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ZAO Begun acquired by Google


2008-07-24

Rambler Media, the owner of one of the leading portals in Russia, and Google, has signed an agreement to acquire ZAO Begun, which offers web advertising services.
Rambler, already the owner of 51% of the shares in ZAO Begun, will buy the remaining 49.9% stake from Finama Bannatyne and then sell the whole stake to Google. Moreover, Google and Rambler have revealed a partnership within which Rambler would be using Google’s AdSense technology.
The value of this transaction is $140m (€89m). Google confirms that investments in Russia are part of its plan to consolidate the company’s operations in the fast developing Russian market.
ZAO Begun offers contextual advertising services, websites and advertising agencies, and serves over 143,000 Russian-language websites.


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