|By Business Wire||
|August 5, 2014 03:05 PM EDT||
Luxoft Holding, Inc (NYSE:LXFT US), a leading provider of software development services and innovative IT solutions to a global client base, today announced its plans to launch a new delivery center in Guadalajara, Mexico. An office in Guadalajara will become Luxoft’s 22nd location, 17th delivery center, and thereby expands the Company’s presence to 14 countries around the globe.
The Guadalajara office will be supporting all six business lines: Financial Services, Automotive, Travel & Aviation, Telecom, Technology and Energy by delivering services and solutions, with a focus on clients in North America. Luxoft plans for this location to be fully operational by September 1, 2014 and expects to grow the delivery headcount up to 100 employees within the first year.
“One aspect of Luxoft’s value proposition has been effective nearshore delivery within Europe, more specifically within Western Europe. Our presence in Latin America now should allow us to effectively operate a nearshore model for our clients and potential clients in North America,” said Luxoft’s Vice President for Global Delivery, Dmitry Kushnir. “Opening of this office in Guadalajara is consistent with our Global Upgrade Program and goals of expanding our global delivery network and obtaining more even distribution of talent across our key geographies.”
We believe Guadalajara has proved itself as a viable IT destination. Leading global players, such as HP, IBM, Oracle, and other leading multinationals have operations in the Guadalajara. We also believe Guadalajara is not only a hub for local talent, but serves as a hub for all of Latin America due to its strong infrastructure and security, well-developed industrial parks, and an overall attractive climate and atmosphere.
Labor market in Mexico is expected to offer Luxoft a pool of over 90,000 technical graduates, including 6,000 engineering graduates and 2,000 IT-related graduates per year in Guadalajara. The Mexican government continues to support and sponsor programs targeted at graduate students studying electronics and computer science, most notably through the Center for Post-Graduate Studies.
“We are very excited about this expansion, Latin America is a brand new region for us and it further expands our global footprint. It also significantly diversifies our offering of nearshore locations for our global clients, who place utmost importance on convenience and the logistics of delivery,” said Luxoft President and CEO, Dmitry Loschinin. “Our delivery network will now span across more than half of the globe from Ho Chi Minh City to Stuttgart to New York and soon from Guadalajara. We hope it will provide a solid support for Luxoft’s continued growth and performance excellence.”
Luxoft Holding, Inc (NYSE:LXFT US) is a leading provider of software development services and innovative IT solutions to a global client base consisting primarily of large multinational corporations. Luxoft’s software development services consist of core and mission critical custom software development and support, product engineering and testing, and technology consulting. Luxoft’s solutions are based on its proprietary products and platforms that directly impact its clients’ business outcomes and efficiently deliver continuous innovation. The Company develops its solutions and delivers its services from 17 dedicated delivery centers worldwide. It has over 7,700 employees across 14 countries in North America, Western and Eastern Europe, and Asia Pacific. Luxoft is incorporated in Tortola, British Virgin Islands, has an operating headquarters office in Zug, Switzerland and is listed on the New York Stock Exchange. For more information, please visit http://www.luxoft.com.
This release 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 include, but are not limited to, statements regarding or alluding to: the future growth of spending in IT services outsourcing generally and in each of our industry verticals, the level of growth of demand for our services from our clients; the level of increase in revenues from our new clients; general economic and business conditions in our locations, the levels of our concentration of revenues or delivery headcount by vertical, geography, by client; the expected timing and our ability to the increase in headcount in Latin America, Mexico or other locations; to integrate and manage the new location into the existing delivery network; the demands we expect our rapid growth to place on our management, delivery system and infrastructure, and potential revenue growth related to the successful execution of factors supporting such growth; and other factors discussed under the heading "Risk Factors" in the Annual Report on the Form 20-F for the year ended March 31, 2014 and other documents filed with the Securities and Exchange Commission. Except as required by law, we undertake no obligation to publicly update any forward-looking statements for any reason after the date of this press release whether as a result of new information, future events or otherwise.
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