Gazprombank Acquired Majority Stake in Speech Technology Center

Quadriga Capital sold its 35% stake in Speech Technology Center to Gazprombank. Gazprombank also acquired more shares of the company from the founders, making Gazprombank the largest shareholder of the company.

Speech Technology Center (speechpro.com)
Speech Technology Center is headquartered in St. Petersburg, Russia and has subsidiaries in Germany, United States and Mexico. The company was founded in 1990, and currently is a leader in voiced-based technologies. These technologies include voice recording, noise reductions, voice recognition and biometric authentications. The company has a R&D team of 150 specialists, 28 of which hold a PhD. In 2010 the company initiated the first country-wide voice based identification program for the country of Mexico. The success of this project has opened the doors to great expansion in the biometric field.

Quadriga Capital (www.quadriga-capital.ru)
Quadriga Capital has been active in Russia since 1995 and is the sister company to German investment firm of the same name. The company currently manages USD 196 million, and has invested in over 20 Russian based companies in the last 15 years. The firm generally invests in growth capital opportunities for Russian based companies.

Gazprombank (www.gazprombank.ru)
Gazprombank is the 3rd-largest bank in Russia, and the largest among those that are not state-owned.
Established in 1990 by Russian gas company Gazprom, the bank was originally intended only to serve the financial needs of natural gas industry. Since then however, Gazprombank has grown into a complete banking institution providing retail, commercial, and investment banking services to more than 3 million customers.
To date Gazprombank operates 43 Russian branches which include 500 banking locations, as well as 8 subsidiary banks in Russia, Armenia, Belarus and Switzerland.