversation with TAdviser noted that they are also not new to the company. But more detailed comments in the company could not provide quickly at the time of the publication of material.

Later Maxim Anisimov, the CEO of Red Soft, reported to TAdviser that Anatoly Mitroshin and Sergey Zotov were beneficiaries of the company through closed-end investment fund since 2017. According to the legislation, this information was not subject to disclosure.

In March, 2018 the company entered the public market that requires bigger openness. For disclosure of structure of ownership investors made the decision on transfer of all investments from shares into immediate possession, Anisimov explained. Red Soft aims to increase transparency of the processes happening in the company. It is important for customers and partners of the company, and Red Soft actively works in this direction, he says.

«
Mitroshin A.V. and Zotov S.V. take part in public life of the country and its patriotic development. Understanding importance of formation and improvement of domestic digital economy, Mitroshin and Zotov acted as strategic investors. They will join the board, thereby, will make the contribution to development of Red Soft, - Maxim Anisimov told TAdviser.
»

The main owner - Vyacheslav Komlev

In February, 2019 the Neural Networks fund sold a share in 99.99994% in authorized capital of Red Soft LLC company to Vyacheslav Komlev – the president of Fund of protection of interests of the personality "Justice and an order". Information on such transaction contains in the message of Red Soft on the website of disclosure of information. In it it is specified that the nominal value of the share sold to Vyacheslav Komlev is about 176 million rubles.

There is practically no public information on Komlev's activity. In its biography on the website of the Ministry of Internal Affairs of the Moscow region it is told that it is the adviser to the chairman of the Moscow city department of VOOV "Fighting Brotherhood" for special projects and also has diplomas from the leaders of the state, the federal ministries, governors and the highest clergy of Russian Orthodox Church.

On a festive action the deputy Anatoly Vyborny handed to Vyacheslav Komlev (on a photo on the right) gratitude<i> (a photo - alldetectives.ru)</i>
On a festive action the deputy Anatoly Vyborny handed to Vyacheslav Komlev (on a photo on the right) gratitude (a photo - alldetectives.ru)

Komlev is included into Public council at the Ministry of Internal Affairs of Russia in the Moscow region where is a member of the commission on information policy and work with media and also the Working group on traffic safety. At the last meeting of public council where there was Komlev, in November, 2018 the question of inclusion in the structure of council of the actor Sergey Zhigunov was considered. The unanimous solution Zhigunov was included into council.

According to the USRLE, since February 15 Komlev is the owner of a share in 99.99994%, and the share less than 1% remained behind the company. In addition legal persons, Vyacheslav Komlev since February is registered as the only founder of Red Soft Center LLC where earlier as founders Neural networks and Boris Hachikov – the CEO of Neural networks acted.

Vyacheslav Komlev explained TAdviser that it initially was among the main owners of the company, and now there is a disclosure of a pool of participants who owned shares in the company through the closed investment share fund "UK Mfond" earlier - the main founder Neural networks.

Concerning the actual owners of the company nothing exchanged, he says. Just earlier there was a complex system of ownership, and now it will be the open company which plans an exit to the IPO, will be present at the stock market and which federal tasks face, Komlev says. Therefore it brings the list of participants to transparent level.

To the companies one of the strongest and oldest IT commands in the Russian market which remained fully from its basis, Komlev added. According to him, all architects – pervoosnovatel remained in the company, and later they will be openly displayed among co-owners in open bases too. Vyacheslav Komlev after opening of all co-owners will have controlling stake, he says.

«
We plan very big development. The company for this purpose has everything: own developments of OS, DBMS, application programs. We are ready to go to the market, - he noted in a conversation with TAdviser.
»

According to Contour-Focus base, Komlev also acts as the cofounder in political party "Renaissance Party of Russia" and NSU Logistic company which primary activity is connected with warehousing and storage. Also he is the only founder of Russian Spirit company in which list of types of activity management of financial and industrial groups is specified.

It is remarkable that the share in 10% in the main founder of Neural networks – UK Mfond companies, belongs to the person whose Full Names completely match the Full Name of the son of the former head of the Ministry of Internal Affairs Rasheed Rashidovich Nurgaliyev. "UK Mfond" owns about 88.9% of Neural networks.

Revenue of Red Soft in 2017, according to Contour-Focus base, made 115 million rubles, having reduced by 13% in relation to 2016. "Red Soft the Center" the same year earned 97 million rubles with 54 percent growth.

Data on financial results of both companies as of February, 2019 are not published yet, but it is possible to see, for example, that in 2018 Red Soft concluded government contracts with a total amount about 148 million rubles, and "Red Soft the Center" - for the amount about 66 million rubles.

The Federal Bailiff Service (FBS) with which the agreement on completion, implementation and maintenance of subsystems of automated information system of department of 132 million rubles was signed became the largest state customer of Red Soft in 2018. For "Red Soft the Center" the largest state customer in 2018 - Federal Service for the Oversight of Transport with which the service contract on development of an automated system of interdepartmental interaction of 19 million rubles was signed.

The average number of staff of Red Soft for 2017, according to Contour-Focus base, was 75 people, "Red Soft the Center" - 62 persons.

2018

Payment of income for the first coupon period

The Russian IT company "Red Soft" announced on August 14, 2018 completion of placement of 100 thousand exchange-traded bonds with a total cost of 100 million rubles.

