UBS Signs a 3-Year Strategic Vendor Contract with Luxoft
November 21 2016 - 4:35PM
Business Wire
Luxoft Holding, Inc (NYSE:LXFT US), a leading provider of
software development services and innovative IT solutions to a
global client base, today announced the signing of a three-year
agreement with UBS, one of its largest customers. The agreement has
a minimum target spend of USD 300 million or USD 100 million a year
on average, and Luxoft will have strategic vendor status for UBS IT
during the entire term. The strategic framework includes business
and technology consulting for cost efficient regulatory compliance
and innovative digital transformation in the areas of trading,
finance, accounting, regulatory and others.
“Luxoft and UBS have been building a strong relationship since
2006 with Luxoft contributing to the Bank’s complex engagements as
a Change The Business (CTB) category vendor. We’re helping UBS
leverage new innovative technologies and processes such as cloud,
big data and data analytics, machine learning to optimize their
business and transform the way they engage with customers,” said
Luxoft President and CEO, Dmitry Loschinin. “We are proud to be a
trusted partner for UBS, assisting them in simplification of their
IT infrastructure, continuous performance improvement, as well as
shifting to a mutually beneficial new age output- and outcome based
managed services model.”
“Our goal is to continue building leading-edge customer-facing
technologies which enable us to provide the best user experience
for years to come,” said UBS CIO Michael Dargan. “Luxoft has been a
trusted vendor for UBS for nearly a decade. We are confident in
their deep understanding of the financial services industry and
end-to-end solution implementation skills and thus Luxoft’s ability
to assist us in the global transformation process.”
About Luxoft
Luxoft Holding, Inc (NYSE:LXFT) is a leading provider of
software development services and innovative IT solutions to a
global client base consisting primarily of large multinational
corporations. Luxoft’s software development services consist of
core and mission critical custom software development and support,
product engineering and testing, and technology consulting.
Luxoft’s solutions are based on its proprietary products and
platforms that directly impact its clients’ business outcomes and
efficiently deliver continuous innovation. The Company develops its
solutions and delivers its services from 32 dedicated delivery
centers worldwide. It has more than 11,500 employees across 39
offices in 19 countries in North America, Mexico, Western
and Eastern Europe, Asia Pacific, and South
Africa. Luxoft is incorporated in Tortola, British
Virgin Islands, has its operating headquarters office in
Zug, Switzerland and is listed on the New York Stock
Exchange. For more information, please visit
http://www.luxoft.com
About UBS
UBS provides financial advice and solutions to wealthy,
institutional and corporate clients worldwide, as well as private
clients in Switzerland. The operational structure of the Group is
comprised of our Corporate Center and five business divisions:
Wealth Management, Wealth Management Americas, Personal &
Corporate Banking, Asset Management and the Investment Bank. UBS's
strategy builds on the strengths of all of its businesses and
focuses its efforts on areas in which it excels, while seeking to
capitalize on the compelling growth prospects in the businesses and
regions in which it operates, in order to generate attractive and
sustainable returns for its shareholders. All of its businesses are
capital-efficient and benefit from a strong competitive position in
their targeted markets. www.ubs.com
Forward-Looking Statements
This news release of Luxoft Holding, Inc (“Luxoft”)
contains “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995, Section 27A of
the Securities Act of 1933, and Section 21E of the Securities
Exchange Act of 1934. These forward-looking statements include
information about possible or assumed future results of our
business and financial condition, as well as the results of
operations, liquidity, plans and objectives. In some cases, you can
identify forward-looking statements by terminology such as
“believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,”
“should,” “plan,” “expect,” “predict,” “potential,” or the negative
of these terms or other similar expressions. These statements are
subject to, without limitation, the risk factors discussed under
the heading “Risk Factors” in Luxoft’s Annual Report on Form 20-F
for the year ended March 31, 2016 and other documents
filed with or furnished to the Securities and Exchange
Commission by Luxoft. Except as required by
law, Luxoft undertakes no obligation to publicly update
any forward-looking statements for any reason after the date of
this news release whether as a result of new information, future
events or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20161121006170/en/
Luxoft Holding, IncAlina V. Plaia, +1-212-964-9900 ext.
2404Vice-President, Global CommunicationsIR@luxoft.comorPatrick R.
Corcoran, +1-212-964-9900 ext. 2453Director, Public
RelationsPCorcoran@luxoft.com
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