Yandex NV, often referred to as "Russia's Google," has finalised a deal worth 475 billion roubles ($5.21 billion) to sell its major businesses to a consortium of Russian investors, as reported by Reuters.

"Russia's Google" Yandex to exit in $5.2 billion deal, a historic corporate shift

Russia has acquired its "Google," Yandex, for $5.2 billion. This landmark deal marks the largest corporate exit from the country since the Ukraine invasion and also a strategic shift away from Western tech circles.

Russia's largest tech player shifts to full local ownership

The anticipated completion of Yandex's restructuring, a Nasdaq-listed Russian tech company is likely to be postponed until early 2024, Reuters reported. Often dubbed ‘Russia's Google’, Yandex has been in talks with the Kremlin for over a year to separate its Russian businesses from its Dutch parent company, Yandex NV.

Yandex's restructuring faces delay, expected to extend into 2024

SberAutoTech, a subsidiary of Russia's largest lender Sberbank, has developed a fully self-driving vehicle, FLIP, which the company on Thursday described as a "taxi of the future".

'Taxi of future': Russia's SberAutoTech unveils fully autonomous vehicle FLIP

Ukraine imposed sanctions on Yandex and other Russian Internet firms this month and blocked access to their websites to guard against cyber threats

Investigators search Ukrainian offices of Russia's Yandex

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