Yandex’s umbrella company, Netherlands-based “Yandex NV”, has decided to completely withdraw from Russia. A consortium, including Lukoil, agreed to pay $5.2 billion for Yandex.
There has been an important development regarding Yandex, which was once considered a rival of Google but subsequently lost its popularity. The umbrella company of Yandex services, based in the Netherlands Yandex NVdecided to withdraw completely from Russia. The reason for the decision, as you can guess, is the conflict between Russia and Ukraine. war.
According to the official statement made by Yandex NV, all of the company’s assets in Russia will be sold to a private consortium. $5.2 billion With the sale, Yandex’s presence in Russia will belong entirely to this consortium. In the statement made on the subject, it was stated that various difficulties have been encountered since February 2022 and the best solution has been reached specified.
Yandex NV will stop using the “Yandex” brand
Yandex NV made a radical decision during the 18-month agreement process. According to this decision, Yandex NV ceased using the Yandex brand. will leave. In other words, the naming rights of this brand will pass to the consortium, including the Russian oil giant Lukoil. This decision affects the future of the search engine. how will it affect We will see it all together.
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The decision taken satisfied the Russian government. Actually, this is not surprising, because Yandex, from now on only Russians have It will be a medium. Making a statement on the subject, government spokesman Dmitry Peskov said, “Yandex is a national technology champion. Of course, it is important for us that the company continues to operate in the country.” he said.
Source :
https://www.reuters.com/technology/yandex-nv-agrees-52-bln-sale-russian-assets-investor-consortium-2024-02-05/