American Business Association of Russian Professionals

Google is buying Russian contextual advertising company ZAO Begun for $140 million from UK-registered Rambler Media (many Russian firms now base themselves in the UK). Rambler owns 50.1 percent of Begun, so to secure the deal it is buying the remaining 49.9 percent stake from owner Bannatyne Limited and then selling the entire firm to Google. Rambler says it expects to net about $50 million from the deal which will finance its investments and potential acquisitions.

Almaz Capital Russia Fund I, L.P. to Support Tech and Communications Start-Ups

When: Monday, June 23, 6:00PM

Where: Connection Room at Silicon Valley Community Foundation in

San Mateo, Ste 100, 1700 South El Camino Real, San Mateo, CA 94402 US

Cost: $15

By special arrangement with the directors and producers, SFERA would like to invite you to meet the film director Helga Landauer during the special screening of the documentary "A Journey of Dmitry Shostakovich".

The registration for ICF08 is open. We encourage you to register for the fair and post your resume. Online registration is recommended to secure onsite interviews and avoid lines, however walk-in registration will be available on both days of the fair.

Another day, another Google acquisition rumor, and this one comes from within the borders of the former Union of Soviet Socialist Republics. According to local press reports , Google may have acquired Ukrainian Portal Bigmir)net for $100 million.

  By Charles Cooper

Israel and Russia. Besides a common liking for borscht, you'd be hard pressed to find two nations less similar. Yet some very serious people believe Russia is destined to duplicate the Jewish state's astounding success in high technology.

Truth be told, I never considered the connection anything more than accidental, owing to the large number of Russian immigrants who have settled in Israel since the state's founding in 1948. But I've been hearing this theory advanced by a number of venture capitalists and entrepreneurs who say it's only a question of time before Russia undergoes an entrepreneurial boom.

To read more:  http://www.news.com/Is-Russias-tech-future-in-Israels-tech-past/2010-11398_3-6218872.htm

RUSSIA MAY BE AN OIL-RICH COUNTRY FULL OF SCIENTISTS AND TECHNOLOGISTS, BUT IT STRUGGLES There was a time not too long ago when the United States worried about Russia's spies getting ahold of Silicon Valley's tech secrets. Now, the Kremlin is eyeing an even greater prize: the valley's business model for success.

Like every other part of the world, the Russians want partnerships with valley tech companies and venture capitalists. They offered up their version of a road show during a two-day conference in Mountain View last week, making a pitch for investment in the oil-rich country that's also full of smart scientists and technologists.

To read more : http://www.mercurynews.com/business/ci_7448773?source=email

'3TS-Cisco Growth Fund III' to Support Technology and Communications Start-Ups

SAN JOSE, Calif., November 12, 2007 - Cisco® today announced a venture capital initiative targeting the technology industry in Central and Eastern Europe ¹ . Cisco will pursue investment opportunities in technology-related start-ups in the region, both directly as well as indirectly through a regional venture fund.

In collaboration with 3TS Capital Partners, Cisco is making the anchor investment in the Technology in Central and Eastern Europe S.C.A. SICAR fund (to be informally called '3TS-Cisco Growth Fund III'), which will initially close at 30 million euros. 3TS Capital Partners, one of the leading private equity and venture capital firms in Central and Eastern Europe, will seek and manage the fund's investments. The target companies for the fund primarily include high-growth small and medium-sized companies in the technology, media, and telecommunications sectors.

To read more: press here.

"Global Competition Launched Using Collaborative Technologies to Accelerate Innovation." To read the press release press here.