Yandex gets sold off by its business owner. The owner pulls out of Russia. The famous Russian search engine is getting pulled out. However, the Dutch business sold the whole search engine off. The price of the website is about $5.2 billion. Thus, it is much lower than the actual market value. The entire organization to the investor means the search engine is now a Russian entity.
The business has also been charged for storing illegal data of the Ukraine War. Most of the Russian public states that they know the truth. Moscow was happy with the price deal. The whole business took about 1.5 years of planning. “It is just what the ministers wanted to achieve a few years back.” Yandex is under threat of being overtaken. There are a lot of big technology businesses around.” Gorelkin states. Gorelkin is the committee head deputy. He has a lot of different data from the organization.
“Yandex is more than just a business. It is a great one. Moreover, it is also an asset.”
They created the entire search engine in the 1990s. Yandex started its first search engine, and it helps to advertise businesses. Other services will include taxis and food delivery.
The Site is Sold Below Market Value Because of Ukraine War
Thus, the $5.2 billion deal is also lower than the market value. It is worth at least $30 billion in 2021. Despite having a nickname for being the Russian Google engine, it has zero ties to Google. Moreover, it does not relate to Alphabet, its parent site. The big Dutch site will regain much control of different Russian businesses. There are also a lot of other operations and self-driving vehicles. Thus, the website also has foreign patents and various property licenses.
The whole price is a 50% discount from the law of asset sales. The law has an impact on Yandex because of the Ukraine law. Since February 2022, the Yandex group and the entire team faced many challenges. People believe there are many great solutions for their teams and shareholders. There are also users under extraordinary circumstances from the other Russian operations. Kremlin spokesman Peskov fully welcomed the news of this sale.
Yandex is a Technology
“Yandex is one of the businesses’ largest champions in high technology and is a big business.” Peskov tells reporters. “It is crucial for everyone that the business will continue to progress in the country.” The search engine is a very admirable business, in and out of Russia. It has a dominant search engine and has the latest innovations. There is a lot of effort to go into great online businesses like food delivery. Different Western institutional investors hold it.
Therefore, the whole announcement covers an entire 1.5-year period. It is a decision to make a large-scale invasion of the whole of Ukraine. Thus, after the invasion, Russian lawmakers passed different measures. The measures are related to the news and war information. In the following weeks, Yandex had many search results for Russians. The search engine was under pressure to get search results. People from Russia searched for information in different news outlets.
However, as Russia invaded Ukraine, a lot of international businesses left the country. They sold off their assets on bad, unfavourable terms.
