IBS Group Member Solutions Recognized by Independent Research Firms

RAMSEY, the Isle of Man, February 24, 2014 /PRNewswire/ --

Luxoft Holding, Inc. (NYSE:LXFT), a member of the IBS Group and a leading provider of software development services and innovative IT solutions to a global client base, today announced that it has been recognized by the prominent independent technology research firms.

Gartner Inc., the world's leading IT research and advisory company, ranked Luxoft 8th in Eurasia on its list of the top 20 business service providers in the banking and securities industry, ranked by 2012 revenue by region.

The report entitled "Market Trends: Banking, Worldwide, 2014" by Vittorio D'Orazio and Rajesh Kandaswamy was published by Gartner on January 8, 2014.

In 2014, Luxoft was mentioned by Forrester Research, Inc. in three of their highly regarded reports, The Forrester Wave™. One - North American Applications Outsourcing Services, Q1 2014, in the section "Global competition intensified amidst new and consolidated suppliers" as an example of a new player in the market from "alternative geographies."   The other - EMEA Applications Outsourcing Services, Q1 2014 in the section "Offshore suppliers move beyond initial beachheads in an increasingly competitive market" noting our impact in the region.   And the third - The Forrester Wave™: Enterprise Business Intelligence Platforms, Q4 2013, where our advanced data visualization tool, Horizon, was listed as an alternative to the larger BI vendor tool sets.  

Since its establishment in 2005, Luxoft's financial services practice has grown to become a significant software co-development force in Eastern Europe, boasting over thousands of highly qualified employees and hundreds successfully implemented projects.  Over the years, global financial institutions continue selecting Luxoft as their partner of choice in creating and enabling innovative technology that financial institutions need to successfully compete in increasingly complex global markets.

Luxoft welcomes these recognitions, considering them to be a testament to its resilient business model and market-leading approach to engineering services and solutions, utilizing deep domain expertise.  "We are very glad to see our achievements recognized, and as we move further into 2014 we expect to chart new successes in further strengthening our market position," said Luxoft CEO and President Dmitry Loschinin. "We are confident that we will continue to expand our global recognition list, building out long-term partnerships with leading companies in the finance, automotive, telecom and other sectors."  

About IBS Group Holding Limited

IBS Group is a leading software development and IT services provider in Central and Eastern Europe. Through its two principal subsidiaries, Luxoft and IBS IT Services, it offers a wide variety of information technology services, such as software development and IT services outsourcing, IT infrastructure and business applications implementation. IBS Group has business operations in Russia, Ukraine, Romania, Poland, Germany, Switzerland, the UK, the USA, Vietnam and Singapore. IBS Group employs more than 8,500 people worldwide. In the year ended March 31, 2013, the Group reported US GAAP consolidated revenues of USD870.3 million. IBS Group's Global Depositary Receipts are listed on the Regulated Market (General Standard) at the Frankfurt Stock Exchange (Bloomberg: IBSG:GR; Reuters: IBSGq.F).

Disclaimer

The information contained in this press release is not for publication, distribution or release, directly or indirectly, in any jurisdiction where such publication, disclosure or release would be unlawful. This press release does not constitute an offer for the sale of securities in the United States of America, Canada, Australia, Japan or any other jurisdiction in which an offer would be subject to legal restrictions.

For more information about IBS Group please visit http://www.ibsgr.com

SOURCE IBS Group Holding Ltd