Yandex NV entered into a deal to sell Yandex for 475 billion rubles to a consortium of investors

45
Yandex N.V., a public limited liability company located in the Netherlands. ( Yandex NV is the parent company of Yandex) entered into a deal to sell Yandex for 475 billion rubles to a consortium of investors and will cease to be the parent company. The company statement said that Yandex will remain a private, independent and public organization after the restructuring.

The Dutch company Yandex NV entered into a deal to sell the Yandex business for 475 billion rubles (taking into account a discount of at least 50% of the market value in accordance with the requirements of the subcommittee of the Government Commission for the Control of Foreign Investments) to a consortium of private investors (more details - Here ).

Yandex NV will cease to be the parent company of the group. Until July 31, 2024, it will change its name and stop using Yandex brands. 

The new parent company of Yandex will be the International Joint Stock Company (ICAO) YANDEX, a private and independent company whose shares will be traded on the Moscow Exchange.

Artyom Savinovsky will remain the CEO of Yandex.

Yandex will retain the businesses, services and assets of the Yandex NV group with the exception of foreign startups (Nebius, Toloka, Avride and TripleTen) and a data center in Finland.

Yandex will provide Yandex NV with limited rights to use part of its technologies until the end of 2024.

Yandex will continue to develop search, urban, entertainment and educational services, as well as cloud technologies, autonomous cars, artificial intelligence technologies and other promising areas.

Artificial intelligence technologies have been developing for decades, but only in the last few years have neural networks "smartened up" to a level that allows them to be used as assistants or even to replace human labor.

The winners of the Project of the Year 2023 competition are IT leaders from India, Malaysia, Turkey, Kazakhstan, Uzbekistan, Kyrgyzstan, Armenia, Iraq and Brazil. 

The beginning of the year was marked by a flurry of activity by various legislators to deal with artificial intelligence. The New York Times filed a lawsuit against OpenAI and Microsoft, and the UAE created an AI council to accelerate the adoption of AI systems in critical sectors of the economy.

What should a business solution be, so that it is chosen by young people, but at the same time not rejected by older professionals? Maybe beauty will save the peace in the team, because everyone wants to work in an application that looks beautiful? It is true, but User Interface (UI) is good when it is based on User Experience (UX). If harmony between UI and UX is achieved, the product will be both beautiful and user-friendly.

We use cookies for analytical purposes and to deliver you the best experience with our website. Continuing to the site, you agree to the Cookie Policy.