Yandex, better known as the Google of Russia, has been sold to local investors. The Netherlands-headquartered search and services giant recently sold its Russian operations for $5.2 billion, according to a Bloomberg report. News Engadget.
As mentioned in the report, the sale was completed through cash and shares.
Among the new owners of Yandex in Russia are Management Group, Russia’s largest energy company Lukoil and Russian businessman and former Gazprom executive Alexander Rezanov.
Yandex’s severing of ties with Russia will now allow the company to work on its own growth and partnerships. Yandex was among the sanctions imposed after the war with Ukraine.