Russian search company Yandex acquires ad agency

http://news.cnet.com/8301-17939_109-10072621-2.html

Russia's largest search site, Yandex, announced today that it acquired Mediaselling, an online display ad agency, for an undisclosed amount in an attempt to bolster its advertising initiatives and establish itself as Google and others try to create a foothold in the country.

Yandex, which recently postponed its plans for an IPO, will allow Mediaselling to continue to operate as an independent entity for a short while, but the advertising firm will eventually become a part of Yandex, according to Mediaselling CEO Lev Gleyzer.