IBS Group Ranked by IDC as Russia's Largest IT Services Provider in 2010

RAMSEY, Isle of Man, September 15, 2011 /PRNewswire/ --

IBS Group, a leading software development and IT services provider in Eastern Europe, was ranked as the largest Russian IT company by market share in the influential IDC survey for the fifth consecutive year.

According to IDC, a well-respected global provider of market intelligence in the IT, telecoms, and consumer technology markets, IBS Group was the leading Russian IT services provider in 2010 with 6.2% share of the Russian IT services marketin 2010 compared to 5.3% for its nearest competitor.

IBS Group was also ranked as number one in the business applications implementation segment with a market share of 17.1%. This was achieved primarily through multi-industry expertise of IBS IT Services, a member of IBS Group and a leading Russia IT services provider, in business applications implementation on the SAP and Oracle platforms.

According to IDC, the Russian IT services market grew by 29% year-over-year in 2010 to US$ 4.7 billion. IDC forecasts Russian IT services market to reach approximately US$5.8 billion in 2011, a 24% year-over-year increase.

"We expect the Russian market to sustain its recent robust growth trajectory supported by the deferred demand from 2008-2009. Furthermore, expansion of "cloud"-related technologies and introduction of various new sophisticated technologies for processing large data volumes represent secular trends in the IT industry that will ensure continued demand for value-added professional IT services in Russia", said Sergey Matsotsky, CEO of IBS IT Services.

About IBS Group

IBS Group is a leading software development and IT services provider in Eastern Europe. Through its two principal subsidiaries, Luxoft and IBS IT Services, it offers a wide variety of information technology services, such as software development, IT outsourcing, business and IT consulting, business applications implementation. IBS Group is headquartered in Russia and has business operations in Russia, Canada, Germany, Romania, Poland, Switzerland, the UK, Ukraine, the USA, Vietnam and Singapore. IBS Group employs more than 7,600 people worldwide. In 2010 financial year, IBS Group reported US GAAP revenues of US$656mm.

IBS Group's Global Depositary Receipts are listed on the Regulated Market (General Standard) at the Frankfurt Stock Exchange (Bloomberg: IBSG:GR; Reuters: IBSGq.DE). IBS Group is majority-owned by management with portfolio investors holding 35% of the Group's share capital.

About IBS IT Services

IBS IT Services (IBS ITS), a member of IBS Group, is a leading provider of general IT and business applications implementation services in Russia. IBS ITS customer base includes 38 of Russia's top 50 companies. Its core business lines include general IT consulting, implementation of business applications, IT outsourcing, and IT infrastructure. IBS ITS employs approximately 2,700 people, including over 1,500 certified consultants and professionals. IBS ITS customers benefit from the right mix of technology skills, industry knowledge and best-of-breed applications implementation services. For more information on IBS IT Services, please visit http://www.ibs-company.com

About Luxoft

Luxoft, a member of the IBS Group is an emerging global leader in application and product engineering outsourcing services for enterprise IT organizations and software vendors. Luxoft builds lasting partnerships with its clients, such as Boeing, IBM, Harman, Avaya, Alstom, Sabre and other global leaders, based on the culture of engineering excellence, innovation, and deep domain expertise. Luxoft offers global delivery capability through its network of state-of-the-art delivery centers in North America, Central & Eastern Europe, and Asia. Luxoft`s customers benefit from the right mix of technology skills, industry knowledge, best-of-breed processes and methodologies, and a choice of engagement models.

For more information on IBS Group, please visit http://www.ibsgr.com or contact us:

    Investor Contact:                          Media Contact:
    Dmitry Ivanov                              Dmitry Muzichenko
    Investor Relations Director                PR Director
    tel: +7(495)967-8000                       tel: +7(495)967-8000
    fax: +7(495)967-8099                       fax: +7(495)967-8099
    dvivanov@ibs.ru                            dmuzicenko@ibs.ru