Wikipedia

Luxoft

Luxoft, a DXC Technology subsidiary, is represented in 21 countries with 17 000+ employees globally. Luxoft is headquartered in Zug, Switzerland with several large offices in the US, Poland, Germany, India,[1] Ukraine, Singapore, and Serbia.[2][3]

Luxoft
Company typeSubsidiary
IndustrySoftware development
Founded2000; 24 years ago (2000) in Moscow, Russia
HeadquartersSwitzerland, Zug,
Zug
,
Switzerland
Area served
Worldwide
Key people
Raul Fernandez
(President and CEO)
Services
RevenueIncrease US$906.8 million (2018)[4]
Number of employees
17,000+
ParentDXC Technology (100%)
Websitewww.luxoft.com

History

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In 2000, Luxoft was established under the direction of Dmitry Loschinin in Russia.[5]

In 2008, it acquired ITC Networks in Bucharest.[6]

In 2013, Luxoft was listed on the New York Stock Exchange, following an initial public offering of 4.1 million shares at $17.00 per ordinary share.[7] 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.

In 2010, Luxoft established a development center in Kraków, Poland.[8][9] Since 2018, Luxoft has been present in Italy (Turin), through the acquisition of the Objective site.[10]

In 2018, Luxoft enabled Switzerland's first Blockchain based e-vote platform with the City of Zug and Hochschule Luzern's Blockchain Lab.[11]

In January 2019, DXC Technology of Tysons Corner announced the acquisition of Luxoft Holding.[12]

In June 2019, DXC Technology completed the 100% acquisition of Luxoft.[13][14] According to the information from SEC database, DXC Technology owns 83% of Luxoft shares.[15]

Controversy

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Because of Russian invasion of Ukraine, the company announced it strongly supported Ukraine and condemned Russia. It decided to leave the Russian market, accordingly in April 2022 and the Russian business was sold to IBS Holding.[16]

Acquisitions

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Company name Industry Country Date of acquisition Reference
Radius Inc. Internet of Things/Big data   USA 2014 [17]
Excelian Financial services   UK 2015 [18]
Symtavision GmbH Automotive - Timing Analysis   Germany 2016 [19]
Pelagicore AB Automotive   Sweden 2016 [20]
INSYS Group Healthcare/Telco   USA 2016 [21]
IntroPro TMT   Ukraine 2017 [22]
derivIT Financial services   Singapore 2017 [23]
UNAFORTIS AG Financial services    Switzerland 2017 [24]
Smashing Ideas Design & Innovation   USA 2018 [25]
Objective GmbH Automotive Software Development   Germany 2018 [26]
CMORE Automotive GmbH Automotive   Germany 2020 [27]

References

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  1. ^ "Luxoft opens new centre in Chennai". The Times of India. 2022-11-23. ISSN 0971-8257. Retrieved 2023-03-25.
  2. ^ "DXC Technology to Acquire Leading Digital Innovator Luxoft". Bloomberg. Retrieved 2019-07-11.
  3. ^ "Career at Luxoft".
  4. ^ "Luxoft Holding, Inc Reports Results for Fourth Quarter and Full-Year 2018". Retrieved 21 November 2018.
  5. ^ "US-based DXC acquires Russian-founded software development company Luxoft for $2 billion". Tech.eu. 2019-01-07. Retrieved 2024-05-21.
  6. ^ Staff, Computerworld (2008-07-23). "Luxoft Acquires Romania's ITC Networks". Computerworld. Retrieved 2022-06-22.
  7. ^ Andrii Degeler (2013-07-02). "Luxoft raises $70 million in New York IPO". Retrieved 2022-06-14.
  8. ^ TMC Net (2004-11-18). "Luxoft Opens Poland Development Center". Krakow, Poland: TMC Net. Retrieved 2012-02-20.
  9. ^ "Luxoft Ltd. Teams Up with Atmel Corporation to Complement its Application Development Services with ZigBee(R) Smart Energy(TM) Offering". businessweek.com. 2012-02-12. Archived from the original on February 7, 2009. Retrieved 2012-07-10.
  10. ^ "Career at Luxoft". Retrieved 2021-03-03.
  11. ^ "Zug citizens open to more blockchain-based e-voting". Crypto Valley. December 2018. Retrieved 2019-08-15.
  12. ^ "DXC Technology übernimmt Digital-Spezialisten Luxoft aus der Schweiz" (in German). Retrieved 2021-03-08.
  13. ^ Akanksha Rana (7 Jan 2019). ""DXC Technology to buy software development company Luxoft for $2 billion"". Reuters.
  14. ^ "DXC Technology Completes Acquisition of Leading Digital Innovator Luxoft". 14 June 2023.
  15. ^ "VC.ru". VC. 8 January 2019.
  16. ^ "DXC Technology self-reports possible Russian sanctions violations". Compliance Week. 23 May 2023.
  17. ^ "Luxoft Acquires Radius Inc., a Next Generation Technology Solution Provider Focused on IoT". Luxoft. 2014-10-07.
  18. ^ "Luxoft follows GFT with UK acquisition". Megabuyte. 2015-02-19.
  19. ^ "Luxoft Acquires Symtavision, a Leading Provider of Software Tools and Services for Real-time System Design and Development for the Automotive Industry". Luxoft. 2016-02-23.
  20. ^ "Luxoft acquires Pelagicore AB". Reuters. 2016-09-13.
  21. ^ "Luxoft acquires INSYS Group". Reuters. 2016-07-18. Archived from the original on December 3, 2019.
  22. ^ "Luxoft acquires Ukrainian software development company IntroPro". Reuters. 2017-02-06.
  23. ^ "Excelian: Luxoft Financial Services Completes the Acquisition of derivIT". BusinessWire. 2017-08-23.
  24. ^ "Excelian, Luxoft Financial Services Launches Global Avaloq Practice following Acquisition of UNAFORTIS". BusinessWire. 2017-08-28.
  25. ^ "Luxoft Acquires US-based Digital Innovation Agency, Smashing Ideas". Luxoft. 2018-06-18. Retrieved 2021-01-21.
  26. ^ "Luxoft Acquires Autonomous Drive and Connected Mobility Specialist Objective Software GmbH". luxoft.com. Retrieved 2019-05-26.
  27. ^ "Luxoft, a DXC Technology Company, Completes Acquisition of CMORE Automotive". finance.yahoo.com. Retrieved 2020-04-09.
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