A subsidiary of software developer Abbyy’s Turkish licensee, Content AI LLC, became 99% owned by the Russian legal entity Content AI Technologies LLC. At the same time, the share of the owner of the Turkish company “Content AI Solutions bilishim ve teknologi hizmetleri anonym şirketi” fell from 100% to 1%, writes Vedomosti with reference to data from the Unified State Register of Legal Entities.
Author:
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A Content AI representative told the newspaper that the company’s employees own 100% of the Turkish legal entity, and Content AI Technologies LLC is owned by Content AI’s management.
Abbyy left the Russian market in April 2022. Now the company, founded in 1989 in Moscow by David Yan, positions itself as an international developer based in the USA. Subsequently, the businessman repeatedly spoke negatively about the political situation in Russia, writes Gazeta.ru.
In October, reports appeared on the Internet about mass layoffs of Russians and Belarusians relocated to Abbyy; The company then called this “entry into the path of business transformation and modernization.”
According to Rusprofile, Content AI LLC was founded in April 2022. The CEO of the company is Svetlana Dergacheva. In a comment to the publication, he stated that the creation of a company in Turkey was necessary to conclude a licensing agreement with Abbyy, according to which Content AI received the right to use the company’s technologies in its products.
“The change in ownership structure was planned from the beginning. Since the terms of the agreement between Content AI and Abbyy have been met, the company does not need to maintain a Turkish legal entity,” Dergacheva emphasized. He noted that the company’s goal now is a complete transition to Russian jurisdiction.
At the same time, the Turkish legal entity does not pay royalties to Abbyy for the use of the products, since in 2022 the licensing agreement provided for a one-time payment, the amount of which the company refused to disclose.
Several Content AI products are already included in the national software registry: among them is the platform for intelligent information processing Content Capture and the multifunctional PDF editor ContentReader PDF 15.
A company representative told Vedomosti that the company’s revenue doubled last year, from 382.5 million rubles to 765.5 million rubles. By the end of 2024, Content AI expects revenue growth to exceed 40%.
Author:
Mikhail Zelenin
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
