Russia's Luxoft Moves To Grow US Presence
Aug 05, 2002
SEATTLE - July 29, 2002 - LUXOFT, a leading Russian software development company, today announced the company's official expansion and business diversification into the U.S software development market, providing unsurpassed Russian development skills to companies that currently outsource and are interested in alternative solutions as a part of a risk mitigation strategy.
Offering experienced staff, fast results and cost effective solutions, LUXOFT plans to offer highly skilled development and programming expertise to further advance IT objectives of U.S. leading corporations.
A recent Forrester Research report titled, "U.S. Outsourcing Decelerates," predicts that the U.S. outsourcing market will grow to $226 billion by 2006. During a period when companies are working to contain costs, LUXOFT provides cost-effective and advanced development expertise to help bring products to market more quickly while not impacting bottom line budgets.
Founded in April 2000 as a member of the IBS Group, the largest IT holding company in Russia, LUXOFT employs more than 300 employees as part of the larger IBS pool of 2,000 IT qualified professionals executing projects in 16 countries worldwide.
The company's engineers are highly trained to solve complex technological problems, having expertise in HTML, Java, MSMQ and XML. The company also has expertise in other application servers and industry frameworks, such as .NET, BEA's WebLogic, IBM's WebSphere and tools and programming languages, including mainframe languages. LUXOFT is a level 4 SEI CMM company, as well as ISO 9001:2000 certified by Lloyd's Register Quality Assurance (LRQA), one of the world's most reputed quality assessors.
"Based on the size of the U.S. market, the expertise of the LUXOFT development team and Russian programmers as a whole, we are looking to offer our solutions to other United States-based businesses," said Dmitry Loschinin, CEO, LUXOFT. "With the success we have had with various U.S. based organizations in their Russian facilities, we look forward to continuing to build our relationships with other American organizations, such as Boeing and the United States Department of Energy and expanding our offerings in this country."
Currently, Russia sits in a beneficial position over other emerging outsourcing markets in that its massive intellectual labor pool provides an unlimited amount of highly skilled workers who possess the ability to work effectively and immediately on new projects.
According to statistics from the research-and-development group Offshore Development Group, revenue of Russian outsourcing firms from U.S. clients is growing by 70- to 80 percent per year, versus 30- to 40 percent per year in competitive Indian firms.
With the stemming conflicts growing between India and Pakistan, and the recommendation to avoid traveling to Western India by United States Government, opportunities for investment in offshore outsourcing in Russia positions organizations such as LUXOFT to move to the forefront of this expanding market sect.
LUXOFT Expertise Based on Instrumental Russian Schooling
Based on a highly advanced education system, Russian educators have placed more emphasis on the fundamental sciences, focusing on solving abstract problems and handling complex research, often across multiple technology platforms. Russia's Ministry of Education statistics reveal the Russian education system currently enrolls more than 4.7 million university students, of which more than 40 percent are pursuing degrees in science, compared to 16.8 percent in the United States.
LUXOFT's management team is comprised of former programmers with more than 50 years of combined years of IT experience stemming from a variety of government and corporate programs. Dmitry Loschinin, LUXOFT CEO, has more than 12 years in the software development business, having started as a programmer in the late 1980s.
By 1995, Loschinin headed the Business Management Services practice at IBM EE/A. He also has prior experience in top management positions a
Offering experienced staff, fast results and cost effective solutions, LUXOFT plans to offer highly skilled development and programming expertise to further advance IT objectives of U.S. leading corporations.
A recent Forrester Research report titled, "U.S. Outsourcing Decelerates," predicts that the U.S. outsourcing market will grow to $226 billion by 2006. During a period when companies are working to contain costs, LUXOFT provides cost-effective and advanced development expertise to help bring products to market more quickly while not impacting bottom line budgets.
Founded in April 2000 as a member of the IBS Group, the largest IT holding company in Russia, LUXOFT employs more than 300 employees as part of the larger IBS pool of 2,000 IT qualified professionals executing projects in 16 countries worldwide.
The company's engineers are highly trained to solve complex technological problems, having expertise in HTML, Java, MSMQ and XML. The company also has expertise in other application servers and industry frameworks, such as .NET, BEA's WebLogic, IBM's WebSphere and tools and programming languages, including mainframe languages. LUXOFT is a level 4 SEI CMM company, as well as ISO 9001:2000 certified by Lloyd's Register Quality Assurance (LRQA), one of the world's most reputed quality assessors.
"Based on the size of the U.S. market, the expertise of the LUXOFT development team and Russian programmers as a whole, we are looking to offer our solutions to other United States-based businesses," said Dmitry Loschinin, CEO, LUXOFT. "With the success we have had with various U.S. based organizations in their Russian facilities, we look forward to continuing to build our relationships with other American organizations, such as Boeing and the United States Department of Energy and expanding our offerings in this country."
Currently, Russia sits in a beneficial position over other emerging outsourcing markets in that its massive intellectual labor pool provides an unlimited amount of highly skilled workers who possess the ability to work effectively and immediately on new projects.
According to statistics from the research-and-development group Offshore Development Group, revenue of Russian outsourcing firms from U.S. clients is growing by 70- to 80 percent per year, versus 30- to 40 percent per year in competitive Indian firms.
With the stemming conflicts growing between India and Pakistan, and the recommendation to avoid traveling to Western India by United States Government, opportunities for investment in offshore outsourcing in Russia positions organizations such as LUXOFT to move to the forefront of this expanding market sect.
LUXOFT Expertise Based on Instrumental Russian Schooling
Based on a highly advanced education system, Russian educators have placed more emphasis on the fundamental sciences, focusing on solving abstract problems and handling complex research, often across multiple technology platforms. Russia's Ministry of Education statistics reveal the Russian education system currently enrolls more than 4.7 million university students, of which more than 40 percent are pursuing degrees in science, compared to 16.8 percent in the United States.
LUXOFT's management team is comprised of former programmers with more than 50 years of combined years of IT experience stemming from a variety of government and corporate programs. Dmitry Loschinin, LUXOFT CEO, has more than 12 years in the software development business, having started as a programmer in the late 1980s.
By 1995, Loschinin headed the Business Management Services practice at IBM EE/A. He also has prior experience in top management positions a