Luxoft Acquires Software Outsourcing Provider ITC Networks
tmcnet.com     Jul 23, 2008            

By Anshu Shrivastava TMCnet Contributing Editor Luxoft, a provider of high-end application and product development services, today said that it has acquired Bucharest-based ITC Networks. ITC Networks is software outsourcing provider, specializing in telecommunications industry. The combined company is expected to have approximately more than 3000 employees worldwide and an annual revenue run rate of over $150 million. Luxoft believes that this latest deal strengthens its expertise in the telecom industry, and also expands its client portfolio with prominent companies such as Nortel Networks, Avaya, Trapeze Networks and others. “This acquisition is another step in Luxofts growth and strengthening of the company’s global presence,” said Dmitry Loschinin, president and CEO at Luxoft. He also said that the tremendous telecoms... [read full story]                    


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