X5 Retail Group gets involved in e-commerce

Company acquired 31% of the company's "IT Business, managing online stores and Bolero.ru 003.ru. Proportion of X5 Retail Group has reached 82%. It is possible that before the end of 2014 the retailer will take advantage of right of first refusal to purchase the remaining 18% of the company's "IT Business, gaining full control of both the online stores. X5 Retail Group became the owner of "IT business in the fall of 2009, agreeing to establish a joint venture with the owners of internet-shops and Bolero.ru 003.ru. Partners X5 made in the joint venture all rights to the domain, hardware, software, call-center, customer databases and the right to lease storage capacity. The retailer received 51% of new businesses and the right to repurchase the remaining shares within 5 years. In the first quarter of 2010, the amount of net revenue, the company "IT Business was $ 4 million, the average bill has exceeded 3,7 thousand rubles, according to Retail.ru.