St. Pete Stakes Claim as Software Capital

St. Petersburg boasts a surprisingly large share of Russia's software development industry -- about the same as Moscow, by some accounts - and St. Petersburg-based companies are positioning themselves as big-time players as the sector prepares to grow rapidly in the next few years, according to experts on hand last month at the industry's main annual event, the Software Outsourcing Summit. Offshore software development alone brought Russia some $200 million last year and will grow by roughly 25 percent annually over the next several years, according to Ernst & Young.

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