MOSCOW, Oct 9 (PRIME) -- Russian Internet company Yandex has agreed to acquire 100% of K50, a platform of automation of contextual advertising management, from venture fund AddVenture Capital and the management, a Yandex official told PRIME on Friday.
“The deal will enable K50 to scale up the business with Yandex’s technologies and infrastructure to develop the current and new tools to manage advertising. In its turn, Yandex will help advertisers to use digital channels with K50’s products effectively by stimulating expansion of the share of Internet advertisement on the market,” the official said.
Yandex did not disclose the amount or details of the deal.
The transaction will not impact tariffs or terms of the existing clients of K50. All K50’s employees will move to Yandex and will keep on developing their own products.
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