American microprocessor and electronics developer Intel has sold its largest office in Russia. The deal, which closed in January, included a building and land in the Nizhny Novgorod region.
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As a source told TASS, the company began looking for a buyer for this asset a long time ago. The corporation completed the transaction in January of this year. The buyer is not indicated in the document and the agency interlocutor does not name him either.
Intel’s Research and Development office in Nizhny Novgorod was the center of research and development in the Russian Federation. There were labs and a division to create cross-platform software and artificial intelligence solutions.
At the end of last year, Intel’s Russian division, which unites two legal entities, had only two employees. Previously, the corporation had 1.2 thousand employees in Russia. The company suspended its activities in the Russian Federation in April 2022 due to the outbreak of hostilities in Ukraine.
As noted by the head of the Nizhny Novgorod region, Gleb Nikitin, in the same year, Intel was going to transfer 500 employees from the local office to Germany.
At the end of 2023, two Russian legal entities of Intel recorded a net loss of 192 million rubles and 21 million rubles. A year earlier, total losses amounted to more than 3 billion rubles.
Author:
Natalia Gormaleva
Source: RB
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