Benzinga | Oct 12, 2021 04:06PM EDT

Yandex Acquires Israel Based Electric Scooter Rental Company For Undisclosed Sum

* Yandex NV (NASDAQ:YNDX) acquired electric scooter rental company Wind, adding to its taxi and food delivery services, Reuters reports.

* The acquisition will include Wind's e-scooters hardware, its R&D capabilities, and operations in Israel.

* The financial terms of the transaction remain undisclosed.

* Wind, which operates around 4,500 scooters across 13 cities in Israel, will be renamed Yango Wind. It will operate under the Yango brand, the international arm of Yandex.Go, Yandex's taxi aggregator and food-tech business.

* Yandex expects to finalize the deal by 2021 end.

* Yandex held $2.95 billion in cash and equivalents as of June 30.

* Price Action: YNDX shares closed lower by 0.77% at $77.30 on Tuesday.