Having acquired computer game publisher BUKA for $80 million last July, the largest Eastern European computer and video game publisher 1C Company obtained a 40% share of the Russian game publishing and distribution market valued at $400 million per year.
Today 1C Company announced it acquires Avalon Style Entertainment, a Russian game studio known for its 4×4 racing game series such as 4×4 Hummer and 4×4 UAZ to form 1C-Avalon. Prior to acquisition, 1C was Avalon‘s publishing and distribution partner.
1C Company specializes in distribution, publishing and development of business, entertainment and educational software. Founded in 1991 as an accounting software vendor, 1C has become the largest publisher and distributor of computer and video games in Eastern and Central Europe.
According to eMarketer, Russia is going to become the 2nd largest Internet population in Europe by the end of 2008. The Russian internet advertising market is expected to double to $0.7 billion in 2008.
In 2007, the financial company Finam invested in a leading Russian casual game developer Alawar Entertainment. In May 2008, Mangrove Capital Partners backed in-game advertising company EnterMedia.