Luxoft acquires Ukrainian software development company IntroPro
Earlier this week Luxoft, a NYSE-listed provider of software development services and innovative solutions and a part of Russia’s IBS Group, announced the acquisition of IntroPro. The details of the transaction have not been disclosed.
Established in 2008, IntroPro is an engineering consultancy that employs development teams in Ukraine to serve essentially clients in North America. Its expertise covers consulting, architectural design, development as well as quality assurance services for enterprise systems and embedded systems (devices) software development.
With nearly 500 engineers, this service provider generates more than 90% of its revenue from the TV, media, and entertainment industry.
“As the telecom and media industries have been heavily exposed to digital transformations, IntroPro has helped its clients focused migrate content delivery to multiple web-based channels through dynamic and agile modern software development methodologies,” stated Luxoft.
Targeting cable and satellite providers
Luxoft underlined that the offerings of the two companies are “highly complementary around legacy and next gen embedded software development services for cloud-enabled Set-Top-Boxes and other content delivery devices.”
Luxoft expects to “deepen its vertical expertise and widen current offering for the wireless and cable/satellite providers” – an audience that the company has been actively targeting for the last few years.
According to recent data, Ukraine has around 100,000 IT professionals — the largest number in Central and Eastern Europe, putting aside Russia. Its IT engineering work force is expected to double to over 200,000 by 2020.
The export volume of Ukraine’s software development and IT services reached at least $2.5 billion in 2015, showing double-digit growth year after year, says an industry report by Ukraine Digital News. The US market is the main destination with an estimated 80% volume of exported services.