Yandex Acquires Auto.Ru For $175M

Yandex NV (YNDX), Russia’s largest web search engine, agreed to buy car information and advertising site for about $175 million to expand into the classifieds business.
Yandex will complete the acquisition of in the third quarter, the Amsterdam-based company said today. features 400,000 classifieds for new and used cars and also auto parts, according to a regulatory statement.

Yandex has twice the market share of Google Inc. (GOOG) in Russia and is expanding beyond Internet searches. The company bought the Multiship online-delivery aggregator in January after spending $80 million in October to acquire KinoPoisk, a Russian version of the IMDb movie database.

The company’s shares fell as much as 2.2 percent in U.S. trading today and were 0.8 percent down at $33.47 a share at 9:44 a.m. New York time. While the deal size is significant, it won’t make a great contribution to Yandex’s financials in the short term, Renaissance Capital said today in a note.

“ is the leading vehicle classifieds website in Moscow and is in the top 3 across Russia,” Yandex said., backed by Naspers Ltd (NPN), claims to be Russia’s largest online classifieds site.

VTB Capital was Yandex’s financial adviser for the purchase, according to the statement.


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