NEW YORK--(BUSINESS WIRE)--Luxoft Holding, Inc (NYSE:LXFT), a leading provider of software development services and innovative IT solutions to a global client base, today announces the opening of its office in Penang, Malaysia as the Company continues to expand its global delivery platform within Asia Pacific (APAC) region. Luxoft has been granted Multimedia Super Corridor (MSC) Malaysia status from the Malaysia Digital Economic Corporation (MDEC), which provides a wide range of incentives, including fast tracking of expatriate relocations, tax incentives and operational support.
With three existing offices in APAC - Singapore, Sydney, and Ho Chi Minh City - Luxoft offers nearshore access to its senior IT talent for clients in that region along with the benefit of leveraging the entire ecosystem of the Company’s global delivery. Clients in Luxoft’s core industries, such as financial services, automotive, and telecom, will further benefit from Luxoft’s expanded nearshore delivery into Malaysia, with even more senior consultants working close to clients for higher efficiency, ease of communications and superior ROI.
“We are pleased to be granted MSC Malaysia status. Penang has an excellent combination of infrastructure, educational systems, government support and a desirable climate that appeals to our senior European engineers,” says Luxoft’s Vice President for Global Delivery, Dmitry Kushnir. “Malaysia offers a strong local talent pool that we believe will blend well into our recruitment process and ensure smooth onboarding process of new hires into the global Luxoft delivery system via our proprietary training programs."
The Penang office launch in APAC expands Luxoft’s total office count to 39, spread across 19 countries in multiple regions. The Company will continue adding global offices to support new business opportunities and to grow existing strong client relationships.
About Luxoft Holding, Inc.
Luxoft Holding, Inc (NYSE:LXFT) is a leading provider of software development services and innovative IT solutions to a global client base consisting primarily of large multinational corporations. Luxoft’s software development services consist of core and mission critical custom software development and support, product engineering and testing, and technology consulting. Luxoft’s solutions are based on its proprietary products and platforms that directly impact its clients’ business outcomes and efficiently deliver continuous innovation. The Company develops its solutions and delivers its services from 32 dedicated delivery centers worldwide. It has more than 12,000 employees across 39 offices in 19 countries in North America, Mexico, Western and Eastern Europe, Asia Pacific, and South Africa. Luxoft is incorporated in Tortola, British Virgin Islands, has its operating headquarters office in Zug, Switzerland and is listed on the New York Stock Exchange. For more information, please visit http://www.luxoft.com.
Forward-Looking Statements
This news release of Luxoft Holding, Inc (“Luxoft”) contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include information about possible or assumed future results of our business and financial condition, as well as the results of operations, liquidity, plans and objectives. In some cases, you can identify forward-looking statements by terminology such as “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “expect,” “predict,” “potential,” or the negative of these terms or other similar expressions. These statements are subject to, without limitation, the risk factors discussed under the heading “Risk Factors” in Luxoft’s Annual Report on Form 20-F for the year ended March 31, 2016 and other documents filed with or furnished to the Securities and Exchange Commission by Luxoft. Except as required by law, Luxoft undertakes no obligation to publicly update any forward-looking statements for any reason after the date of this news release whether as a result of new information, future events or otherwise.
