Luxoft, a member of IBS Group and a leading global provider of advanced application and product development services, today announced that it has been selected as a strategic software development partner by News360, a popular newsreader for use on smartphones, tablets and the Web. Since the beginning of the engagement, Luxoft has been instrumental in developing News360 user interfaces and ensuring newsreader compatibility with leading North American mobile device platforms.

News360 is a cross-platform newsreader that looks at the world’s top stories from every angle. The company recently announced the launch of News360 2.0, which introduced a Web-based version of its mobile application, a sophisticated content personalization feature, detailed story chronologies and sharing integrations with Google Plus and Evernote. The application, which is free for users, is now compatible with all leading mobile platforms including Android, Apple, RIM and Windows.

“Luxoft’s outstanding mobile development background and proven track record of successful global delivery made the company an obvious partner to help us meet our aggressive goals in North America,” said Roman Karachinsky, CEO, News360 USA. “In addition, we found the team’s ability to help us adapt to a hybrid Agile development approach extremely appealing, as it has given us the flexibility and continuous feedback needed to complete critical project phases quickly and with zero error.”

As part of the engagement, Luxoft was responsible for engineering the News360 interface architecture and developing various integration elements of its newsreader application for iPhone, iPad, Windows Phone 7 and BlackBerry Playbook devices. To deliver the high-quality services needed to help News360 expand its geographic market reach, Luxoft utilized its Center of Excellence (CoE), consisting of top mobile application development experts with high-end expertise that spans multiple platforms. To date, the CoE has helped Luxoft meet all deadlines while helping improve the user experience by enabling live links from any page element or action and adding a flexible system of creating personal news channels on the News360 app.

“We believe that the development of intelligent, innovative user interfaces and optimized usability are the key foundational elements for companies to thrive in the mobile market,”

said Dmitry Loschinin, president and CEO, Luxoft.

“Our extensive engineering talent, domain expertise and commitment to Agile development drive our ability to be nimble and work in tight timeframes. For example, these factors enabled Luxoft to develop the Windows Phone 7 version of News360 in less than one month.”

Luxoft helps companies meet their specific business needs by addressing the challenges associated with the evolving mobile landscape. Based on industry process quality frameworks, Luxoft’s application development approach uses rigorous, proven methodologies and leverages the company’s deep technological expertise across various mobile platforms. For more information on Luxoft’s mobile application development practice, please visit: http://www.luxoft.com/services/application/.

About Luxoft

Luxoft, a member of the IBS Group, is an emerging global leader in application and product engineering outsourcing services for enterprise IT organizations and software vendors. Luxoft builds lasting partnerships with its clients, such as Boeing, IBM, Harman, Avaya, Alstom, Sabre and other global leaders, based on the culture of engineering excellence, innovation, and deep domain expertise. Luxoft offers global 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, best-of-breed 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 www.ibsgr.com.

About News360

News360 is a popular newsreader for use on smartphones, tablets and the Web that presents a comprehensive look at the most important news of the day around the world, and the most important news of the day as it relates directly to you. The app analyzes more than 100,000 articles from 5,000 sources daily and ranks them according to quality, relevance and freshness. News360 uses the social cloud to build unique interest graphs for each user, helping them discover new content, sources, and interests. News360 is available for all major mobile platforms, including iPhone and iPad, Android Honeycomb tablets and Android smartphones, BlackBerry PlayBook, and Windows Phone 7 devices. News360 is privately held. For more information, visit www.news360.com.