My.Video games to exit Russia, restructure enterprise

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My.Video games has introduced it’s pulling out of Russia, the promote it initially referred to as residence.

In an announcement issued by its Amsterdam headquarters, the writer mentioned all components of the enterprise which were producing income in Russia might be spun off into a brand new impartial entity. This entity may have no affiliation with My.Video games.

Licenses for all Russia-related merchandise might be transferred to impartial Russian agency Astrum Leisure, after which My.Video games will now not earn revenues from these titles in Russia.

The corporate may even stop any remaining operations in that market. It should proceed to develop and publish titles for console, PC and cell, specializing in key markets such because the US, Europe and Asia, with plans to additionally goal growing markets resembling MENA, Latam, India and Indonesia.

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My.Video games mentioned its exit will contain restructuring the enterprise, with the writer now centered “solely on worldwide enterprise improvement, in addition to enhancing infrastructure for its distributed workforce.”

Greater than 90% of My.Video games workers work remotely, and have completed so since 2020. The corporate is led by its Amsterdam headquarters, with workplaces in Cyprus, Spain, China, Finland and Korea.

My.Video games additionally has co-working areas in Turkey and Armenia, with plans to open extra throughout EMEA in 2023.

Again in October, My.Video games was acquired by Leta Capital’s managing associate Aleksander Chachava in a deal price $642 million.

My.Video games was initially launched in 2019 as a publishing label of Mail.ru, a number one Russian web and communications agency.

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