Russian offshore software developer at Luxoft is moving to New York IPO

EDITOR'S NOTE: This article first East-West Digital News, Russian and digital industries and related project activities, published a well-known English-language resource.


Luxoft, a leading offshore software developer based in Moscow, and its class A common stock for a proposed initial public offering has filed a registration statement is declared yesterday. Book running managers in the operation of UBS Limited, Credit Suisse, JP Morgan, VTB Capital and Cowen and Company will be.

This number can change the date of the offer, though - according to the filing, Luxoft the IPO is expected to raise $ 80 million.

March 31, 2013 ended the fiscal year, the company increased 16 percent year-to-year, revenue was $ 314.6 million posts.

By Uralsib Capital, according to an analysis conducted last year, some $ 519 million - Luxoft, founded in 2000, 87 per cent of the group's assessment is part of the IBS Group. The company then Russia, Ukraine, United Kingdom, Vietnam, Romania, Germany and Poland, as well as marketing offices in the U.S. and Cyprus Development offices employ more than 5,900 people.

Freedom for Luxoft recently by an unknown amount. S by open source solution for extending the American presence.



Beyond software outsourcing, Luxoft's strong points, the general solution for automotive human machine interface (HMI) is added. Auto sector trends, the most far-reaching in its December 2012 survey, Gartner infotainment telematics, advanced driver assistance systems (ADASs), the major functional areas such as vehicle technology and associated services, including the world's four major Luxoft the provider's name, and mobility services

"However, Luxoft too strong and protectable IP assets is a challenge to translate."

"The Russian IPO will be good news for the IT industry," Puntikov is.

Russian tech companies to go west

Mail.Ru Group in October 2010, on the Russian internet scene, one of the leading players, was introduced in the London Stock Exchange. In May 2011 Search giant Yandex raised $ 1.3 billion during its Nasdaq IPO.

2012 EPAM Systems, based on a CEE Luxoft offshore software developer and one of the competitors in the beginning launched a Nasdaq IPO. The results, however, were less than the company had expected: $ 650 instead of the $ 730 million predicted value, EPAM Systems' $ 490 million cost was about.

Western stock exchanges at the same time as people tend to go to London and Moscow stock exchanges trading of its shares by almost 15 per cent in November 2012, which raised $ 1.7 billion in Russian mobile operator Megafon, was supported by . For example, a recent $ 212 million paid by the operator Qiwi NASDAQ's IPO earlier this month.

Already announced IPO plans, but have not yet filed official statements on the Russian market players said. Another year online with its IPO promises to live up to the fashion shopping club KupiVip.ru,, and airline ticket booking site plan OneTwoTrip 2014 with a Western IPO.

Some Russian companies offer the public has not succumbed to the tempting possibilities.

Last year Vontakte.ru (VK.com), the largest Russian social network, indefinitely postponed the IPO; put as CEO Pavel Durov, "Facebook the social network's IPO Individual investors' confidence is destroyed. "