Yandex.Taxi and Uber announced the merger

Яндекс.Такси и Uber заявили об объединении

Will create a collaborative taxi service.

Yandex and Uber announced the decision to consolidate your services of a taxi. In a joint statement the companies said they plan to establish a joint venture NewCo, the cost of which is estimated at about $ 4 billion.

So, Yandex plans to invest in the combined company $ 100 million, Uber $ 225 million. The services of taxis will be United not only in Russia but also in Armenia, Azerbaijan, Georgia, Kazakhstan and Belarus.

The deal already approved by the boards of Directors of both companies, but it has not yet agreed with the regulatory authorities. The parties expect that it will be able to close in the fourth quarter of this year. After that 59.3% of the new company will get Yandex, 36.6% Of Uber, and the remaining 4.1% of the employees.

The company promised that after the completion of the transaction will combine their technological platform, but users and are available then both of their mobile apps – Yandex.Taxi and Uber through which you can order a taxi.

Earlier it was reported that Chinese Internet company Alibaba Group and Japanese company SoftBank will Finance rival Uber.

Source