Russia’s Yandex acquires Israeli e-scooter company

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MOSCOW, Oct 12 (Businesshala) – Russian tech giant Yandex (YNDX.O) is expanding in Israel with the acquisition of electric scooter rental company Wind, adding to its taxi and food delivery services in the country.

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Yandex said on Tuesday it expects the deal to be finalized by the end of the year, but did not disclose financial terms.

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Yandex said the acquisition will include Wind’s e-scooter hardware, its R&D capabilities and operations in Israel.

Wind, which operates about 4,500 scooters in 13 cities in Israel, will be renamed Yango Wind. It will operate under the Yango brand, Yandex.Go, the international arm of Yandex’s taxi aggregator and food tech business.

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Yandex launched an electric scooter rental service in Moscow in July.

Yango launched its ride-hailing service in Israel in December 2018, followed by its 15-minute e-grocery service Yango Daily last year.

Reporting by Gleb Stolyarov; Written by Alexander Marrow; Editing by Bernadette Baum

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