Netex and Golden Telecom will later launch Russian-language services in Ukraine and Kazakhstan.
Online customized advertising company Netex (Net Express) Ltd. (TASE:NTX) today inaugurated online search and advertising services with Russian operator Golden Telecom Inc. after Netex completed the adaptations and installation of its systems for the Russian market. The launch comes a year after Netex won the franchise from Golden Telecom.
Netex and Golden Telecom also plan to subsequently launch Russian-language services in Ukraine and Kazakhstan. Netex said that Russia was one of the fastest growing online advertising markets. The Russian Internet market grew by 800% in 2000-07, to more than 25 million users. The number of users is projected to double over the next two years, putting the Russian online advertising market into 13th place worldwide.
Netex CEO Aviv Refua said, "The launch of Netex services in the Russian online market is a milestone for the company and will immediately contribute toward increasing the company's share in the global online market, as well as boosting the company's revenue from activity in various markets around the world."
Published by Globes [online], Israel business news - www.globes-online.com - on February 8, 2009
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