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Yandex Teams Up With Rival

The country's most popular search engine Yandex said Thursday that it has entered into a partnership with domestic rival Rambler for search and advertising services.

Yandex, which raised $1.4 billion in a blockbuster initial public offering on NASDAQ in May, said the deal will see Rambler adopt its search engine and join Yandex's Ad Network, allowing advertisers on Yandex.Direct to broaden their target audience and attract new customers. The company did not disclose financial details of the deal.

(Reuters)

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