Yandex plans to launch a cloud business in Germany next year, the company said ahead of its annual Yandex.Scale cloud conference in late September.
The NASDAQ-listed Russian digital major is making an initial investment of $30 million until the end of 2022. The money will be used to purchase equipment and rent data centers.
Yandex has already begun training and setting up a representative office in Germany. The infrastructure will be located in three German sites.
Launched in 2018, Yandex.Cloud remains a small business line for Yandex. Its revenue is expected to triple this year to some 3 billion rubles ($42 million at the current exchange rate). This would account to less than 1% of the group’s revenue, notes Reuters.
Sources: Reuters, ICT Moscow
