MOSCOW : Russian cybersecurity outfit Group-IB will split its domestic and international business into two separate companies in a bid to maintain a presence in both the Russian and overseas markets, the company said on Wednesday.
The move mirrors steps taken by dozens of international companies to exit or sell their Russian operations since the West hit Russia with unprecedented economic sanctions in response to Moscow sending tens of thousands of troops into Ukraine in February in what it calls a"special military operation."
The first stage of separation has been completed, and shareholders' assets will be divided between the two companies within six months, Group-IB said.
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