Digital Sky Completes Purchase Of Odnoklassniki.ru And Exits Nasza-Klasa.pl

TECH CRUNCH - Aug 31 - Internet investment group Digital Sky Technologies (DST) today formally announced the acquisition of Russian social network Odnoklassniki.ru. DST has bought out the minority shareholders in Forticom Group Limited – which it now fully owns – and Odnoklassniki, and interestingly transferred its interest in the Polish social network Nasza-Klasa.pl to the previous minority shareholders of Forticom as part of the deal. Russian newspaper Vedomosti pegged the deal size at between $14 to $28M. Founded in March 2006, Odnoklassniki.ru is said to gave generated revenues of $4M in 2009 from display advertising, paid services, contextual links and social games, with a net income of $11M in 2009. The social networking site claims 45M registered accounts, attracting 10M visitors on a daily basis. FULLL ARTICLE @ TECH CRUNCH