|Traded as||NYSE: LXFT|
|Headquarters||Switzerland, Zug, |
|CEO Dmitry Loschinin|
|Services||application development, Mobile application development, software engineering, IT consulting and User experience design|
|Revenue||US$906.8 million (2018)|
Number of employees
Luxoft is an international custom software development company with more than 12,900 employees, 41 offices in 22 countries in North America, 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 classified as "high potential accounts" (next UBS, Boeing, Harman etc.).
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 $17.00 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. 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 start of Russia aggression 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.
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".
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).
Luxoft is actively pursuing a mergers and acquisitions strategy having acquired local companies in USA, United Kingdom, Germany, and Denmark from 2014.
|Company name||Industry||Country||Date of acquisition||Reference|
|Radius Inc.||Internet of Things/Big data||USA||2014|||
|Symtavision||Automotive - Timing Analysis||Germany||2016|||
|UNAFORTIS AG||Financial services||Switzerland||2017|||
|Smashing Ideas||Software Development||USA||2018|||
In January 2019 Luxoft was acquired by DXC Technology. According to the information from SEC database, DXC Technology now owns 83% of Luxoft shares. The eventual close of the deal will be in June 2019.
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