The Moscow-headquartered company provides IT security solutions to 400 million users and more than 200,000 corporate clients around the world, according to its website. On Thursday, it reported worldwide revenue of $721 million in 2023, on the back of an 11 percent growth in net sales bookings.
The ban comes into full effect Sept. 29, according to a statement from the Bureau of Industry and Security, a Commerce Department agency. Until then, Kaspersky will be allowed to continue providing some services in the United States, including certain updates, to give U.S. consumers and businesses time to find alternatives.
Individuals or businesses that continue to use the products will not face legal penalties, the department said, but assume “all the cybersecurity and associated risks of doing so.”
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