3 May 2017 07:00
Mail.Ru Group Acquires Am.ru
May 3rd. Mail.Ru Group Limited (MAIL.IL, hereinafter referred as "the company"), one of the largest internet business in Russia today announces the signing of the agreement to acquire Am.ru, one of the largest Russian auto classifieds websites, from Rambler&Co.
The deal is an all cash acquisition of $10m and is expected to be closed at the beginning of May.
Commenting on the acquisition Dmitry Grishin, Cofounder and Chairman of the Board of Mail.Ru Group, said:
"The auto classifieds segment is one of the largest digital markets displaying solid growth worldwide. The acquisition of Am.ru puts us in a favorable position to leverage our expertise and resources, get a good share of that market and bring Am.ru to even further success. Am.ru has substantial synergies with Youla, and we are planning on fully integrating the two projects."
Boris Dobrodeev, CEO (Russia) of Mail.Ru, said:
"The acquisition of Am.ru fits very well into our e-commerce 2.0 strategy. There are clear synergies with Youla; the addition of the strong team and functionality from Am.ru will allow us to continue expanding our significant presence in the classifieds market."
Rafael Abramyan, Executive Director of Rambler&Co, said:
"Selling Am.ru is an excellent example of Rambler&Co's investment strategy, the essence of which is to invest in a wide range of early stage startups so that at some point they become attractive as acquisition targets. We acquired Am.ru 1.5 years ago, invested in building a new team, actively marketed it both via and outside Rambler&Co's resources, thus creating an attractive auto classifieds platform. "
Oleg Golubtsov, Founder of Am.ru, said:
"We are happy to become part of Mail.Ru Group, one of the most successful Russian technology companies. It provides our project with a foothold to become the leading auto portal in one of the largest internet/auto markets in Europe."
Am.ru team including the founder will join Mail.Ru Group to develop auto classifieds business.
For further information please contact:
Investors
Matthew Hammond
Phone: +971 505 56 1315
E-mail: hammond@corp.mail.ru
Press
Nataliya Bogdanovich
Phone: +7 965 396 10 08
E-mail: n.bogdanovich@corp.mail.ru
About Mail.Ru Group
Mail.Ru Group, international brand My.com (MAIL.IL, listed since November 5, 2010), is the largest internet business in Russia, based on mobile daily audience (TNS Mobile Index, population aged 12-64 in the cities 700 000+, February 2017, Russia). Mail.Ru Group's sites reach approximately 90% of Russian Internet users on a monthly basis (comScore, December 2016).
In line with the 'communitainment' (communication plus entertainment) strategy, the Company is building an integrated communications and entertainment platform. The Company owns Russia's leading email service and one of Russia's largest internet portal, Mail.Ru. The Company operates two largest Russian language social networks, Vkontakte (VK) and Odnoklassniki (OK), and Russia's largest online games business, including such gaming titles as Warface, Armored Warfare, Skyforge and Perfect World. The Company also includes a leading OpenStreetMap-based offline mobile maps and navigation service MAPS.ME, popular instant messaging service ICQ, mobile location-based marketplace Youla and long-distance ridesharing service BeepCar.
The company owns 100% of mobile games developer Pixonic and 100% of Delivery Club, the number one food delivery company in Russia. Mail.Ru Group also holds an equity stake in a number of small venture capital investments in various Internet companies in Russia, Ukraine and Israel.
Mail.Ru Group is committed to facilitating the development of IT education in Russia. The company holds annual international contest for programmers Russian Code Cup, VK Cup, Technology Forums, and partners with university faculties. Mail.Ru Group has controlling interest in GeekBrains, the online learning platform for developers.
In November 2013, the company launched My.com in the US and later worldwide to provide communication and entertainment products and services for the global audience.
Mail.Ru Group Limited is a holding company for a number of subsidiaries, including Russian operating subsidiaries. Under the term Mail.Ru Group on this release we understand as the context requires Mail.Ru Group Limited, Mail.Ru Group Limited together with its subsidiaries or Mail.Ru Group Limited's respective subsidiary.