Google Buys Online Ad Business in Russia

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Google Buys Online Ad Business in Russia

Google, whose business has been lagging on the Russian Internet, stepped up its business there with the $140 million purchase of a Cyrillic online advertising business on Friday.

The deal also included a cooperation agreement with Rambler, one of Russia’s top search engines, to use Google’s ad placement technology on its site.

Google’s managing director for emerging markets, Mohammad Gawat, said the deal showed his company’s commitment to fast-growing advertising markets like Russia.

Anna Lepetukhhina, an Internet analyst at Troika Dialog, a Moscow brokerage firm, said Internet ad revenue was growing 30 to 40 percent a year in Russia.

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