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Russian Software House Secures $200m From Baring Vostok Capital

Mike Butcher

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Mike Butcher is the European Editor for TechCrunch. A former grunge rock drummer, he became a long time journalist, and has since written for UK national newspapers and magazines including The Financial Times, The Guardian, The Times, The Daily Telegraph and The New Statesman. Mike is also a co-founder and shareholder of TechHub, a co-working space/service/community with several locations... → Learn More

Monday, October 3rd, 2011
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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.