Mail.ru Group Limited (LSE, MOEX: MAIL, hereinafter referred as “the Company”), one of the largest Internet companies in the Russian-speaking Internet market, announces the completion of the sale of 100% of MAPS.ME, a mobile maps and navigation service based on OpenStreetMap data, to Daegu Limited (member of Parity.com Group) for RUB 1,557million.
Mail.ru Group acquired MAPS.ME in 2014 for RUB 542 million. MAPS.ME app has surpassed 140 million installs and has 10 million monthly active users. In 2019, MAPS.ME revenue amounted to RUB 159 million with an EBITDA loss of RUB 25 million. Disposal is part of Mail.ru Group’s strategy to focus on development of core assets where international travel is perceived as non-core.
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