Brief: VK Signs Binding Agreement With Yandex To Acquire Zen And News Services In Exchange To Delivery Club

VK

23/08/2022 08:31

Aug 23 (Reuters) - Russia's VK company  VKCOq.L  says:
    * IT SIGNED BINDING AGREEMENT WITH YANDEX TO ACQUIRE ZEN AND
NEWS
CONTENT PLATFORMS IN EXCHANGE FOR FOOD AND GROCERY DELIVERY
SERVICE DELIVERY CLUB
    * DEAL IS EXPECTED TO CLOSE BY END OF 2022, PENDING A SET OF
REGULATORY APPROVALS
    * IT WILL RECEIVE RIGHTS TO TECHNOLOGIES AND TRADEMARKS OF
ZEN AND
NEWS SERVICES FOLLOWING COMPLETION
    * FOLLOWING DEAL CLOSURE ZEN AND NEWS SERVICES WILL BE
AVAILABLE
ON DZEN.RU PORTAL, WHICH WILL ALSO FEATURE YANDEX SEARCH BAR AND
OTHER SERVICES
    * VK'S CEO KIRIENKO SAYS WE CONSIDER IT RIGHT TO GIVE ZEN
TEAM
OPPORTUNITY TO CONTINUE TO DEVELOP INDEPENDENTLY, ENABLING
SERVICE TO BRING NEW CONTENT AND EVOLVE EXISTING PRODUCTS FASTER
AND MORE EFFICIENTLY

Further company coverage:  VKCOq.L 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))