With its subsidiary Luxoft having been on the New York Stock Exchange for the last five years, IBS thinks the time is right to sell itself. It is looking for funds for expansion, including acquisitions. The company is currently targeting revenue growth of over 15% in the year ended 31 March 2018 from the year ended 31 March 2017
Svetlana Balanova, CEO of IBS IT Services: "IBS is a leader in the Russian market for IT services, one of the most dynamic sectors of the economy. The Russian IT sector has delivered strong growth in the past years, and IBS's own revenue growth, which has significantly outpaced the market, underlines the company's successful turnaround as a business. We believe that the recovery of the Russian economy, as well as increased digitalization and modernization, will provide a strong platform for further growth.
"The IT sector's share of Russia's overall economy is still significantly below developed countries, in large part due to lower penetration of business automation solutions. Today this is changing, and Russian companies are investing significantly in IT services, a trend we expect to continue and intensify over the years to come. Other key growth drivers of the IT services sector are the digital transformation of the economy, substantial IT investments by the Russian government and the continued development of new technologies.
"IBS has a clearly defined growth strategy and is well placed to take advantage of these positive industry trends. We are delighted to announce our intention to bring IBS to the public market, and to give investors an opportunity to participate in what we expect to be an exciting growth phase for the company."
IBS has long-term partnerships with major global technology vendors, including Avaya, Cisco, Dell EMC, Hewlett-Packard, Huawei, IBM, Lenovo, Microsoft, NetApp, Oracle and SAP.
With more than 3000 staff, it has delivery centres located in Moscow and other Russian regions, including Penza, Belgorod, Ulyanovsk, St Petersburg and Perm.
