You may not have heard of 1C.ru, but this leading Russian software company publishes 1C:Enterprise, the most popular ERP software for small and medium-sized businesses in Russia. With such a lock on a large market, that means 1C reported sales turnover of more than $600 million in 2010. And the sales are expected to increase by 20% in 2011. So it’s not entirely unsurprising that the company has now received $200 million in return for a 9% stake from private equity firm Baring Vostok Capital Partners (BVCP) reports newspaper Vedomosti.
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