Sberbank and Cognitive Technologies have signed a legally binding document to create a new company, Cognitive Pilot, they said in a statement.
Sberbank will have a 30% share in the company, while Cognitive Technologies will take 70%. The two companies did not disclose financial details of the deal, which will be completed in December.
The move marks the latest foray into Russia’s digital economy for state-owned Sberbank, which finalised the terms of a food delivery joint venture with Mail.Ru (MAILRq.L) earlier this month and agreed to buy an equity stake in the internet company.