Fastest Growing Member of IBS Group, LUXOFT is Lauded by Customers, Partners, and Institutions for its Best-of-Breed Practices
Nov 05, 2003
MOSCOW, 5 November 2003 - LUXOFT, a leading Russian software development service provider, is recognized by its customers, partners, and the Software Engineering Institute (SEI) at Carnegie Melon University as a world-class services company offering best-of-breed practices. This month LUXOFT set two records: it became the first company in the world to achieve both a CMM and CMMI Level 5 status at the same time as well as the first European company with a CMMI Level 5. In addition to this award, the company's success is based on a strong management team, mature service offerings and advanced technologies. Long-term relationships with Fortune 500 Clients prove that LUXOFT's expertise and level of quality meet world-class standards.
Level 5 of the SEI's CMMI and CMM quality standards is the highest possible rating for the IT industry's best management and engineering practices. Such a rating ensures that LUXOFT brings the best value to its customers by providing better requirement specifications, more powerful design evaluation, enhanced quantitative project management and defect prevention techniques.
Founded with 84 employees in 1999 and the support of the IBS Group, LUXOFT showed the dynamics of growth and by year 2002 employed 350 specialists. By the end of 2003, LUXOFT will employ more than 550 employees throughout the company. LUXOFT employs the best industry talent from the world's leading high-tech companies, such as IBM, Microsoft, Cisco Systems, Digital, CA, etc.
LUXOFT invests in Research & Development (R&D) to offer more value to customers and brings together cutting-edge scientific know-how with an industrial approach to software manufacturing. This combination melded with robust methodology gives LUXOFT the capability to provide its customers with added value and guarantees that the most complex problems will be solved. LUXOFT's investment in R&D serves as the foundation for innovative software products and solutions.
LUXOFT has established long-term relationships with customers and partners. The company's client list includes IBM, Boeing, Dell and other Fortune 500 companies. LUXOFT is successful in extending relationships with current customers - the number of projects performed for Boeing and IBM constantly increases. At the same time, LUXOFT is expanding business operations and working with new clients. For example, the company recently opened an Offshore Development Center for Deutsche Bank in Moscow.
"We have proven that Russian companies can realize their great potential in the world market and can perform complex IT projects that others would not or could not touch due to their technological skill level or resources", comments Dmitry Loschinin, CEO of LUXOFT. "Advanced technologies, robust methodology and unique industrial expertise make LUXOFT a world-class company."
About LUXOFT
LUXOFT (www.luxoft.com) is a member of the IBS Group, Russia's largest and most successful IT holding company. IBS Group's key business services are: consulting, system integration, informational systems implementation, outsourcing and disaster recovery, and software development. Established in 1992, IBS Group has over 3,500 employees operating in 16 countries worldwide. Showing substantial annual growth above 20% over the past five years, IBS group is expected to finish 2003 with a revenue of $450M. Among IBS Group's clients are: Boeing, IBM, Dell, CitiBank, British Petroleum, Shell, Deloitte & Touche, JP Morgan, Ford, Mars, U.S. Department of Energy, and many others across the globe. LUXOFT is the fastest growing member of the IBS Group.
For four consecutive years Russia has enjoyed a stable growth in its economy. With a significant R&D heritage, the world's best educational system, and the largest pool of highly qualified software engineers and researchers, the country is the ideal place for outsourcing of complex software engineering and R&D projects. The Russian IT & Telecommunications sectors are experiencing an average growth of 45% and are expected to reach $20 billion by 2005 (Source: Ernst&Young). The country is acknowledged by major U.S and European companies, such as Boeing, Intel, Motorola, IBM, Sun Microsystems and many others running and expanding their innovative R&D centers in Russia. The true evidence of the country's success is in the recent achievement of investment grade status by independent Moody's Investment Services for the first time in Russia's history. Russia was also included in the list of the world's 10 most attractive countries for direct foreign investments.
Russia Media Contact:
Julia Rovinskaya, LUXOFT
+7 095 967-8030 or [email protected]
Level 5 of the SEI's CMMI and CMM quality standards is the highest possible rating for the IT industry's best management and engineering practices. Such a rating ensures that LUXOFT brings the best value to its customers by providing better requirement specifications, more powerful design evaluation, enhanced quantitative project management and defect prevention techniques.
Founded with 84 employees in 1999 and the support of the IBS Group, LUXOFT showed the dynamics of growth and by year 2002 employed 350 specialists. By the end of 2003, LUXOFT will employ more than 550 employees throughout the company. LUXOFT employs the best industry talent from the world's leading high-tech companies, such as IBM, Microsoft, Cisco Systems, Digital, CA, etc.
LUXOFT invests in Research & Development (R&D) to offer more value to customers and brings together cutting-edge scientific know-how with an industrial approach to software manufacturing. This combination melded with robust methodology gives LUXOFT the capability to provide its customers with added value and guarantees that the most complex problems will be solved. LUXOFT's investment in R&D serves as the foundation for innovative software products and solutions.
LUXOFT has established long-term relationships with customers and partners. The company's client list includes IBM, Boeing, Dell and other Fortune 500 companies. LUXOFT is successful in extending relationships with current customers - the number of projects performed for Boeing and IBM constantly increases. At the same time, LUXOFT is expanding business operations and working with new clients. For example, the company recently opened an Offshore Development Center for Deutsche Bank in Moscow.
"We have proven that Russian companies can realize their great potential in the world market and can perform complex IT projects that others would not or could not touch due to their technological skill level or resources", comments Dmitry Loschinin, CEO of LUXOFT. "Advanced technologies, robust methodology and unique industrial expertise make LUXOFT a world-class company."
About LUXOFT
LUXOFT (www.luxoft.com) is a member of the IBS Group, Russia's largest and most successful IT holding company. IBS Group's key business services are: consulting, system integration, informational systems implementation, outsourcing and disaster recovery, and software development. Established in 1992, IBS Group has over 3,500 employees operating in 16 countries worldwide. Showing substantial annual growth above 20% over the past five years, IBS group is expected to finish 2003 with a revenue of $450M. Among IBS Group's clients are: Boeing, IBM, Dell, CitiBank, British Petroleum, Shell, Deloitte & Touche, JP Morgan, Ford, Mars, U.S. Department of Energy, and many others across the globe. LUXOFT is the fastest growing member of the IBS Group.
For four consecutive years Russia has enjoyed a stable growth in its economy. With a significant R&D heritage, the world's best educational system, and the largest pool of highly qualified software engineers and researchers, the country is the ideal place for outsourcing of complex software engineering and R&D projects. The Russian IT & Telecommunications sectors are experiencing an average growth of 45% and are expected to reach $20 billion by 2005 (Source: Ernst&Young). The country is acknowledged by major U.S and European companies, such as Boeing, Intel, Motorola, IBM, Sun Microsystems and many others running and expanding their innovative R&D centers in Russia. The true evidence of the country's success is in the recent achievement of investment grade status by independent Moody's Investment Services for the first time in Russia's history. Russia was also included in the list of the world's 10 most attractive countries for direct foreign investments.
Russia Media Contact:
Julia Rovinskaya, LUXOFT
+7 095 967-8030 or [email protected]