The acquisition is aimed at further strengthening its APAC
presence.
Luxoft Holding, Inc. (NYSE:LXFT), a leading provider of software
development services, innovative IT solutions, and digital
transformation to a global client base, today announced completion
of the transaction pursuant to a Share Purchase Agreement to
acquire derivIT, a Singapore-based financial
services-focused technology consulting company.
derivIT provides a unique blend of technology expertise,
deep domain understanding and strong knowledge of leading
platforms, such as Murex, in capital markets and credit and risk
management. This transaction was closed upon the receipt of the
approval by Reserve Bank of India, as well as satisfaction of
several other customary conditions precedent.
“Completion of derivIT transaction reinforces a strong
foundation on which our company is building its presence and the
delivery platform in the APAC,” said Dmitry Loschinin, President
and CEO of Luxoft. “We are very pleased to welcome
derivIT team and start realizing expected significant synergies in
servicing current high-potential clients in the Asia Pacific
region, anchoring new business opportunities in financial,
automotive, telecom and other sectors, as well as taking advantage
of the immediate cross-selling opportunities we see at this
time.”
The derivIT acquisition adds several delivery centers,
which are expected to enhance the scalability of Luxoft’s current
distributed delivery center ecosystem into additional locations,
such as Bangalore, India; Dubai, UAE; and Tianjin, China. The
acquisition also is expected to expand Luxoft’s existing
capabilities in Singapore.
“We are excited to join forces with derivIT and continue
to strengthen our foothold in Asia Pacific. The region enjoys ample
demand for packaged software to streamline operations and generate
operational cost savings for continued investments into innovation
and digital transformation,” said Roman Trakhtenberg, Group
Managing Director and Global Head of Excelian, Luxoft Financial
Services. “Furthermore, the expansion of our
sophisticated engineering workforce, which delivers premium
consulting and digital-related services from India, Vietnam, and
Malaysia, is expected to significantly improve our ability to
effectively cater to large enterprises located in Singapore,
Australia, Hong Kong, China, and the Middle East.”
Strata Partners acted as the exclusive financial adviser to
Luxoft on this transaction.
About Luxoft
Luxoft Holding, Inc. (NYSE:LXFT) a leading provider of
software development services and innovative IT solutions to a
global client base consisting primarily of large, multinational
corporations predominantly in Europe, North America and Asia
Pacific. The Company’s software development services consist
of core and mission critical custom software development and
support, product engineering, and technology consulting. Its
bespoke solutions include technology architecture selection and
other consulting, proprietary products and/or standard system
software and platforms, as well as implementation and
maintenance. Through its services and solutions, the Company
helps its clients improve their competitive position by increasing
efficiency, optimizing costs, and enabling changes through
disruptive digital technologies that enhance end-user experience
and shorten time-to-market.
The Company develops its solutions and delivers its services
from 37 dedicated delivery centers worldwide. It has more than
12,800 employees across 42 offices in 21 countries within five
continents – North America, Europe, Africa, Asia, and Australia.
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 Excelian, Luxoft Financial Services
Excelian, Luxoft’s Financial Services division, helps customers
maximize efficiency, reduce risk and increase speed of delivery via
adoption of better practices and advanced systems. Excelian
delivers an end-to-end service, from consulting to technology
services, platform consolidation, infrastructure optimization,
cloud and utility-based models, complemented by a range of
proprietary solutions. Excelian manages the standardization of
custom complex software development and helps simplify solutions to
streamline banking cost structures and achieve more efficient
operations via its expertise in packaged software from Murex,
OpenLink, and Calypso, among others.
About derivIT
derivIT, founded in December 2007, is a consulting-driven
firm focused on providing the best in class service to the ever
changing and diverse Capital Markets industry. derivIT is
backed by domain expertise and a proficient team of in-house
consultants. derivIT has a strong client base spread across
Singapore, Australia, Malaysia, India, China, and the Middle East.
Today, derivIT continues to expand into new geographies and
markets with the goal of enabling its clients to achieve
competitive advantages through the company’s domain expertise and
dedication. Being a Global Alliance partner to Murex has allowed
derivIT to offer a complete range of services on Murex’s
MX.3 and MxG2000 platforms covering system implementations,
upgrades, support, development, risk consulting, and managed
testing.
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, 2017 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.
All trademarks are recognized and are the property of their
respective companies.
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Luxoft Holding, Inc.Investor InquiresAlina V.
Plaia, 212-964-9900, ext. 2404Vice-President, Global
CommunicationsIR@luxoft.comorMedia InquiriesPatrick R.
Corcoran, 212-964-9900 ext. 2453Global Director, External
RelationsPress@luxoft.com@Luxoft
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