Software Development segment's primary activity is to undertake complex software development projects for corporate clients, mainly in Western Europe and the US focused on the development of customised, sophisticated software in areas requiring a tailored approach by teams of programmers located at offshore development centers or at the customer site.
The Group delivers specific solutions for various industries, including aviation, finance and banking, IT industry and others.
The Group’s Software Development services are provided by Luxoft company. Founded in April 2000, Luxoft is primarily a technology solution provider. Its services range from the design and development of custom software applications to the maintenance and improvement of existing software. Luxoft’s technology solutions assist its customers to increase the efficiency of their IT infrastructure.
Luxoft is a holder of the CMMI Level 5 Certificate, which it was awarded in 2007 by the Software Engineering Institute (SEI), a global resource in software engineering and process improvement.
The Software Development segment of the Group generated revenues of USD 149.0 Million and an EBITDA of USD 24.5 Million in the year ended 31 March 2010. The Software Development segment achieved revenues from external customers of USD 147.9 Million, equal to 29% of the revenue of the Group and contributed 71% to the EBITDA of all business segments (excluding intersegment revenues).
As of 31 March 2010 the Group employed approximately 3,028 employees in its Software Development segment.