Tuesday, April 10, 2012

Russia's Largest Software Developer Plans 2014 IPO

Russian largest business software and video game developer 1C plans to undertake an IPO by 2014.
In October last year 1C received $200 million in return for a 9% stake from the Baring Vostok Capital Fund, which holds a major stake in the Russian search engine Yandex. 1C was founded in 1991 by Boris Nuraliev in Moscow, and is best known outside of Russia for developing the famous IL-2 Sturmovik line of flight simulators that includes Forgotten Battles and Pacific Fighters. In the domestic Russian market, 1C is best known for its business software, including its software suite 1C: Enterprise, and for its educational software suite 1C: Tutor.

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