Luxoft

Luxoft is a digital technology and software engineering services company that operates as a subsidiary of DXC Technology. The business was established in Russia in 2000 under the direction of Dmitry Loschinin and developed an international delivery model built around software development, engineering centers, and technology consulting. Its work has been associated with large enterprise clients and technically demanding industries, although the available reference material does not provide a complete current breakdown of its service portfolio or customer base. The company expanded beyond its original Russian base through a combination of organic development and acquisitions. In 2008, it acquired ITC Networks in Bucharest, Romania. It also established a development center in Kraków, Poland, in 2010, strengthening its European engineering footprint. By the time of the reference material, Luxoft was represented in 21 countries and had more than 17,000 employees globally, with significant operations in the United States, Poland, Germany, Bulgaria, India, Ukraine, Singapore, and Serbia, in addition to its headquarters in Zug, Switzerland. Luxoft became a publicly traded company in 2013 through an initial public offering on the New York Stock Exchange. The offering comprised 4.1 million ordinary shares priced at $17.00 per share. The listing gave the company access to public capital markets during a period of international expansion. Luxoft continued to broaden its European presence, including its presence in Italy through the acquisition of the Objective site in Turin in 2018. The company has also participated in technology demonstration and public-sector innovation projects. In 2018, Luxoft worked with the City of Zug and Hochschule Luzern's Blockchain Lab to enable Switzerland's first blockchain-based electronic voting platform. The project connected Luxoft's software capabilities with Zug's broader profile as a center for blockchain experimentation. In January 2019, DXC Technology announced an agreement to acquire Luxoft Holding. The transaction was completed in June 2019, when DXC acquired 100 percent of the company. Luxoft consequently became a DXC Technology subsidiary rather than an independent public company. The brand continued operating internationally within DXC's broader technology-services structure. Russia's invasion of Ukraine led to a major geographic and strategic change. Luxoft publicly expressed support for Ukraine and condemnation of Russia's actions, then decided to leave the Russian market. In April 2022, its Russian business was sold to IBS Holding. Luxoft therefore remains an active international technology-services brand, but its ownership, geographic footprint, and relationship with Russia changed substantially after the 2019 DXC acquisition and the 2022 exit from Russia.

Luxoft was established in 2000 in Russia under the direction of Dmitry Loschinin. From its beginning, the company developed as an international software engineering and technology-services business rather than as a consumer software brand. Its operating model relied on engineering talent and geographically distributed development centers serving enterprise technology requirements. The first major expansion cited in the reference material was the 2008 acquisition of ITC Networks in Bucharest. This gave Luxoft an established Romanian operation and reinforced its European delivery capabilities. In 2010, the company established a development center in Kraków, Poland, adding another important engineering location to its network. Luxoft entered the public markets in 2013, when it completed an initial public offering on the New York Stock Exchange. The offering involved 4.1 million ordinary shares priced at $17.00 each. The transaction marked a transition from a privately operated technology company to a publicly traded international services provider. The company continued expanding its geographical presence during the following years. It was present in Italy from 2018 through the acquisition of the Objective site in Turin. That same year, Luxoft collaborated with the City of Zug and Hochschule Luzern's Blockchain Lab on Switzerland's first blockchain-based electronic voting platform. The initiative demonstrated the company's involvement in applied emerging-technology projects as well as conventional enterprise software delivery. A decisive ownership change came in 2019. DXC Technology announced the acquisition of Luxoft Holding in January, and the transaction was completed in June. DXC acquired 100 percent of Luxoft, ending Luxoft's status as an independent public company and placing the brand within DXC's global technology-services group. According to the reference material, Luxoft subsequently maintained a presence in 21 countries and employed more than 17,000 people worldwide. Its headquarters are in Zug, Switzerland, while major offices and delivery operations have included locations in the United States, Poland, Germany, Bulgaria, India, Ukraine, Singapore, and Serbia. The Russian invasion of Ukraine produced another major change. Luxoft stated that it supported Ukraine and condemned Russia, then decided to leave the Russian market. In April 2022, the Russian business was sold to IBS Holding. This separated the active international Luxoft brand from its former Russian operations and reshaped the company's geographical profile. Luxoft remains an active DXC Technology subsidiary, although the supplied sources do not identify a current standalone chief executive, detailed current financial results, or a complete list of present-day offerings.

