Our hearts and minds are with all those affected by Russia’s invasion of Ukraine. Our top priority in these challenging times is the safety of all our people. We are closely monitoring the situation in Ukraine and Russia, the response of international governments and any potential impact on our business. Our current business in Russia and Ukraine is limited, representing less than 2% of our Contribution ex-TAC.
In addition, we continue to work towards the closing of our acquisition of IPONWEB by the end of Q1 2022. This is an evolving situation, and we are closely monitoring the regulatory and sanctions landscape across all of the jurisdictions in which we operate and that are applicable to the proposed transaction. Closing of the transaction does not require any payments into or out of Russia. For IPONWEB, its commercial and revenue activities are primarily in Western Europe and the United States, with no revenue customers in Russia, while its R&D team is primarily based in Moscow with a smaller team based in Berlin.