Luxoft Ranks Among Top 100 Global Technology and Service Providers to the Financial Services Industry

New York, NY; November 17, 2008 – Luxoft, a high-end application outsourcing provider, today announced the company’s inclusion in the FinTech 100. Sponsored annually by American Banker magazine and Financial Insights, an IDC company, FinTech 100 ranks the top global vertical technology vendors that derive more than one third of their revenue from the financial services industry.

FinTech 100 companies include hardware and software manufacturers as well as technology service providers. American Banker and Financial Insights rank applicants based on calendar year-end revenues and percentage of revenues exclusively attributed to financial services. The surveys vendors complete are coupled with original research and market analysis in order to tabulate the final ranking.

Over the past year, Luxoft has seen a 40 percent rise in revenues and expanded their global presence by opening a delivery center in Ho Chi Min City, Vietnam. Luxoft also recently acquired ITC Networks, a leading Romanian software outsourcing provider specializing in the telecommunications industry. These activities have solidified Luxoft’s importance to the growth and development of the outsourcing industry.

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).