Palantir To Migrate UK Data Processing From The US

Defense and national security specialized data analytics firm Palantir Technologies Inc PLTR looks to migrate its U.K. data processing operation from the U.S., Financial Times reports.
Palantir will offer U.K. clients the option of moving all data processing within the U.K. by 2022.
Palantir aims to better protect them from hacks and data leaks from security concerns. It will offer the same option in the E.U.
Palantir’s move comes amid rising geopolitical tensions between China, Russia, and the west alongside new regulatory regimes pushing companies to Balkanise their data operations.
New laws governing cross-border data would affect all businesses that use the internet to operate.
Palantir processes sensitive health and national security data for U.K. public authorities.
Palantir plans to hire 250 new U.K. employees and open a northern England office in 2022.
Palantir responded to a significant push from customers who want to contain data processing within the borders where they operate.
Price Action: PLTR shares traded lower by 1.69% at $18.03 in the premarket session on the last check Friday.