Luxoft's financial performance and resulting placement on the Software 500 validates that we are the trusted software development partner for corporations that span multiple geographies and vertical markets.
New York, NY (PRWEB) October 03, 2011
Luxoft, a member of IBS Group and a leading global provider of advanced application and product development services, today announced its inclusion in Software Magazine’s Software 500 ranking of the world’s largest software and service providers, now in its 29th year. Luxoft was ranked 188th, with a FY2010 software revenue of $206.2 million.
“The 2011 Software 500 results show that revenue growth in the software and services industry was healthy, with total Software 500 revenue of $541.5 billion worldwide for 2010, representing approximately 10 percent growth from the previous year’s list,” says John P. Desmond, editor of Software Magazine and Softwaremag.com. “The Software 500 helps CIOs, senior IT managers, and IT staff research and create the short list of business partners. It is a quick reference of vendor viability. And the online version, to be posted soon at http://www.softwaremag.com, is searchable by category, making it what we call the online catalog to enterprise software.”
The Software 500 is a revenue-based ranking of the world’s largest software and services suppliers, targeting medium to large enterprises, their IT professionals, software developers, and business managers involved in software and services purchasing.
“With the demand for high-end software development services on the rise, we have invested heavily in ensuring that our engineers have the education levels and expertise required to help our organization remain competitive in the global marketplace,” said Dmitry Loschinin, president and CEO of Luxoft. “We pride ourselves on our ability to be innovative and remain attuned to the changing needs of our customers. Our financial performance and resulting placement on the Software 500 validates that we are the trusted software development partner for corporations that span multiple geographies and vertical markets.”
Some 27 percent of the 2011 Software 500 companies are privately held. More than 100 companies are on the list in 2011 for the first time, a reflection of the dynamic nature of the industry.
The ranking is based on total worldwide software and services revenue for 2010. This includes revenue from software licenses, maintenance and support, training, and software-related services and consulting. Suppliers are not ranked on their total corporate revenue, since many have other lines of business, such as hardware. The financial information was gathered by a survey prepared by King Content Co. and posted at http://www.softwaremag.com, as well as from public documents.
Luxoft, a member of the IBS Group, is an emerging global leader in application and product engineering outsourcing services for enterprise IT organizations and software vendors. Luxoft builds lasting partnerships with its clients, such as Boeing, IBM, Harman, Avaya, Alstom, Sabre and other global leaders, based on the culture of engineering excellence, innovation, and deep domain expertise. Luxoft offers global delivery capability through its network of state-of-the-art delivery centers in North America, Central & Eastern Europe, and Asia. Luxoft`s customers benefit from the right mix of technology skills, industry knowledge, best-of-breed processes and methodologies, and a choice of engagement models.
About IBS Group
IBS Group is a leading software development and IT services provider in 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, IT outsourcing, business and IT consulting, business applications implementation. IBS Group is headquartered in Russia and has business operations in Russia, Canada, Germany, Romania, Poland, Switzerland, the UK, Ukraine, the USA, Vietnam and Singapore. IBS Group employs more than 7,631 people worldwide. In 2010 financial year, IBS Group reported US GAAP revenues of US$656mm.
IBS Group’s Global Depositary Receipts are listed on the Regulated Market (General Standard) at the Frankfurt Stock Exchange (Bloomberg: IBSG:GR; Reuters: IBSGq.DE). IBS Group is majority-owned by management with portfolio investors holding 35% of the Group’s share capital. For more information on IBS Group, please visit http://www.ibsgr.com.
About Digital Software Magazine and Softwaremag.com
Digital Software Magazine, the Software Decision Journal, has been a brand name in the high-tech industry for more than 35 years. Softwaremag.com, its Web counterpart, is the online catalog to enterprise software and the home of the Software 500 ranking of the world’s largest software and services companies. Software Magazine and Softwaremag.com are owned and operated by King Content Co.
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