Luxoft, a DXC Technology Public Subsidiary, is represented in 21 countries with 17 000+ employees globally. Luxoft is headquartered in Zug, Switzerland.[1]

Luxoft
TypePublic Subsidiary
IndustrySoftware development
Founded2000 (2000) in Moscow, Russia
HeadquartersSwitzerland, Zug,
Zug
,
Switzerland
Area served
Worldwide
Key people
Dmitry Loschinin
(CEO)
Services
RevenueIncrease US$906.8 million (2018)[2]
Number of employees
17,000+
ParentDXC Technology (100%)
Websitewww.luxoft.com

History

In 2000, Luxoft was established under the direction of Dmitry Loschinin in Russia.[3] In 2008, it acquired ITC Networks in Bucharest.[4] 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.[5] 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.[6][7] Since 2018, Luxoft has been present in Italy (Turin), through the acquisition of the Objective Software site.[8]

In January 2019, DXC Technologie of Tyson Corner (Virginia) announced the acquisition of Luxoft Holding.[9] In June 2019, DXC Technology completed the 100% acquisition of Luxoft.[10] [11]

Luxoft enabled Switzerland's first Blockchain based e-vote platform with the City of Zug and Hochschule Luzern's Blockchain Lab.[12]

Luxoft announced it strongly supported Ukraine and condemned Russia and decided to leave the Russian market, accordingly in April 2022 the Russian business was sold to IBS Holding.[13]

Luxoft's largest offices are based in the US, Poland, Germany, India,[14] Ukraine, Singapore, and Serbia.[15]

Acquisitions

Company name Industry Country Date of acquisition Reference
Radius Inc. Internet of Things/Big data  USA 2014 [16]
Excelian Financial services  UK 2015 [17]
Symtavision GmbH Automotive - Timing Analysis  Germany 2016 [18]
Pelagicore AB Automotive  Sweden 2016 [19]
INSYS Group Healthcare/Telco  USA 2016 [20]
IntroPro TMT  Ukraine 2017 [21]
derivIT Financial services  Singapore 2017 [22]
UNAFORTIS AG Financial services   Switzerland 2017 [23]
Smashing Ideas Design & Innovation  USA 2018 [24]
Objective GmbH Automotive Software Development  Germany 2018 [25]
CMORE Automotive GmbH Automotive  Germany 2020 [26]

In January 2019, Luxoft was acquired by DXC Technology. According to the information from SEC database, DXC Technology now owns 83% of Luxoft shares. The eventual close of the deal was in June 2019.[27]

References

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