Mobile

Russian Internet Titan Yandex pays $38M for mobile developer SPB Software

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Russia’s Internet search giant Yandex has acquired mobile developer SPB software for an estimated $38 million, according to multiple sources. SPB has 75 employees and develops software for smartphones and tablet devices, with offices in Russia, Thailand and Taiwan.

“Mobile is a vital part of our growth strategy,” said Yandex Chief Executive Arkady Volozh in a Wall Street Journal report. “The acquisition of SPB Software creates new market potential for us and a plethora of possibilities for innovative solutions for our partners.”

Yandex offers Internet search in multiple languages, including English, German and French and dominates the Russian search landscape, with more than 62 percent market share in that country.

TechCrunch is reporting that Yandex was particularly interested in the SPB UI engine, and the  company’s Shell 3D product, which could power Yandex’s cloud services. We recently profiled Yandex as one of the 30 hottest Web companies not located in the U.S.

SPB Software is based in Saint-Petersburg, Russia. It claims its SPB Mobile Shell product is “the world’s single most popular paid mobile application”.