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DataArt Announces 2013 Year-End Results; Posts Record Revenue
|By Business Wire
|February 13, 2014 09:30 AM EST
a leading custom software development firm serving select industries,
today announced a record revenue of $40M for 2013, a 25% annual growth,
with over 90 new client wins.
The company’s client portfolio remained diversified, with the top ten
clients accounting for just 37% of total revenue. 43 out of 45 top
clients in 2012 continued to work with DataArt in 2013, attesting to the
company’s industry expertise, stability and excellent management. The
client list is comprised in equal measure of large, medium, small and
start-up businesses (28%, 27%, 25% and 19% respectively).
Innovative use of technologies and finely-tailored client solutions
resulted in the
Travel & Hospitality practice doubling its revenue in the U.S.
and UK, with its executives speaking at several high-level industry
conferences. The Media
practice grew by 90%, and the Financial
Services practice, the largest in the company, had a steady growth
of 28%, servicing asset management firms and broker dealers and
launching two reporting applications - Free
Form PF and AIFMD
Reporting Tool. The Healthcare
& Life Sciences practice has seen the largest investment in R&D
and human resources, which resulted in key client wins in the past few
a cloud-based M2M framework invented by DataArt developers, has been
used in a number of client projects, and its co-inventors became
sought-after speakers at key industry events, including JavaOne.
2013 has been a record-breaking year for the company in other regards.
DataArt hired 300 engineers, bringing the total employee count to over
1,000 across ten geographic locations, with five R&D centres operating
in Ukraine and two in Russia. The London and New York offices doubled
executive management staff.
DataArt was once again named to the prestigious INC.
5000 list of the fastest growing U.S. companies and selected to the Global
Sourcing 100 List of top software providers for the sixth year in a
”DataArt’s record growth over the last year was accelerated by our
industry experts’ ability to create and build top notch solutions and
thanks to expanding our existing client accounts,” said Eugene Goland,
President of DataArt. “In 2014, we look forward to continuing our rapid
growth by investing heavily in our industry practices, as well as
tailoring our services to better fit our clients’ needs.”
In 2014, DataArt plans to develop specialized offerings for enterprise
clients, addressing their unique challenges related to scale,
regulation, competition, staff shortages and technology modernization.
Four key areas are planned: system modernization, product launch,
elastic development and managed services.
The company aims to expand its service portfolio beyond core development
and QA to business analysis, product planning, design on the front end
of the spectrum and managed services. DataArt will continue to
aggressively invest in existing industry practices.
is a custom software development company that builds advanced solutions
for the financial
services, healthcare, hospitality and other
industries. Combining domain knowledge with offshore cost advantages and
resource flexibility, DataArt develops industry-defining applications,
helping clients optimize time-to-market and minimize software
development risks in mission-critical systems. With an unrivalled talent
pool of highly skilled software engineers in New York, London, Russia
and Ukraine, DataArt provides the technical skill, accountability and
industry knowledge needed to deliver custom applications on time and on
budget. DataArt clients include
Standard & Poor’s, Harmonic Fund Services, Ogilvy, artnet, Panasonic,
Cancer Research, Ocado, Charles River Laboratories, Betfair, Misys,
leading asset management firms and three of the world’s top ten
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