Yandex Travel agrees to acquire online hotel booking service for business trips

MOSCOW. July 4 (Interfax) - Yandex Travel, part of Yandex , has agreed to acquire the business of Academ-Online, a service that facilitates booking hotels online for business trips, the company said.

The acquisition will allow Yandex's traveltech service to launch a new business tourism area, expand its clientele, as well as solidify its position in the market, according to the company's statement.

The deal is expected to close in July this year, and the amount has not been specified. Over 100 Academ-Online employees and its director, Alexander Kurnosov, will join the Yandex team.

Digital Tourism Technologies LLC and AON.Ru LLC will be part of the transaction.

Meantime, the Academservice tour operator company, which currently owns the acquired Academ-Online, will not be part of the transaction and will continue to develop independently.