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Uber combines with Russian ride-hailing service Yandex.Taxi

After a three-year run in Russia, Uber sees its future there with local tech giant Yandex.

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The future in Russia for Uber is a partnership with Russian company Yandex.

David Ramos / Getty Images

After launching in Moscow three years ago, Uber will combine its ride-hailing service there with a local counterpart known as Yandex.Taxi, Uber said in a blog post Thursday

Moscow-based tech giant Yandex and San Francisco-based Uber will form a new company that will also include the UberEats food-delivery service. The new company will cover Russia, Armenia, Azerbaijan, Belarus, Georgia and Kazakhstan.

Uber will make a $225 million cash investment in the new company.

"Combining our business with Yandex will give us a very significant stake in a new company which will initially serve more than 35 million trips each month and operate in an incredible 127 cities in six countries across the region," Pierre-Dimitri Gore-Coty, head of Uber's business in Europe, the Middle East and Africa, said in Uber's blog post.

In a Yandex.Taxi blog post, CEO Tigran Khudaverdyan said he will serve as CEO of the new company. 

Yandex and Uber did not immediately respond to a request for comment.