Sber and X5 are in talks over an enhanced partnership, which will encompass mutual projects in e-commerce, data architecture management, cloud technology and artificial intelligence development, and the creation of virtual assistants.

When it comes to e-commerce, X5 will primarily focus on the development of instant grocery delivery services, while Perekrestok Vprok, an online hypermarket, might join Sber's e-commerce business and evolve within its ecosystem. In particular, this includes the SberMegaMarket marketplace.

The parties are currently negotiating. The results of the talks will be announced further.

Lev Khasis, first deputy chairman of the executive board, Sberbank:

"Sber and X5 Group have millions of customers in common, and we see a significant level of potential synergy in our cooperation, which I am certain will be mutually beneficial for both our companies and our clients. We are currently discussing the details of further collaboration, which will be based, inter alia, on cutting-edge technological solutions by Sber, including in the fields of artificial intelligence, cloud computing, data analysis, and virtual assistants."

Igor Shekhterman, CEO, X5 Group:

"Working on ecosystem and digital products with Sber, Russia's technology leader, will strengthen our expertise in this area and allow us to offer unique products and services to our customers at a faster pace. X5's focus on developing express delivery will enable us to compete in the digital race with the help of advanced infrastructure, scale, the strength of our network brands, and favorable terms for suppliers."

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Sberbank of Russia published this content on 21 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 February 2022 15:40:01 UTC.