Companies|The search engine and technology company Yandex completed the sale of its Russian operations to a group of Russian investors. The parent company led by Arkadi Volož continues in Holland under the name Nebius Group.
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“Russian The sale of the Russian operations of Yandex, the search engine and technology company known as Google, was completed on Monday. On Tuesday, the Dutch parent company was launched under the new name Nebius Group.
The news agency reported about it Reuters.
The company is headquartered in Amsterdam, and its CEO is the former CEO of Yandex Arkady Volozh.
A group of Russian investors bought the company’s Russian operations with cash and shares. The value of the transaction is approximately EUR 4.95 billion.
The Nebius company develops artificial intelligence-based cloud platforms as its core business. Its goal is to be Europe’s leading provider of AI infrastructure and services for AI developers.
VOLOŽ founded Yandex in Russia in 1997. It became the country’s largest technology company and was listed on the US Nasdaq stock exchange in 2011.
Arkadi Volož, co-founder of Yandex and CEO of Nebius Grop.
Council of the EU removed Volozh in March of this year from the sanctions list, which he was on since June 2022. Yandex was accused of supporting Russian war propaganda.
As a result of the decision, Volož resigned as CEO of Yandex and left his board seat in the company in June 2022. Volož considered the EU’s decision “misleading”.
Volozh condemned Russia’s invasion of Ukraine last August just days after Russian media widely criticized Volozh’s efforts to distance himself from his homeland.
“Russia’s attack on Ukraine is a barbaric act, and I strongly oppose it,” Volož said in a published statement.
To the present It is run by Global DC, part of the Nebius Group computer hall in Mäntsälä. The enforcement agency seized the data center company’s assets due to Volož’s forced listing, but it is lifted the company’s sanctions after Volož was removed from the sanctions list.
The group has stated that it intends to keep the data center located in Finland under the ownership of the Dutch parent company after the sale.
The Yandex group also includes Yango, a taxi service operating in Finland. The company is managed by Ridetech, a company registered in the Netherlands. Ridetech was also sold together with the Russian operations to a Russian investor group.
Correction and addition 17.7. 1:16 p.m.: The story previously stated that Global DC is owned by the Yandex NV group. The name of the group today is Nebius Group. Information added to the case that the Ridetech company is one of the assets sold to Russia.
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