2nd Apr 2009 09:43
RAMBLER MEDIA SELLS MOBILE VALUE ADDED SERVICES BUSINESS AND SIGNS PARTNERSHIP WITH PLASTIC MEDIA
Rambler Media Ltd. ("Rambler" or the "Company"), which operates one of Russia's most popular internet brands, today announces the sale of its mobile value added services business SMX Communications Ltd. ("SMX Com") to one of Russia's leading mobile content provider Plastic Media. In addition to the sale, Plastic Media will operate and provide mobile value added services through a long term partnership with Rambler.
Founded in 2004, SMX Com provides value added services for mobile phone users, generating sales from in-house or third party developed SMS-based products and content such as ring tones, icons, screen savers and games. Revenues are generated from a share of the fixed fees paid by subscribers to their network provider for the download of SMX Com products. In 2008, SMX Com generated in excess of US$6.0 million revenue from mobile value added services.
The disposal reflects Rambler's strategy to focus on growing its core Russian language internet business, which generates the majority of the Company's total revenue. At the same time, by signing a long-term partnership with Plastic Media, Rambler will continue to benefit from mobile revenues that will be operated and generated through Plastic Media, therefore improving efficiencies in the development and sale of Rambler mobile content.
Nikita Serguienko, Rambler Media's Chief Financial Officer, commented: «By selling and outsourcing the development of mobile value added services to Plastic Media, Rambler is increasing the efficiency of its business by keeping most of the revenue from mobile services and decreasing its operational costs. In addition, Plastic Media's traffic exceeds SMX Com's traffic, which leads to lower commissions to mobile operators. For Rambler, this partnership is another step towards ensuring stable growth and profitability for the Company. Plastic Media is a reliable and creative company and we plan to launch new high-quality services through our new partnership».
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For further information, please visit www.ramblermedia.com or contact:
| Rambler Media | Shared Value Limited | |||
| Konstantin Vorontsov | Nicolas Duperrier | |||
| Marina Anisimova | Tel. +44 (0) 20 7321 5010 | |||
| Tel. +7 495 745 3619 | ||||
| ING Wholesale Banking | ||||
| Daniel Friedman | ||||
| Tel. +44 (0) 20 7767 1000 | ||||
ABOUT RAMBLER MEDIA
Rambler Media is an internet media and services group which operates or has interests in leading Russian language internet brands including the Russian internet homepage and search engine 'Rambler.ru', on-line newspaper 'Lenta.ru', product comparison website 'Price.ru', internet catalogue and navigation system 'Top 100', instant messaging service 'Rambler-ICQ', digital advertising agency 'Index20' and contextual advertising company 'Begun'. Rambler Media's shares are traded on AIM, the junior market of the London Stock Exchange under the symbol 'RMG'. For more information on Rambler Media, visit our corporate website at www.ramblermedia.com.
Copyright Business Wire 2009
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