Earlier today, mobile software developer SPB Software announced on its website that it had been acquired by Russian search engine giant Yandex. TechCrunch reports that the price of the acquisition was a cool $38 million.
Yandex is Russia's largest internet company, operating the country's most popular and the world's seventh largest search engine. In contrast, SPB Software is a leading mobile software developer, that has, since 1999, been making applications for mobile phones that enable subscribers to do more with their handsets and network connections.
Amongst other forays into mobile development, SPB is known for their highly rated "next generation user interface" SPB Shell 3D, created for the Android platform.
Indeed, according to the press release SPB's new mobile UI engine was of particular interest to Yandex, as they plan on integrating SPB Shell 3d with Yandex's cloud services and technologies. This approach will boost "Yandex's opportunities to partner with the players in the mobile ecosystem" as well as providing users with easy access to the company's services.
Read on for the complete press release from SPB:
[Source: SPB via TechCrunch]
SPB Software Is Acquired by Yandex
Moscow, November 28th, 2011 – SPB Software, a leading mobile software developer is acquired by Yandex (NASDAQ: YNDX), the leading internet company in Russia.
With this acquisition Yandex starts offering a key component for various mobile platforms – a user interface configured to integrate the company's key services based on SPB best known technology – SPB Shell 3D. This move boosts Yandex's opportunities to partner with the players in the mobile ecosystem.
SPB Shell 3D, developed by SPB Software, will be enhanced to integrate Yandex's cloud services and technologies. In addition, users will have easy access to the company's services including its search capabilities featured on a wide variety of mobile devices.
"Mobile is a vital part of our growth strategy. The acquisition of SPB Software creates new market potential for us and a plethora of possibilities for innovative solutions for our partners", said Yandex's CEO Arkady Volozh. "SPB Shell 3D is an ideal foundation on which to build up our mobile opportunity."
"SPB Software is excited to join Yandex", said Sebastian-Justus Schmidt, CEO of SPB Software. "This allows us to unite efforts in developing and marketing new cutting-edge mobile solutions. SPB Software will continue its mission to produce innovative mobile products of the highest quality."