History

SITRONICS Company was set up in December 2002 as Concern Scientific Center consisting of the Russian microelectronics enterprise JSC NIIME & Micron and the Czech manufacturer of telecommunications equipment and software STROM Telecom.

The next milestone in the development of JSC SITRONICS was in June 2004, whereby gaining the controlling stake of a Ukrainian company called Kvazar-Micro, the largest IT-company in Ukraine, and establishing a business line related to IT-services. In 2005 assets forming Concern Scientific Center as well as Kvazar-Micro and JSC SITRONICS producing consumer electronics under the brand Sitronics, were consolidated into JSC SITRONICS.

June 2005 saw the purchase of the majority holding in a Greek company called INTRACOM TELECOM making it possible for JSC SITRONICS to gain access to the markets of telecommunications services of Southern Europe, Middle East and Africa, which contributed to a substantial synergy of their product range as well as opening up the way to numerous designs in the field of R & D.

In February 2007, SITRONICS placed 17.5 % of its shares on the London Stock Exchange (LSE: SITR). The $356.4 mln raised has been spent on introducing new technologies and on the development of the Company.