Luxoft Reports Revenue Growth, Customer Wins in Light of the Global Recession

Moscow, New York, December 22, 2010 – Luxoft, a leading global provider of advanced application and product development services, today announced strong revenue and customer growth to date in 2010. Due in part to Luxoft’s global expansion, ability to address evolving customer needs and outsourcing expertise, the company experienced over 30 percent growth compared to mid-year results of last year despite the challenging global economic climate.

To complement current delivery centers in North America, Central and Eastern Europe and South-east Asia, Luxoft further expanded its global reach during the last several months. In August 2010, the company opened a UK Development Center, specializing in product services for telecom companies, and in October 2010, opened the Poland Development Center, which specializes in application and product development solutions for the automotive, travel and financial services industries. The new regional sites are positioned for significant growth and further drive Luxoft’s culture of innovation, engineering excellence and flexibility to help customers achieve better business results through a variety of outsourcing efforts.

During the last several months, Luxoft has also experienced significant customer growth, particularly for companies with needs in the financial services, telecom and automotive industries. The company added 11 strategic accounts to its client roster in 2010. New Luxoft customers include TRUMPF, Bank of America Merrill Lynch, Samsung and others.

Luxoft has also participated in several key industry events, further promoting its deep technological and business domain expertise. These events include Metering Europe 2010, 10th Annual Detroit Telematics Conference and the 4th European ZigBee Developers Conference. In addition, Luxoft was named to the 2010 Global Services 100 list, which honors top outsourcing vendors, while president and CEO, Dmitry Loschinin was the proud recipient of the Russian Business Leader of the Year 2010 Award at the Global Russia Business Meeting and an inductee to the Outsourcing Hall of Fame, a prestigious award that recognizes individuals for their contributions to the society through outsourcing.

“Despite challenges of succeeding during the global recession, Luxoft’s strong financial performance would have not been possible without the expertise and delivery capabilities of our highly skilled engineers. New customer wins in particular during the past several months indicate the growing demand for innovative, affordable, and comprehensive outsourcing options as a sound business strategy,” said Dmitry Loschinin, president & CEO, Luxoft. “The ability to get the most ROI from outsourcing efforts can be difficult for many organizations. It’s clear that companies recognize Luxoft’s superior global delivery approach in helping to streamline initiatives, foster innovation, and improve bottom line results.”

About Luxoft


Luxoft 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, Areva, 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.