Luxoft Opens a New Office in Menlo Park, California

NEW YORK & MOSCOW--(BUSINESS WIRE)--Luxoft, a member of the IBS Group and a global provider of advanced application and product development services, today announced that it is expanding its presence in the United States by opening its third location - in Menlo Park, California.

Luxoft has been working with North American clients for over a decade. Seattle office serves enterprise clients, including Boeing and Dell, while New York office predominantly interacts with financial services companies. New Menlo Park location will become Luxoft’s global frontier for building collaboration with major technology players in the United States.

“Luxoft has been present in the U.S. since 2000 and that allowed us to gain a significant number of customers during the past twelve years in the region. We believe that the new location will strengthen Luxoft’s position in this part of the world and reaffirm our commitment to further grow our company within the North American market by serving our existing customers and building a solid new client base,” said Dmitry Loschinin, CEO & President Luxoft.

Luxoft’s Menlo Park office will be lead and managed by Mikhail Minkevich, VP of Technology Services, who has more than 15 years of experience in the IT industry with the company-wide focus on technology verticals including, in particular, Automotive, Energy & Utilities, Semiconductors and New Media. Michael joined Luxoft in 2003 and since then has been instrumental in making Luxoft a recognized global player in the product development area.

“Luxoft’s new office in the Menlo Corporate Center represents an important next step in our longer term commitment to the United States client base and building a significant presence in the Silicon Valley. We look forward to working closer with our long-established clients and partners and to becoming an active part of the vibrant community of high-tech innovative companies that have originated and now prosper in this important region,” said Mikhail Minkevich, VP Technology Services Luxoft.

About Luxoft

Luxoft, a principal subsidiary of IBS Group, is a provider of advanced application and software engineering outsourcing services for global and regional enterprises. Luxoft builds partnerships with its clients, such as AMD, HP, Ford, Boeing, IBM, Deutsche Bank, UBS, Harman, Avaya, and Alstom, and, based on the culture of engineering excellence, innovation, and deep domain expertise. Luxoft offers international delivery capability through its network of state-of-the-art delivery centers in North America, Eastern Europe, and Asia. Luxoft`s customers benefit from the right mix of technology skills, industry knowledge, proprietary processes and methodologies, and a choice of engagement models.

About IBS Group Holding Limited

IBS Group is a leading software development and IT services provider in Central and Eastern Europe. Through its two principal subsidiaries, Luxoft and IBS IT Services, it offers a wide variety of information technology services, such as software development and IT services outsourcing, IT infrastructure and business applications implementation. IBS Group has business operations in Russia, Ukraine, Romania, Poland, Germany, Switzerland, the UK, the USA, Vietnam and Singapore. IBS Group employs more than 8,300 people worldwide. In the year ended March 31, 2012, the Group reported US GAAP consolidated revenues of USD816.3 million. IBS Group's Global Depositary Receipts are listed on the Regulated Market (General Standard) at the Frankfurt Stock Exchange (Bloomberg: IBSG:GR; Reuters: IBSGq.F)