KitLocate Acquired For $15-20M

March 19, 2014 | Israeli geolocation startup KitLocate, which develops energy-saving GPS technology for smartphone apps, has been acquired by Russian company Yandex, the world’s largest non-English search engine. Yandex will set up its first Israeli offices, with KitLocate’s office serving as an R&D center for the Russian company. Though financial details were not disclosed, “Globes” reports and estimate of $15-20 million.