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Mail.ru buys MAPS.ME

2014-11-14 09:14:00| Telecompaper Headlines

(Telecompaper) Russian internet company Mail.ru has acquired MAPS.ME, a maps and navigation service for mobile devices, Reuters reported. Although no financial details were disclosed, a source familiar with the deal said the transaction was worth more than USD 10 million. Mail.ru, majority-owned by Russian businessman Alisher Usmanov, said the deal will help it expand its global audience. Mail.ru chief executive Dmitry Grishin believes there is great potential in maps. MAPS.ME provides applications for mobile operating systems Android, iOS and BlackBerry. The apps offer detailed "crowdsourced" offline maps for mobile devices, based on open data with basic services provided free. The application has been installed more than 7 million times since its 2011 release, including in Russia, the US, Germany, Italy, and China, Mail.Ru said.

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