Investments in a joint venture created by Yandex, the Lanit group of companies, a manufacturer of computer equipment Gigabyte and VTB bank, will amount to around $14 million (over 1 billion rubles).

The plant will manufacture servers, storage systems, gateways and smart device components under the Openyard brand. The first devices are slated for release by the end of 2022.

The commissioning work will be carried out by Gigabyte's specialists, and Yandex developments and technologies will be used in the server design. The production will be located in the Ryazan region.

The agreement between the companies to establish a joint venture was announced in early June. Then it was reported that Yandex and Gigabyte would provide patents, technologies and their own development of server hardware, Lanit would provide the enterprise with distribution and service centers, while VTB Bank would serve as a financial investor.

Original (in Russian)