Moscow, Russia, 17th September 2009 – Progress Software Corporation (NASDAQ: PRGS), a leading software provider that enables enterprises to be operationally responsive, has today announced a Capital Markets focused partnership deal for the provision of services with Luxoft, a Russia-based IT development firm.
The move follows Progress Apama’s recent expansion into Central Eastern Europe (CEE) and the Commonwealth of Independent States (CIS). Luxoft, which was recently voted #1 IT Outsourcing Service Provider in Eastern and Central Europe, hosts development centers in Moscow, Kiev and Bucharest and will now be provide services for Apama related projects to its capital markets customer base.
“With global competition heating up in recent years, demand for electronic trading has increased dramatically across the CEE capital market scene,” said Alexander Sirotin, Director of Sales, CIS and CEE Region of Progress Apama. In addition to this, the fallout out from the economic crisis has forced new approaches to risk management and surveillance. “Like ourselves, Luxoft has a strong heritage within capital markets and sees this as an exciting time to be involved in providing traders with the full suite of tools they will need to be competitive, while staying within regulatory boundaries.”
Yuri Elkin, Managing Director of Luxoft’s Financial Practice from said: “We have a strong culture of providing innovation and software engineering excellence for our broad range of financial services clients. Progress Apama have a similar approach and this partnership will allow us to build on our growing leadership in financial services sector”.
Progress Software Corporation
Progress Software Corporation (NASDAQ: PRGS) is a global software company that enables enterprises to be operationally responsive to changing conditions and customer interactions as they occur – to capitalize on new opportunities, drive greater efficiencies and reduce risk. The company offers a comprehensive portfolio of best-in-class infrastructure software spanning event-driven visibility and real-time response, open integration, data access and integration, and application development and deployment – all supporting on-premises and SaaS/Cloud deployments. Progress maximizes the benefits of operational responsiveness while minimizing IT complexity and total cost of ownership. Progress can be reached at www.progress.com or +1-781-280-40
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.
Luxoft is ranked the #1 IT Outsourcing Service Provider in Eastern and Central Europe, No. 2 in the “Top Ten Software Testing and Quality Assurance” category and No. 3 in the “Top Ten Telecommunication Industry” in the 2008 Black Book of Outsourcing published by the Brown-Wilson Group (Datamonitor company). The company was a finalist in the Outsourcing Excellence Awards, 2008, sponsored by Everest group and Forbes magazine.
Progress, and Apama are trademarks or registered trademarks of Progress Software Corporation or one of its affiliates or subsidiaries in the U.S. and other countries. Any other trademarks contained herein are the property of their respective owners.