Russia's Avito acquires AdRiver, Soloway advertising services

MOSCOW. Dec 18 (Interfax) - Avito has acquired 100% of the shares in the Internest group of companies (Internest-Holding LLC), which includes the AdRiver online advertising verification and management system and the Soloway advertising platform, the company said.

Unified State Registry of Legal Entities (USRLE) data indicate that the buyers were two Avito legal entities, namely KEH Ekommerts LLC, which received 99.9% in the new company, and Avito Holding LLC. The deal was registered on December 17.

Avito said that the deal would be closed by the end of 2024. Internest senior managers will continue working at the company. AdRiver, which verifies the quality of online advertising, will remain independent.

AdRiver is a service to assess the quality of advertising traffic. The system also allows website owners to manage flexibly the placement of banners on proprietary online resources and to receive remuneration for their impressions.

The Soloway platform first appeared on the Russian market in 2005. The system allows a user quickly to launch video and banner ads on websites, in mobile applications, and on Smart TV. The largest advertisers and advertising agencies are the clients of AdRiver and Soloway.

"Acquiring AdRiver and Soloway is in line with Avito AdTech's long-term strategy to develop advertising technologies. Seamless integration of the acquired companies' tools into Avito's classifieds should allow us to launch our own advertising network in the near future," Artyom Kumpel, Senior Managing Director at Avito Advertising and Avito Services, said in the statement.

Internest-Holding LLC was registered in 2007 and has authorized charter capital totaling 210,000 rubles. The holding generated sales revenue of 31.7 million rubles and net profit of 151 million rubles in 2023.