SAP to wind down, exit operations in Russia as war wages on
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SAP SE (NYSE:SAP) said on Tuesday that it would exit Russia and shut down its cloud services in the country, while adding that it would not renew contracts with Russian companies after expiration.
As part of the additional steps taken on Tuesday, SAP (SAP) said that it gave non-sanctioned companies in Russia the choice to have their data deleted from the cloud operations, sent back to them or sent to a data center outside of Russia. For those companies that choose to have their data sent to another data center, SAP (SAP) said it would not renew their contracts after they expire.
SAP (SAP) shares were fractionally higher to $104.27 in early trading on Tuesday.
The enterprise software company also said it would exit the support and maintenance of its on-premise products in the country, though it is still figuring out the best way to do so.
"It is also important to note that regardless of any SAP decision, existing customers in Russia using on-premise software will still be able to use their products," SAP said in a statement.
A number of other tech companies have either pulled out of Russia entirely or suspended operations, including Apple (AAPL), IBM (IBM) and Microsoft (MSFT).
In January, SAP (SAP) said it would acquire a majority stake of Taulia, a provider of working capital management solutions.