Zug, Switzerland -- Thursday, August 3, 2017 -- Luxoft Holding, Inc. (NYSE:LXFT), a leading provider of software development services and innovative IT solutions to a global client base, today announced it has opened a new delivery center in Nizhny Novgorod, Russia and relocated to a larger office in Braunschweig, Germany.
The demand for Luxoft’s consulting and engineering services coupled with multi-industry subject matter expertise from both new and existing clients, is creating a need to open new locations and expand existing ones. The Company’s new location in Nizhny Novgorod can serve as a delivery center across all lines of business, however, initially supporting Technology and Financial Services.
“Mathematics, computer science, and engineering education tracks are of a very high standard within Nizhny Novgorod,” said Oleg Zolotykh, Managing Director of Luxoft’s Eastern European operations
. “The combination of Luxoft’s high-quality service delivery and access to software engineers with well-respected university credentials continues to be beneficial for our clients, and allows us to offer potential clients a ‘new experience’ across our all offerings.”
Additionally, Luxoft relocated to a new, larger office in Braunschweig that harbors one of its core verticals, automotive. This location was originally added to the Company’s global delivery model off the heels of the February 2016 acquisition of Braunschweig-based, Symtavision.
Now, as client interest in technical consulting coupled with research and development within the automotive industry continues to grow, Luxoft sought a much larger facility.
“Our global delivery footprint continues to expand driven by demands of our clients and growth of various lines of businesses,” said Luxoft’s Vice President for Global Delivery, Dmitry Kushnir.
“Increase of our presence in Russia is now echoing the growth of our operations in Poland, Romania, and other Central and Eastern European locations. Our historical ‘nearshore model’ continues to evolve into a much stronger, globally distributed model. It grows by means of strategic efforts outside of Central Eastern Europe, in Malaysia
and Vietnam within APAC, and Mexico within North America.”
Luxoft Holding, Inc (NYSE:LXFT) is a leading provider of software development services and innovative IT solutions to a global client base consisting primarily of large multinational corporations. Luxoft's software development services consist of core and mission critical custom software development and support, product engineering and testing, and technology consulting. Luxoft's solutions are based on its proprietary products and platforms which aim to impact clients' business outcomes and efficiently deliver continuous innovation. The Company develops its solutions and delivers its services from 35 dedicated delivery centers worldwide. It has over 12,700 employees across 40 cities and 19 countries in North America, Mexico, Western and Eastern Europe, Asia Pacific, and South Africa. Luxoft is incorporated in Tortola, British Virgin Islands, has its operating headquarters office in Zug, Switzerland and is listed on the New York Stock Exchange. For more information, please visit http://www.luxoft.com
This news release of Luxoft Holding, Inc (“Luxoft”) contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include information about possible or assumed future results of our business and financial condition, as well as the results of operations, liquidity, plans and objectives. In some cases, you can identify forward-looking statements by terminology such as “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “expect,” “predict,” “potential,” or the negative of these terms or other similar expressions. These statements are subject to, without limitation, the risk factors discussed under the heading “Risk Factors” in Luxoft’s Annual Report on Form 20-F for the year ended March 31, 2017 and other documents filed with or furnished to the Securities and Exchange Commission by Luxoft. Except as required by law, Luxoft undertakes no obligation to publicly update any forward-looking statements for any reason after the date of this news release whether as a result of new information, future events or otherwise.
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Luxoft Holding, Inc
Patrick R. Corcoran
Global Director, External Relations
212-964-9900, ext. 2453
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