1. 2022Russian business sold to IBS Holding

   Following its decision to leave Russia after the invasion of Ukraine, Luxoft sells its Russian business to IBS Holding in April.

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2. 2019DXC Technology announces acquisition

   DXC Technology announces its agreement to acquire Luxoft Holding.

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3. 2019Luxoft becomes a wholly owned DXC subsidiary

   DXC Technology completes its acquisition of 100 percent of Luxoft.

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4. 2018Expansion into Italy

   Luxoft becomes present in Italy through the acquisition of the Objective site in Turin.

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5. 2018Blockchain-based electronic voting project in Zug

   Luxoft works with the City of Zug and Hochschule Luzern's Blockchain Lab to enable Switzerland's first blockchain-based e-voting platform.

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6. 2013New York Stock Exchange initial public offering

   Luxoft lists on the NYSE after offering 4.1 million ordinary shares at $17.00 per share.

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7. 2010Kraków development center opens

   Luxoft establishes a software development center in Kraków, Poland.

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8. 2008Acquisition of ITC Networks

   Luxoft acquires ITC Networks in Bucharest, expanding its Romanian and European delivery presence.

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9. 2000Luxoft is established in Russia

   Luxoft is established under the direction of Dmitry Loschinin.

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A global engineering-led technology services brand focused on complex software development and digital transformation work for enterprise clients.

• Custom software engineeringIT services

  Luxoft's core identity is as a software engineering and technology-services provider. Its global development centers support the creation, modernization, and maintenance of enterprise software and other technically complex systems. The supplied reference material does not specify individual branded software products.

• Digital technology and enterprise consultingConsulting and technology services

  The Luxoft brand is positioned around digital technology delivery for enterprise organizations. Its work combines engineering capacity with technology consulting and distributed delivery. Specific packaged consulting offerings are not identified in the supplied sources.

• Blockchain-based e-voting platform projectPublic-sector technology project2018

  In 2018, Luxoft worked with the City of Zug and Hochschule Luzern's Blockchain Lab on a blockchain-based electronic voting platform described in the reference material as Switzerland's first of its kind. This was a collaborative project rather than a clearly identified standalone commercial product.

• 2022Exit from the Russian marketStrategy

  Russia's invasion of Ukraine prompted Luxoft to express support for Ukraine and opposition to Russia's actions.

  What changed. Luxoft decided to leave Russia and sold its Russian business to IBS Holding in April 2022.

  Aftermath. The transaction removed Luxoft's Russian business from the company's international operating structure.

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• 2019Acquisition by DXC TechnologyM&A

  DXC Technology sought to acquire Luxoft Holding and integrate the company into its global technology-services group.

  What changed. DXC announced the transaction in January and completed the acquisition of 100 percent of Luxoft in June.

  Aftermath. Luxoft ceased to be an independent listed company and continued as a DXC Technology subsidiary.

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• 2013Public listing on the New York Stock ExchangeOther

  Luxoft pursued public-market financing while expanding its international technology-services operations.

  What changed. The company completed an IPO of 4.1 million ordinary shares at $17.00 per share.

  Aftermath. Luxoft operated as a public company until its acquisition by DXC Technology in 2019.

  IPO offering. 4.1 million ordinary shares offered at $17.00 per share (2013)

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• 2022Luxoft exits the Russian market after Russia's invasion of Ukraine

  Luxoft condemned Russia's invasion, expressed support for Ukraine, and sold its Russian business to IBS Holding in April 2022.

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• 2019DXC Technology announces acquisition of Luxoft Holding

  DXC Technology announced its planned acquisition of Luxoft Holding in January 2019.

  M&A
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• 2019DXC Technology completes acquisition of Luxoft

  The acquisition was completed in June 2019, making Luxoft a wholly owned DXC Technology subsidiary.

  M&A
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• 2013Luxoft lists on the New York Stock Exchange

  Luxoft completed an initial public offering of 4.1 million ordinary shares at $17.00 per share.

  Other
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1. Luxoft