Russian Internet site Rambler Media has agreed to sell its advertising unit, ZAO Begun, to Google, and to use Google's technology for search and advertisements.
Rambler currently owns 50.1 percent of Begun, but will buy the remaining 49.9 percent from Bannatyne and then sell the entirety to Google for $140 million in cash, the company said Friday. Of that total, $69.9 million will go to Bannatyne, the company said. Rambler expects to end up with about $50 million from the deal, which it will use for investments and potential acquisitions.
The move marks an expansion of … Read more