Adding to its strong list of industry accolades, Luxoft, a principal subsidiary of IBS Group and a leading global provider of advanced application and product development services, today announced it has been named Outsourcing Provider of the Year by the National Outsourcing Association. Additionally, the company’s Poland-based Development Center was honored with the Outsourcing Destination of the Year award.

Now in its eighth year, the National Outsourcing Association Awards is firmly established as the annual highlight in the outsourcing industry and attracts more than 500 participants. The program recognizes the efforts of companies and individuals who have demonstrated excellence in the outsourcing field and is combined with the NOA Sourcing Summit, making it a must-attend event for outsourcing professionals across all business sectors.

Luxoft was selected as the Outsourcing Provider of the Year due to its unparalleled technical proficiency, global delivery capability, deep domain expertise, and focus on innovation. The judges felt that Luxoft’s submission showed excellent depth in all key areas of successful outsourcing, along with copious good examples of corporate social responsibility across all of its collaborations.

In addition, Luxoft Poland was selected as the Outsourcing Destination of the Year. Luxoft successfully demonstrated the region’s growing potential in the area of application and product development services based on country’s deep pool of highly-skilled IT engineers with multi-language capabilities, strategic location relative to major European cities and the region’s economic strength. The judges felt that the entry from Luxoft was extremely strong and demonstrated that Poland has remained price competitive with the required labor skills.

Following on its commitment to delivering the best mix of resources, expertise and delivery options to customers worldwide, Luxoft opened its Poland operations in 2010.  Luxoft Poland specializes in solutions for the finance, travel and logistics industries and currently serves global financial services and large multinational logistics corporations.

The 2011 National Outsourcing Association Award distinction comes on the heels of Luxoft’s selection as Outsourcing Provider of the Year 2011 and Luxoft Ukraine’s recognition as the Outsourcing Destination of the Year by the European Outsourcing Association.

“At Luxoft, we put great focus on evolving our company and services to keep up with the world of rapidly-changing technologies – a world where progress and innovation win. It is a great honor to have our efforts recognized by such an esteemed industry organization as NOA,”

said Dmitry Loschinin, President & CEO, Luxoft.

About Luxoft

Luxoft, a principal subsidiary of IBS Group, is a provider of advanced application and software engineering outsourcing services for global and regional enterprises.  Luxoft builds partnerships with its clients, such as Boeing, IBM, Deutsche Bank, UBS, Harman, Avaya, Alstom, Sabre, based on the culture of engineering excellence, innovation, and deep domain expertise. Luxoft offers international 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, proprietary processes and methodologies, and a choice of engagement models.

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 7,631 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. For more information on IBS Group, please visit http://www.ibs.ru/.