Russian cybersecurity company Kaspersky Lab has announced plans to 'gradually wind down' its US operations and lay off its US-based employees following a Department of Commerce ban on selling its products in the United States. This decision marks the end of nearly two decades of the cyber security firm's operations in the US. The shutdown process is set to begin on 20 July 2024, according to the company's statement released on Monday.
“The company has carefully examined and evaluated the impact of the US legal requirements and made this sad and difficult decision as business opportunities in the country are no longer viable,” Kaspersky Lab said. It added that it would “continue investing in strategic markets and remain committed to serving its customers and partners and ensuring their protection.
The US government cited security risks posed by Russia's influence on Kaspersky as the primary reason for the ban. Last month, US commerce secretary Gina Raimondo announced the prohibition on selling the company's anti-virus software in the country.
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