Security News > 2022 > July > Security vendor splits – not quits – to address Russia's invasion of Ukraine

Singapore-based security vendor and services provider Group-IB has commenced a "Regional diversification" program that will see it not just continue to operate in Russia, but do so with a dedicated entity.

A new and independently managed entity will offer the company's services and wares in Russia.

"The two businesses' financial flows are totally separated from each other including their costs and revenues," Volkov wrote, adding "No revenues generated in any of Group-IB Global Private Ltd.'s subsidiaries are used to fund any activities in the Russia and CIS region."

Which is almost certainly code for "Russia's illegal invasion of Ukraine that has so outraged the world that plenty of tech vendors quit Russia in protest."

Group-IB was founded in Moscow and announced it would move from Russia to Singapore in 2018, when then-CEO Ilya Sachkov described the island nation as "a global financial center, most favorable for running a global business."

Group-IB's actions are unusual, as most vendors have made a clean break from Russia - ceasing operations and preventing sale of their products and services.

News URL

https://go.theregister.com/feed/www.theregister.com/2022/07/07/group_ib_splits_russian_operation/