M&A

Tinkoff scraps $5.5 billion deal with Yandex, shares plunge

October 20, 2020

The proposed megamerger between Russia’s leading technology company Yandex and fast-growing challenger bank Tinkoff has been scrapped. In an announcement to the London Stock Exchange — where Tinkoff’s holding company TCS is listed — the bank said negotiations between the two sides had been “terminated, effective immediately.” Yandex and Tinkoff previously announced they had reached an “agreement …

Tinkoff scraps $5.5 billion deal with Yandex, shares plunge Read More

Mail.Ru buying spree: New investments in gaming and edtech

October 8, 2021

This week several new investments by Mail.ru Group, the LSE-listed Russian Internet giant, were reported. In the field of online education: Lomigor, a Cypriot subsidiary of the LSE-listed Russian Internet giant, purchased a 45% stake in Preprep.ru LLC, the startup behind exam preparation platform Tetrika. The transaction, which took place in September, was just revealed …

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Yandex, MTS, etc.: Oleg Tinkov reportedly holding parallel talks to sell his online bank

October 15, 2020

The sale of Tinkoff Bank to Yandex is far from certain, Russian online publication The Bell wrote yesterday, just three weeks after the two companies announced an “agreement in principle” on a $5.5 billion merger. Oleg Tinkov, the owner of the online bank, is also considering other buyers — in particular mobile operator MTS, or …

Yandex, MTS, etc.: Oleg Tinkov reportedly holding parallel talks to sell his online bank Read More

Yandex acquires context ad platform K50

October 13, 2020

Yandex, the NASDAQ-listed Russian Internet giant, is acquiring K50. According to businesss daily Kommersant, this is a full acquisition and an exit for the company’s shareholders, which include the venture fund AddVenture Capital and the management. As a result of the deal, K50 will be able to scale up its business while Yandex advertisers will use …

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Sber vs. Yandex: The battle of Russia’s super platforms begins

October 11, 2020

Yandex and Sberbank’s fight to gain control of Russia’s finance and technology industries is being billed as the corporate showdown of the decade. “Sberbank versus Yandex: The battle of the super platforms has begun,” declared Russian business daily Vedomosti last week. Novaya Gazeta went further, dubbing it a “war of the ecosystems.” The clash — which has …

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From Moscow to Berlin, digital music startups attract top investors

September 28, 2020

As the global digital music market pursues solid growth, last week saw three deals involving companies from Russia or with Russian founders. Sberbank acquires Zvooq Just a day before touting its transformation into a tech “universe,” Sber announced the acquisition of Zvooq, one of the most established Russian music platforms. No details about the transaction were disclosed.  Founded in 2010 by UK …

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Yandex to buy Tinkoff: Deal parameters and implications

September 25, 2020

By Mikhail Terentiev, CFA, Head of Research; Oksana Mustiatsa, CFA, Analyst; and Andrey Mikhailov, Senior analyst We believe the proposed acquisition of Tinkoff (TCS) by Yandex (YNDX) is a win-win for both companies. From YNDX’s perspective, TCS’ valuation looks reasonable, and its takeover should create a vast scope for synergies, cross-selling and product bundling, solidifying the …

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After parting ways with Sberbank, Yandex plans to buy Russia’s leading online bank

September 24, 2020

Yandex, the NASDAQ-listed Russian Internet giant, has agreed in principle with TCS group – controlled by Russian billionaire Oleg Tinkov – the acquisition of its online banking and financial services company Tinkoff. “The parties have come to an agreement in principle on a transaction that would consist of cash and share consideration worth approximately $5.48 …

After parting ways with Sberbank, Yandex plans to buy Russia’s leading online bank Read More

My.Games invests in Russian-founded studio Hypemasters

September 22, 2020

My.Games Venture Capital (MGVC), an investment firm affiliated to Mail.ru Group, and Aii Corporation, a Finnish VC firm, have teamed up to invest in a US-headquartered mobile games studio called Hypemasters.   “Under the new partnership, MGVC will provide marketing, HR, operations, and financial support to Hypemasters to drive the development of current and future titles,” …

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The rise of Russia’s giant digital ecosystems

September 21, 2020

Over the past few years, large ecosystems emerged around Mail.ru Group, Sberbank and Yandex, with both competition and cooperation intensifying between them.   ICT.Moscow, a media initiative from the Moscow government, has analyzed the variety of services provided by the three companies and the underlying business logic. It has compiled industry news from November 2019 to August 2020, aiming …

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Mail.ru Group and Sberbank invest again in food delivery

November 12, 2020

Mail.ru Group and Sberbank are increasing their stake in food delivery service Local Kitchen (‘Kukhnya na rayone’) through their joint venture O2O. After the acquisition of a 30% share in May for nearly $3.9 million, O2O is to own 84.7% of the company after deal completion scheduled for Q4 2020. Some of Local Kitchen’ services are …

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Yandex and Uber form dedicated company for self-driving business

September 6, 2020

Yandex and Uber yesterday announced agreements to spin off their self-driving vehicle business from Yandex.Taxi, the taxi-hailing and food tech joint venture they formed three years ago. The spin-off, dubbed ‘Yandex Self Driving Group B.V.’ or ‘Yandex SDG,’ will be directly owned by Yandex and Uber.  The NASDAQ-listed Russian Internet giant will invest $150 million in the new company, on …

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