RBC acquires 25% in iGlobe.ru
Moscow, September 27, 2010 â€” OJSC RBC-TV Moscow announces the completion of a deal with Braddy S.A., the owner of the web portal iGlobe.ru.
The deal saw RBCâ€™s acquisition of 25% of shares in one of the largest online hotel and flight booking services. RBC and Braddy S.A. first started talks on the deal in 2008, but negotiations were not completed until September 2010.
Currently, iGlobe.ru is one of the leading systems on the online travel market. For the past few years, the project has demonstrated annual threefold growth, both in terms of orders and turnover. The management of the two companies regards target audience outreach through advertising on RBCâ€™s resources, paired with high demand for online travel services in Russia, as a factor set to drive considerable expansion of iGlobe.ruâ€™s audience, as well as an increase in the resourceâ€™s profitability.
"By combining the efforts of RBC and Braddy S.A., we are aiming to significantly boost our market share, increase financial efficiency and ensure a high growth rate," said German Kaplun, RBCâ€™s General Director.
"With RBCâ€™s input in the project, we will be able to achieve the huge growth potential that the project has on the Russian online travel market," stated Vladimir Bredikhin, General Director of Braddy S.A.
About BRADDY S.A.
The Swiss-based BRADDY S.A. (iGlobe.ru) was founded in 2005. The iGlobe.ru website â€“ an online booking system for travel services (hotels, flights, car rentals, transfers, insurance, visas, etc.) and Russia's only Russified web portal with due regard to all peculiarities of the local market â€“ dates back to 2006.