Google is to acquire Russian-based contextual ad firm ZAO Begun.

The company hopes that the buy will increase its advertising reach in the fast-growing Russian market. Google claims that the $140 million buy will allow its advertisers to reach a larger group of websites in the region and allow for better targeting of ads on Russian sites.

"The entire industry will benefit from this transaction as there is a high potential for synergies," declared Begun's general director Alexey Basov.

"It brings together Google's visionary technology and Begun's six years of successful experience in building advertising and dealer networks and direct sales in Russia."

The company said that it hopes to close the transaction by September of this year and begin allowing users to purchase ads within the Begun website network. The company hopes that the Begun buy is part of a larger move that will push its ad business into the region's emerging online market.

"Google is very committed to giving Russian users, advertisers and partners the best possible service and experience," said Mohammad Gawdat, Google's managing director for emerging markets.

"This agreement will result in better search results and more relevant advertising for our Russian users and publishers."