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Surprising news about Russia’s Google Yandex: It plans to leave its homeland! Putin held a meeting at night

Surprising news about Russia’s Google Yandex: It plans to leave its homeland!  Putin held a meeting at night
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A surprising news about Yandex, one of Russia’s leading technology companies, fell like a bomb on the agenda. According to that news, Yandex is planning to leave its home country, Russia. Yandex, Russia’s Google, is said to have taken steps to move some of its intellectual property outside of Russia and divest the rest. According to sources, Russian President Vladimir Putin talked to the former finance minister late at night about the future of Yandex.

Yandex is referred to as the Google of Russia. Starting its adventure as a search engine company, Yandex then moved on to software for advertising, maps, e-commerce, cloud and driverless cars. Yandex also has a service such as Yandex Taxi, which serves many people. However, a news about Yandex, one of Russia’s leading technology companies, surprised everyone. Accordingly, Yandex plans to leave its homeland, Russia.

ANNOUNCEMENT IS PUBLISHED

FILE PHOTO: The logo of Russian internet group Yandex is pictured at the company's headquarter in Moscow

WHAT HAPPENS IF THE COMPANY CHOOSE THIS ROAD?

If the board chooses this path, the company will leave some of its overseas operations to Yandex NV, the rest will pass to other owners, possibly Yandex management in Russia.

Yandex NV explained that strategic restructuring is in the early stages and any further action will be subject to shareholder approval.

According to Reuters, which shared the information given by three sources on the subject in its news on November 25, Russian President Vladimir Putin and former finance minister Alexei Kudrin discussed Yandex’s future late at night.

According to the announcement, a special committee of the board is working on scenarios with different details, including “Development of international departments of certain services (including autonomous driving technologies, cloud computing, data labeling and education technology) independently from Russia.”
was commissioned.

Yandex NV has announced that it is considering divesting shares of Yandex Group and transferring its management control, and that some of its international divisions will be developed outside of Russia.

Yandex NV, the Netherlands-based parent company of the Yandex group, released a statement on Friday, explaining that its board of directors “has initiated strategic actions to consider options to restructure the company’s shareholding and management, given the current geopolitical environment.”

FILE PHOTO: The logo of Russian internet group Yandex is pictured at the company's headquarter in Moscow

Yandex announced that it is taking steps to move some of its intellectual property outside of Russia and divest the remainder, The Register reports. Looking for a more advantageous area for its headquarters like its counterparts in Silicon Valley, Yandex chose the Netherlands. The Netherlands has been home to the Yandex NV holding company for over a decade.

PUTIN MEETING LATE WITH FORMER MINISTER KUDRIN

“CURRENT GEOPOLITICAL ENVIRONMENT”

Yandex NV has announced that it is considering divesting shares of Yandex Group and transferring its management control, and that some of its international divisions will be developed outside of Russia.

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