MOSCOW and AMSTERDAM, Netherlands, Sept. 10, 2014 (GLOBE NEWSWIRE) -- Yandex (Nasdaq:YNDX), one of the largest European internet companies and the leading search provider in Russia, announces the acquisition of ADFOX advertising technology platform.
ADFOX was created in 2005 and provides services for planning, managing and analysing advertising campaigns on the internet, and allows its clients to place banners, mobile ads, videos and other popular formats. ADFOX currently serves more than 750 clients, including major publishers, agencies and direct advertisers. Every day, ADFOX serves more than a billion ads.
The ADFOX team will be joining the Yandex advertising technologies group, and will work with Yandex's experts to further develop the ADFOX platform for large publishers.
"Yandex will continue to operate ADFOX platform under its current brand. The terms of service for existing clients will remain unchanged," said Dmitry Popov, head of the Yandex Advertising Network. "Over time, ADFOX publisher clients will gain new capabilities, including ad targeting based on Yandex's Crypta technology and revenue optimization through Yandex RTB and Yandex.Direct."
"Yandex has enormous expertise in ad targeting, analytics and monetization," said Nikita Pasynkov, COO of ADFOX. "We are excited to bring these new capabilities to our clients, thereby greatly increasing the efficiency of their advertising inventory."
The terms of the transaction were not disclosed.
Yandex (Nasdaq:YNDX) is one of the largest European internet companies, providing a wide variety of search and other online services. Yandex's mission is to help users solve their everyday problems by building people-centric products and services. Based on innovative technologies, the company provides the most relevant, locally tailored experience on all digital platforms and devices. Yandex operates Russia's most popular search engine and also serves Ukraine, Belarus, Kazakhstan and Turkey. More information on Yandex can be found at http://company.yandex.com.
This press release contains forward-looking statements that involve risks and uncertainties. These include statements regarding our future operations, including our offering of advertising solutions. Actual results may differ materially from the results predicted or implied by such statements. The potential risks and uncertainties that could cause actual results to differ from the results predicted or implied by such statements include, among others, difficulties in integrating acquired businesses and teams, competitive pressures, changes in advertising patterns, changes in user preferences, changes in the political, legal and/or regulatory environment, technological developments, and our need to expend capital to accommodate the growth of the business, as well as those risks and uncertainties included under the captions "Risk Factors" and "Operating and Financial Review and Prospects" in our Annual Report on Form 20-F for the year ended December 31, 2013, which is on file with the Securities and Exchange Commission and is available on our investor relations website at http://ir.yandex.com/sec.cfm and on the SEC website at www.sec.gov. All information in this release and in the attachments is as of the date hereof, and Yandex undertakes no duty to update this information unless required by law.
CONTACT: Yandex N.V. Investor Relations: Katya Zhukova Phone: +7 495 974-35-38 E-mail: askIR@yandex-team.ru Media Relations: Ochir Mandzhikov, Vladimir Isaev Phone: +7 495 739-70-00 E-mail: firstname.lastname@example.org