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before it can start offering its first financial products though. Step one, a Yandex executive told RBC, is obtaining a banking license.
Mail.Ru Group announced November 2, that it had sold its 100% stake in its mobile app and navigation service MAPS.ME to Daegu Limited (a part of Paity.com Group) for RUB 1.56bn. The company sees international travel (the area in which MAPS.ME operates) as a non-core part of its business. The company acquired the service in 2014 for RUB542mn. In 2019, MAPS.ME’s revenue was RUB159mn and its EBITDA loss was RUB25mn.
Russian internet major Mail.ru Group has launched cloud gaming service MY.GAMES Cloud in open beta, only in Russia at this stage. For now, the service only runs on Windows, with the launch on Mac OS, iOS, Android, Smart TV planned for 2021, as well as running the cloud gaming at VKontakte social network. As reported by bne IntelliNews, the company has been developing a solid position in video games and cybersports, which have become the main driver of its financial results. Most recently, the company reiterated its long-term target of doubling its gaming Ebitda by 2022 and reaching 20-25% Ebitda margin in the segment. Unconfirmed reports also suggested that Mail.ru could IPO its gaming division.
Russian multi-industry investment conglomerate AFK Sistema is buying 100% of NVision Group from Mobile TeleSystems (MTS) mobile major, the companies announced. NVision is an IT integrator servicing MTS and other companies. The deal is planned for RUB0.4bn ($5.03mn) in cash (up to RUB1.3bn total enterprise value). Sistema will then merge the acquired asset with is subsidiary Sitronics (specialises in developing IT platforms, including in the Internet of Things). BCS Global Markets commented on November 3 that NVision has better prospects for the asset within Sistema. "Though the deal looks like the reverse of one in 2015 and hence the smaller price tag may raise eyebrows, we note the narrower scope," BCS GM notes, but sees the news as neutral for MTS, with no likely impact on its Ebitda. MTS acquired NVision from Sistema back in 2015 for RUB11.2bn (deal announcement suggested up to RUB15bn EV). As reported by bne IntelliNews, MTS has adopted a new artificial intelligence strategy and will develop AI products and solutions together with VisionLabs and other assets of Sistema. Sistema is also a shareholder in MTS.
Russian mobile major M obile TeleSystems (MTS) will start investing in feature film production, though its subsidiary MTS Media ready to finance up to 50% for eight to ten confirmed features a year, Kommersant d aily reported on November 18. MTS would become the fourth fund after the state Ministry of Culture, the Cinema Fund, and KinoPrime fund of billionaire Roman Abramovich to make direct investments in feature film production. Previously MTS Media said it would set up a joint venture with the state-controlled First TV Channel, in order to enhance its own video content production.
Russian online recruiting platform HeadHunter has signed an agreement with Hearst Shkulev Digital Regional Network on acquisition of 100% of Zarplata.ru, a platform of job and personnel search, for RUB3.5bn, HeadHunter said on Tuesday in a statement. The Federal Antimonopoly
131 RUSSIA Country Report December 2020 www.intellinews.com
