Yandex buys Russian road traffic monitoring agency Smilink
by Andrew Redfern @ 19th June 2008 9:52 am
Russian search engine Yandex will be closing the acquisition of Smilink, a Russian road traffic monitoring agency, in July this year. The financial terms of the acquisition are confidential and have been withheld from the public.
Pavel Goldin, who has been heading Smilink since 2005, will keep his position as CEO. The agency’s other staff will all keep their positions as well. After closing the deal, the agency is to become a subsidiary of Yandex LLC.
The Smilink project was launched in 2001 by the VessoLink group. Today, the agency has about 70 employees.
A representative of the Smilink said that “We believe that the integration will enable us to better do our work - to collect and display data on the road situation. ”
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