Yandex to Sell Part of Its Business

Yandex has agreed to sell a part of its business. More specifically, it has consented to a company division scheme. This has been reported by Russian media.

By July 31, the 'European' Yandex (Yandex N.V.) will change its name and cease using the previous company's trademarks.

The 'Russian' Yandex will continue to develop all familiar search, municipal, entertainment, and other services, as well as artificial intelligence technologies. For users and partners, nothing will change.

A consortium of private investors and corporate managers will acquire the Russian part of the company for 475 billion rubles. An important aspect for Armenian users remains that the deal will not affect the operation of services in this region or the company’s data protection policy, as stated in Yandex’s press release.

The company has assured that after the restructuring, Yandex will remain a private, independent, and public company.