Luxoft is an international custom software development company with more than 13,000 employees, 42 offices in 21 countries in North America, Mexico, Western and Eastern Europe, Asia Pacific, and South Africa. It is incorporated in Tortola, British Virgin Islands, has its operating headquarters office in Zug, Switzerland, tax domiciled in London, and is listed on the New York Stock Exchange. Their customer list consists of over 170 clients, over 30 of which are high potential accounts (next UBS, Boeing, Harman etc.).
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History
Luxoft was initially established in 1995 in Moscow as a development center of IBS, an IT holding company. In April 2000, the development center was incorporated as a separate entity under the direction of Dmitry Loschinin.
As of 26 June 2013, Luxoft is listed on the New York Stock Exchange, following an initial public offering of 4.1 million shares at $17 each. According to IBS President and main shareholder Anatoly Karachinsky, Luxoft was spun off in order to "unlock value for shareholders who aren't interested in the Russian part of the group's business".
After the pro-Russian unrest in Ukraine in 2014, Luxoft "relocated its senior management and about 100 engineers this year from Russia and Ukraine to Switzerland". The company had offices in three Ukrainian cities--Kiev, Odessa, and Dnipropetrovsk--and as of March 2014, 49% of its employees were based in Ukraine and 29% in Russia.
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Initial Public Offering
Luxofts initial public offering took place on June 26, 2013 priced at $17.00 per ordinary share. UBS Limited, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, VTB Capital plc and Cowen and Company, LLC were the joint book running managers for the offering. Dmitry Loschinin, CEO, commented: "Our successful IPO is the ultimate testament to the unique talent pool in Central and Eastern Europe, our employees that made the company into a success story. We are the second technology company with the resources in that region that is being supported by the investors globally, recognized and welcomed by U.S. tech investors and is welcomed by NYSE Euronext over the last 18 months."
Clients and services
Luxoft's clients "consist primarily of large multinational corporations", such as Boeing, Ford Motor Co., and Deutsche Bank. For example, Luxoft created software that facilitates determining a customer's creditworthiness for Deutsche Bank. Other products have included "derivative trading systems for banks and computer-vision navigation that matches a moving image from a camera mounted in a car to locations on a map".
Global expansion
Luxoft has development centers in Romania (Bucharest), Malaysia (Penang), Vietnam (Ho Chi Minh City), Poland (Krakow, Wroclaw, Tricity), Bulgaria (Sofia), Russia (Moscow, St. Petersburg, Omsk), Ukraine (Kiev, Odessa, Dnipro). and Mexico (Guadalajara).
Representative offices of the company are also located worldwide in: United States (New York, NY; Seattle, WA), Europe (London, UK; Frankfurt, Germany) and Asia (Singapore).
Luxoft is actively pursuing M&A strategy having recently acquired local companies in USA, United Kingdom, Germany, Denmark (2014-2016).
Acquisitions
References
External links
- Global website
Source of article : Wikipedia
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