Eastern European Service Provider is First to Go Global

HO CHI MINH CITY, Vietnam & MOSCOW (Business Wire EON) April 22, 2008 -- Luxoft, a global provider of high-end software application and product development services to clients such as Deutsche Bank, Boeing, IBM, UBS and others, today announced it has opened a new delivery center in Ho Chi Minh City, Vietnam. The opening marks the first time an Eastern European software service provider has established a presence in Vietnam. It also makes Luxoft the first outsourcing provider in its region to offer a truly global delivery model.

Companies today are looking for effective ways to cut costs and improve their bottom line without sacrificing quality

“Companies today are looking for effective ways to cut costs and improve their bottom line without sacrificing quality,” said Dmitry Loschinin, CEO and President of Luxoft. “By enhancing our global footprint, we are proactively mitigating our clients’ cost pressures while preserving the culture of innovation, rock solid execution and engineering excellence that customers have come to expect from Luxoft.”

With delivery locations across EMEA, North America, Central and Eastern Europe, the addition of the Vietnam delivery center further enhances Luxoft’s ability to provide worldwide clientele with the optimal mix of nearshore, offshore and onsite delivery models. The Vietnam delivery center is ideally positioned for clients looking to diversify their sourcing geography portfolio and lower their outsourcing costs. It will service both ISV and enterprise customers and will offer a comprehensive set of application and product development services.

Luxoft’s clients will benefit from Vietnam’s relatively untapped skilled labor force, solid education system, high English proficiency, low attrition and competitive cost structure. NeoIT ranked Vietnam's Ho Chi Minh City as the top non-Indian city in its 2006 review of the most competitive cities for outsourcing, based on the available labor pool and infrastructure.

“Vietnam’s economy is booming and we offer a skilled workforce, a fast growing education system, political stability and lower costs,” said Mr. Truong Gia Binh, head of the Vietnam Software Association. “Luxoft is perfectly poised to take advantage of all we have to offer and deliver tangible benefits to its customers worldwide.”

About Luxoft

Luxoft, an emerging global leader in application and product engineering services, helps enterprise IT organizations and software vendors navigate the rapidly changing technology landscape and build powerful, flexible and future-proof solutions. Unlike traditional outsourcing companies that emphasize volume and labor arbitrage, Luxoft builds lasting partnerships with its clients based on the culture of engineering excellence, professionalism and innovation. Among Luxoft’s satisfied customers are such market leaders as Deutsche Bank, Boeing, UBS, Dell, IBM, Sabre, Alcatel, Areva and others.

Luxoft offers global outsourcing and delivery capability through its network of state-of-the-art delivery centers in North America, Central and Eastern Europe and Asia. Luxoft’s customers benefit from the right mix of skills, resources, best-of-breed processes and methodologies and a choice of engagement models.

Luxoft is the recipient of the 2007 Frost & Sullivan Global Outsourcing Growth Excellence & Customer Value Leadership Award, as well as the Applied Innovation Award from the IAOP and Wipro, ITAA and Forbes (together with Deutsche Bank). For more information visit: www.luxoft.com.

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