SAP postponed leaving Russia due to the lack of a buyer for the business

The German business software maker SAP will miss the deadline for exiting the Russian market (before the end of the year), as it has not found buyers for its divisions in Russia, reports Reuters citing five sources. German software manufacturer declared about the complete cessation of work in Russia in early March.

Even though SAP has closed its data centers and cloud business in the country, the company still has annual maintenance contracts in Russia that it must maintain, Reuters reported. According to Russian law, employees who manage the local division of SAP – SAP CIS, are personally liable for any violation of the contract, the agency notes.

“SAP is fully committed to winding down business in Russia as soon as possible. However, recent legal changes in Russia have limited the possibilities regarding the final steps of our departure, ”said a SAP representative. According to him, the company will significantly reduce the number of employees in Russia – from 1250 to less than 100 by the end of the year.

In July, SAP CFO Luka Muchic said that the company would complete its exit from the Russian Federation before the end of the year and incur losses in the amount of €350 million. In August, the TAdviser edition reportedthat the top management of SAP CIS is considering the possibility of buying out Russian assets of SAP.