Bitrix CMS developer merged with 1C Software

Software developer 1C to announce March 3 the foundation of a joint company 1C-Bitrix which would further "develop, support and promote Bitrix Site Manager software, and release new co-branded products". According to some reports 1C has acquired Bitrix. Some experts say this alliance might work only in Russia as far as integration with 1C is of little interest to Bitrix's foreign clients. Analysts say the cost of Bitrix increase tenfold in 2006 and reached about $5 mln.