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Russian Internet firm Rambler Media Friday said it would sell 100% of online advertising company ZAO Begun to U.S. search giant Google Inc. for $140 million.
Begun offers contextual text-based advertising services and has more than 40,000 advertisers. Its partner network includes over 143,000 Russian-language sites.
"This agreement means more Russian users, advertisers and partners will get better search results and more relevant advertising," said Mohammad Gawdat, Google's managing director for emerging markets.
Revenue from search-related, text-based advertising on Russian-language Internet sites more than doubled in 2007 to $225 million, Rambler said.
The deal is expected to close in September.
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