YEREVAN, JULY 13, ARMENPRESS. Yandex.Taxi, the online app for ordering a cab, which is owned by Tigran Khudaverdyan, a businessman of Armenian origin, signed an agreement with Uber on uniting the online travel businesses in the territories of Russia, Armenia, Belarus, Azerbaijan, Georgia and Kazakhstan. According to Interfax, the business volume is worth 3,7 billion dollars.

According to the deal, Uber and Yandex will invest 225 million and 100 million dollars respectively in a new company. Yandex will assume the management of the new business (59,3%), while 36,6% will be owned by Uber, and the remaining 4,1% will be owned by the staff of the two companies.

The new company will be led by Tigran Khudaverdyan, the CEO of Yandex.Taxi.

Yandex said the agreement won’t change anything for the users, everything will be available on the two apps as before.

The drivers will be united in one single platform, which will enable to take orders from both Uber and Yandex.