20 Apr 2023 13:54

Ilya Sachkov withdraws from Group-IB international business, maintains stake in Russian legal entity with changed brand

MOSCOW. April 20 (Interfax) - Ilya Sachkov, the founder of Group-IB, has sold his stake in the international company Group-IB Global Private Ltd. while retaining a stake in the Russian legal entity, which will continue operating under a new brand, F.A.C.C.T. (Fight Against Cybercrime Technologies), Group-IB said in a statement.

These processes are being implemented as part of the diversification of the Group-IB business, launched in the summer of 2022.

Group-IB co-founder and CEO Dmitry Volkov has also sold his share in the company controlling Russian Group-IB assets to general director Valery Baulin.

The company in question is Adaptive Security Technologies LLC established in June 2022. According to the SPARK-Interfax system, as of today six legal entities comprising Group-IB's Russian business have been transferred to the company: Group-IB CI LLC, Group-IB LLC, Group-IB Sales LLC, Group-IB TDS LLC, Neural Network Analytical Systems LLC, and Trust LLC.

As of June 2022, Dmitry Volkov owned 25% of Adaptive Security Technologies. Another 37.5% was controlled by Ilya Sachkov, while Kirill Androsov's Altera Capital owns 25%, and Tatyana Polishchuk's Cyberinvest LLC owns 12.5%. The company is headed by Valery Baulin, who was previously regional director of Group-IB.

At the time when Adaptive Security Technologies was established, Group-IB reported that the legal entity was created as part of the process of separating Russian assets from the group's international business, which will take about six months; the business in Russia and the CIS will be developed independently.

"During the final stage of the separation of assets, Dmitry Volkov, co-founder and CEO of Group-IB, sold his stake to Valery Baulin, CEO of F.A.C.C.T., and ceased being a shareholder. Group-IB founder Ilya Sachkov remains the primary shareholder of the Russian legal entity under the new F.A.C.C.T. brand," the company said in the statement.

In turn, Sachkov sold his 37.5% stake in Singapore-based Group-IB Global Private Ltd. to its top managers.

The value of the transactions was not disclosed.

Group-IB Global Private Ltd. has been operating since 2019 and is the group's headquarters through which it manages businesses in the Asia-Pacific Region, the Middle East and Europe. The shareholding structure of the Singapore-based company has not been disclosed.

In 2016, it was reported that 10% each of Group-IB was acquired by the Run Capital fund created by Qiwi co-founder Andrey Romanenko and Kirill Androsov's Altera Capital. Group-IB management, including Sachkov and Volkov, retained the remaining 80% of the company.