Yandex Acquires KitLocate
AMSTERDAM -- Yandex (NASDAQ: YNDX) has purchased Israeli startup KitLocate, the developer of an energy-efficient geolocation technology for mobile devices. The KitLocate team has now fully joined the staff of Yandex.
KitLocate’s technology can be applied in mobile applications for which data on a user’s movements are essential, in order to offer services at the right location and at the right time. It is based on statistical analysis and allows location-based apps to less frequently request the device's geographic coordinates via GPS or GLONASS – a battery-consuming process.
KitLocate is already well known in a number of markets and is used in applications to find parking spaces, for example, and in the payment services such as IsraCard. Yandex will distribute the technology on the international market and also use KitLocate to improve its own services, including in the personalisation of mobile search and targeted advertising.