Agreement on bases in Syria to serve strengthening of stability in Middle East — MPRussian Politics & Diplomacy January 20, 21:18
Trump's inaugural address: When America is united, America is totally unstoppableWorld January 20, 20:57
Hermitage chief: New Palmyra destruction comes across as militants' vengeanceRussian Politics & Diplomacy January 20, 20:29
Russia's first deputy PM wants to keep current tax system for next political cycleBusiness & Economy January 20, 19:53
Russia’s Shipulin clinches gold in 20km individual race of IBU World Cup stage in ItalySport January 20, 19:18
Prominent Russian adventurer Konyukhov to take samples from Mariana Trench floorSociety & Culture January 20, 19:15
Gazprom CEO says North Stream-2 pipeline proves relevanceBusiness & Economy January 20, 19:10
More survivors found in avalanche-hit Italian hotel — mediaWorld January 20, 18:48
Donald Trump takes office as 45th US PresidentWorld January 20, 18:21
MOSCOW, August 11. /ITAR-TASS/. Russian smartphone manufacturer Yota Devices is planning to relocate its headquarters from Moscow to Toronto or Waterloo in Canada by the end of this year, the company's CEO told The Financial Post.
Yota Devices, the company behind the YotaPhone, an Android device with a regular LCD screen in the front and a touch-sensitive e-ink panel in the back, is aiming to take advantage of the talent pool in Canada left behind by BlackBerry Ltd in the wake of its restructuring, CEO Vlad Martynov was quoted as saying.
The company, according to The Financial Post, already has more than 15 former BlackBerry employees on its staff out of a total of 150 worldwide. About 70% of its employees today, including several Yota Devices’ executives, are working outside Russia in offices of various sizes spread across Frankfurt, Oulu, and Singapore, along with three sales staff in Toronto.
The decision to relocate its headquarters to Canada was motivated in large part by lower costs, tax benefits and government support, on top of the potential recruitment opportunity, Martynov said.
Yota Devices plans to raise $100 million in capital within the next year, with the help of Toronto-based investment bank Jacob Securities, and potentially list the company on the Toronto Stock Exchange by 2015.