Russian shareholders and top managers have successfully bought out the assets of cybersecurity company Group-IB in Russia. The new owners aim to retain contracts with Russian clients, as well as products and technologies developed in Russia. Under the new brand F.A.S.T. (Fight Against Cybercrime Technologies), the company will focus on the domestic market and the CIS, while Group-IB will exclusively represent the international market. The asset separation was carried out as part of the business diversification strategy that the company began in July 2022. Valery Baulin, who previously served as regional director in Group-IB, will manage the new company.
During the final stages of the asset separation, Co-founder and CEO of Group-IB Dmitry Volkov sold his shares to Valery Baulin, who is now General Director of F.A.S.T, and left the shareholders. Although, the founder of Group-IB Ilya Sachkov, remains as the main shareholder of the Russian legal entity under the new brand F.A.S.T. The transaction amount has not been disclosed.
The move aims to strengthen the company’s presence in the domestic market while also allowing the International cybersecurity firm to focus on international clients. The new brand aims to provide comprehensive cybersecurity solutions to Russian and CIS clients developed by local experts with a deep understanding of the local threat landscape. The transition is expected to be completed by the end of 2023.
This development is expected to strengthen the position of cybersecurity solutions within the domestic market and support the growth of a new brand that focuses on this niche. With its reputation for providing top-quality cybersecurity services globally, Group-IB has set high expectations for the new venture.