Besides, the company fulfilled obligations for payment of a coupon yield for the first coupon period (start date of the coupon period — on May 14, 2018; end date — on August 13, 2018). The size of the accrued interest on one exchange-traded bond which was subject to payment for the first coupon period was 34 rubles 90 kopeks (14 annual interest rates). The general size of percent for the first coupon period which was subject to payment for exchange-traded bonds — 3,490,000 rubles.

Earlier Moscow Exchange registered the bonds program of the company on 200 million rubles. Circulation period of the papers placed within the program makes up to 3 years. Program validity period — 15 years. On May 14 public placement of the first bonded release within this program started: investors had an opportunity to purchase bonds of Red Soft with a coupon yield of 14% (the coupon is paid 4 times a year) and two-year-old for up to repayment.

Thus, the company managed to attract investments for development and development of the products (the operating system "Red OS", DBMS "Red Data Base", the designer ERP- systems "Red Platform of Document flow", the system of face recognition Gemba-stack).

Start of public placement of the first bonded release

At the end of March, 2018 the Moscow Exchange registered the bonds program of Red Soft for 200 million rubles. Circulation period of the papers placed within the program will make up to 3 years. Program validity period - 15 years. On May 14 public placement of the first bonded release within this program started: investors had an opportunity to purchase bonds of Red Soft with a coupon yield of 14% (the coupon is paid 4 times a year) and two-year-old for up to repayment. Such step is caused, first of all, by long-term plans of the company in the development areas and development of hi-tech import-independent and sanctions and steady products and also intention to increase credibility.

Red Soft is going to attract 200 million rubles through sale of bonds
Red Soft is going to attract 200 million rubles through sale of bonds

Distinctive feature of the company is that Red Soft at the same time acts as the developer of a complete technology stack of the system-wide software (the RED OS operating system, Red Baza Dannykh DBMS, the designer of ERP systems Red the Platform of Document flow), and the integrator performing large complex projects in storage area and data management on the basis of own software. Red Soft constantly improves the existing product line of both system, and applied software products (for example, systems for work about SIEI, the systems of office document flow, etc.). Besides, the company regularly starts new hi-tech products in development (for example, in 2017 the biometric system of face recognition GEMBA-stack is created).

«
Unique not only for Russia, but also in world practice the combination of a role of the developer of a complete technology stack of the software and the developed practice of creation of ready-made solutions on the basis of own general-system software, in the conditions of import substitution policy allows Red Soft to take in the domestic market the positions released by the western vendors (first of all Microsoft and Oracle). It is obvious that the possibility of fast promotion in combination with extensive work experience with large state projects, allows Red Soft to master effectively essential volumes of capital investments and to save at the same time profitability and reliability, says the company.
»

«
The policy of the state in the field of substitution of the foreign software Russian created the new market. However for high-quality breakthrough not to cost the domestic IT sector without external, including, exchange financing. Access to it, obviously, will open the new horizons for our company, - the CEO of Red Soft Maxim Anisimov commented.
»

Exchange-traded bonds are allowed on the Moscow Exchange

On May 7, 2018, according to the Listing rules PJSC Moscow Exchange made the decision to include in the section "Third level" of the List of the securities admitted to trading and to assign the identification number to the issue of exchange-traded bonds placed within the Exchange-traded bonds program, exchange-traded bonds of RED SOFT Limited liability company. The identification number of release – 4B02-01 - 00372-R-001P of 5/7/2018.

2017

Investments from Neural Networks fund

According to base " circuit.focus ", in February, 2017 the Neural Networks investment fund became the main founder of Red Soft LLC. It possesses 99, % of the company. Mfond owns a share in 1%. It and company UK "Mfond" - owners of Neural Networks.

Earlier Red Soft owned Kirill Veselkin and Rustam Rustamov. They remained founders "Red Soft Dubna" and "Red Soft the Center".

In February, 2017 Neural networks announced investments in the amount of 50 million rubles into Red Soft. Funds will be allocated for creation of "the competitive national operating system for public authorities"[3].

Red Soft is the developer GosLinux OS created within the government contract with FSSP
Red Soft is the developer GosLinux OS created within the government contract with FSSP
«
For us the project is rather wide, and we work on marketing policy on this project now and we understand what components which are made in Red Soft company will be most interesting, will go the first echelon and what will go with some delay. The Redsoft company has a successful experience of implementation (a comment – FSSP, the project in the Vladimir region). It is very important because can make a system really many, but bring it to implementation much more difficult. Implementation of the operating system in itself in a public sector is also the ability to communicate with customers, this ability is correct to set a functional task, this ability on a work progress to solve often small, but, nevertheless, vital tasks. And the Redsoft company successfully passed all this, it is very important for us, - the founder of Neural Networks fund Dmitry Zavalishin noted.
»

Red Soft is the developer GosLinux OS created within the government contract with FSSP. Department began to implement this OS in 2013 before the nation-wide course towards import substitution appeared.

In February, 2016 the FSSP submitted the application for inclusion of this OS in the register of domestic software, however experts had questions concerning as far as it can be considered as a Russian. As of February, 2017 a system is not included in the register.

In 2016 for the similar purposes of investment the BaseALT company created by natives of Alt Linux received. Its purpose is development of OS of industrial level which could replace Microsoft in the Russian public sector and corporations. The company received investments in the amount of 100 million rubles from IVK.

Notes