New York & Moscow, Feb. 27th, 2009 – Luxoft, a global provider of high-end application and product development services, has been awarded the #1 position in the “Emerging European Markets” category of the 2009 “Global Services 100” list. In addition, Luxoft was named #3 in the “Outsourced Product Development” category. This is company’s fifth consecutive year on the list of world’s most innovative technology service companies.

Conducted by Global Services magazine and consulting firm neoIT, Global Services 100 study honors global companies that demonstrate leadership, innovation and outstanding performance in information technology outsourcing (ITO). Service provider evaluation criteria include company’s size, customer relations, technical and vertical expertise, HR practices, and others. Over the course of its existence, the Global Services 100 program has become a reliable snapshot of the outsourcing industry landscape, providing invaluable information to ITO and BPO buyer community on leading service providers in each area.

“Being recognized as a leader in our geography as well as in product outsourcing business domain is a true testament to Luxoft’s continual maturation and our laser focus on developing vertical expertise,” said Dmitry Loschinin, President and CEO of Luxoft. “We look forward to serving the global services industry for many years to come while continuing to pursue dynamic growth and global expansion.”

For Luxoft, the past year has been a year of significant milestones. The company was the first Eastern European software service provider to go global by opening a delivery center in Ho Chi Minh City, Vietnam. Luxoft’s global footprint was further strengthened later in the year when it acquired ITC Networks, a leading Romanian IT player with strong telecom expertise.

In 2008 Luxoft’s business domain excellence was underscored by inclusion in American Banker’s and Financial Insights’ “FinTech 100” list, which identifies top global vertical technology vendors serving the financial services industry. Company also received the National outsourcing Association’s Telecommunications Outsourcing Project of the Year for its groundbreaking work with its product development client, Aepona.

About Global Services
Global Services, a media platform by CyberMedia, facilitates the global service delivery for customers and service providers of IT and business-process outsourcing services, and provides cost-effective marketing solutions to the service providers in this industry. A multishore team spanning the U.S.A. and India drives the Global Services brand. The Global Services brand is an integrated media platform that includes the website and global seminars.

About CyberMedia
CyberMedia, now in its 26th year, is South Asia's first and largest specialty media house, with fifteen publications (including Dataquest, DQ Channels and DQ Week, PCQuest, Voice&Data, Global Services and DARE) in the infotech, telecom, consumer electronics, biotech and entrepreneurship areas, and is a media value chain including Internet (, events and television. The group's media services include market research (IDC India), job board (CyberMedia Dice), content management, multimedia, and media education.

CyberMedia also publishes BioSpectrum Asia from Singapore and Global Services from the U.S.A., the first Indian magazine titles to be published from outside the country for a global audience.

About Luxoft
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, Deutsche Bank, UBS, Dell, IBM, 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.

Luxoft is the recipient of the 2007 Frost & Sullivan Global Outsourcing Growth Excellence & Customer Value Leadership Award, as well as the Applied Innovation Award from the IAOP and Wipro, ITAA and Forbes (together with Deutsche Bank).