Yandex bought Boxberry Business

Yandex (MoEx: YDEX), trying to catch up with direct competitors in the online trade market-Wildberries and Ozon, seeks to expand the geography of the presence and number of orders of ordering. The IT-Holding decided to do this by buying a Boxberry delivery service and all its infrastructure. Experts estimate the amount of the transaction at about 1.5 billion rubles. For owners of Boxberry, the business has become unprofitable due to loss of market share against the background of increasing competition from larger industry companies.

Yandex officially reported on April 16 to purchase a Boxberry business. Yandex Delivery structures will receive 100% at Boxberry Soft LLC (operating company of the delivery service) and LLC Smart Logistic (it is also managed by orders of issuing orders). Owners of Boxberry Soft – Vladimir Teplyukov (45%), Veronika Tagunova (30%) and Konstantin Astafyev (25%). The founder of Smart Logistic is also Vladimir Teplyukov.

The IT holding said that the process of the Boxberry integration into Yandex Delivery will end until the end of 2025. As specified in the company, the Boxberry team will continue to develop logistics services as part of Yandex. Boxberry only informed Kommersant that after the transaction with Yandex, the service will continue to work with the franchisee according to the previous schemes, the conditions of cooperation are not changing.

The Boxberry absorption transaction will allow Yandex to increase the client base and expand the geography of presence, the company said. The issues of issuing Yandex orders and the Yandex Deliva service will appear in even more than 20 regions in different parts of the country, including in Siberia and the Far East.

Yandex papers reacted positively to the news about the purchase of Boxberry IT-Holding. April 16, almost from the opening of trading on the Moscow Exchange, the company’s shares grew up in price. As of 13:50 Moscow time, the cost of one share reached 4.26 rubles, which is 1.8% higher than the closing values ​​of the trading day on April 15. By 15:15, the quotes were fixed at the mark of 4.24 thousand rubles.

The parties do not disclose the value of the transaction. According to Infoline analysts, this amount could amount to 1.2–1.5 billion rubles. In the event that the bulk of the Boxberry issuance points will continue to work under the Yandex Market brand. ATOMIC Capital estimate – 1–1.5 billion rubles.

Buying a Boxberry business, according to the analyst Freedom Finance Global Natalia Milchakova, will provide Yandex with a competitive advantage over Ozon and Wildberries.

In the E-Commerce segment, about 80% divide Wildberries and Ozon each other, says Atomic Capital, general director of Atomic Capital. He adds that the only player that makes them serious competition is Yandex Market with a share of about 10% of the market.

Boxberry owners could decide to sell a business due to worsening the financial results of their companies in 2023–2024 due to the growth of competition from key players in the delivery market, Tatyana Pushkova, director of the Consulting Company of Neo, does not exclude the practitioner of evaluating the business and assets of the consulting company. For the last three years, Boxberry revenue has stagnated and a rapid drop in profitability has been observed, Alexander Zaitsev confirms. The actual value of Boxberry is the client base of the service, although in 2024 its share in the delivery segment by order of third-party companies and organizations began to contract, summarize in Infoline analytics.

Daria Andrianova, Vitaliy Gaidaev