Yandex returns to plans to acquire eLama tech platform, hopes to close deal this summer

MOSCOW. Feb 7 (Interfax) - Yandex has returned to its plans to acquire the technology platform of online advertising management service eLama.

The company's statement says that the transaction is scheduled to close in the summer of 2024, once it receives the necessary approvals.

Yandex initially announced the deal in January 2022. "Due to a combination of market factors, certain technical and legal improvements were required, which allowed us to maintain the main essence of the transaction and the ability to close it in mid-2024," the company's press service told Interfax about the postponement.

As a result of the transaction, the technology platform and service team will go over to Yandex. The platform will continue to cooperate with its existing partners just as before, the press service said.

eLama (ADV-Service LLC) is a service that allows the user to set up, launch and analyze campaigns in Yandex.Direct, Google Ads, Facebook, VKontakte and other systems.