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NIBs
December 2020 www.intellinews.com I Page 20
The acquisition is part of KKCG's plans for international expansion. Sweden-based Seavus has 15 research and development centres in several countries, including Belarus, Bosnia & Herzegovina, North Macedonia, Moldova, Serbia, Switzerland and the US.
“With this acquisition, the Aricoma Group penetrates other markets in Europe and strengthens its position in the US,” news agency Makfax reported citing the company’s statement.
At the same time, Aricoma is strengthening its international position in the IT industry, with consolidated revenues of €300mn, Ebitda of over €23mn and more than 2,800 employees, it said. The value of the transaction was not disclosed.
"Seavus will be an important part of KKCG 's success story," Seavus Group's head Igor Lestar was cited as saying.
Facebook pays $53,000 fine for breaching Russian personal data storage law
Facebook has paid a RUB4mn ($53,000) fine, which was levied in February, for violating Russia’s personal data storage law. Proceedings against the company have been dropped, Russian state- run news agencies reported – without specifying whether or not Facebook now complies with the law, reports East-West Digital News (EWDN).
During the past few years the regulator Roskomnadzor requested Facebook and Twitter several times to report on their compliance with the law. The digital giants held an ambiguous position, sending both positive and negative signals on the matter.
A range of other international businesses – including Alibaba, AliExpress, Apple, and Google – have been more law-abiding, managing to transfer user data from foreign data centres to Russia.
According to a legislation applicable since September 2015, companies operating in Russia are required to store Russian users’ or clients’ personal data on servers physically located in the country. Numerous foreign and domestic players were concerned, including global players who tended to store their users’ data in borderless clouds (see white paper by EWDN and EY).
Under a new law imposing stiffer fines that President Vladimir Putin signed in December 2019, fines for repeat offences go up to RUB18mn (almost $290,000).
The authorities may even block access to their sites from Russia – as was the case with LinkedIn in 2016, following two court decisions.
Lithuania seeks to host EU cyber centre
Lithuania wants a new EU cyber-security centre to be headquartered in the Lithuanian capital Vilnius. Not just anywhere in the city, but in the Vilnius TV tower, a historic monument where Soviet forces killed 14 people on January 11, 1991, when Lithuania broke away from the then Soviet Union.
Once established, the European Cybersecurity Industrial, Technology, and Research Competence Centre (ECCC) will be tasked with helping EU capitals and institutions defend themselves and the single market against outside threats when it starts work in 2021.
Lithuania is bidding against Belgium, Germany, Luxembourg, Poland, Romania and Spain to host the centre.
Georgian telco Silknet launches depositary notes on Georgian Stock Exchange
The Georgian Stock Exchange (GSE) and subsidiary Georgian Central Securities Depository (GCSD) announced on November 30 that GCSD has launched debut Georgian Depositary