Luxoft, one of Russia’s leading providers of IT outsourcing services, has been named in one the most comprehensive and respected rankings of the EMEA region’s fastest-growing technology companies. Luxoft is the highest placed Russian software company in the Deloitte’s ‘EMEA Technology Fast 500’ list.

With 474 percent growth over the last five years, Luxoft is one of the top Russian companies in the top 500. The ranking is compiled by Deloitte, who has surveyed thousands of companies across 25 countries. This is the seventh annual survey that Deloitte has carried out. The average five-year revenue growth for all companies in the 2007 survey was 1,443 percent – the highest in the history of the rankings – demonstrating the fierce competition faced by companies trying to claim a place in the rankings.

Luxoft’s recognition comes in the wake of being named the sole recipient of the 2007 Frost & Sullivan Global Outsourcing Growth, Excellence & Customer Value Leadership Award and the world’s number one IT outsourcing product engineering vendor in the annual Black Book of Outsourcing as well as in the top three for emerging European vendors of the Global Services 100. Luxoft has also been awarded the National Outsourcing Association’s “Financial Outsourcing Project of the Year” and earned the “Best Employer of Russia” award from the Russian Chamber of Commerce and Industry.

Dmitry Loschinin, CEO of Luxoft, said, “’Technology Fast 500’ has long been considered a key indicator of trends and major developments in the IT industry. The rating includes fast-growing companies that are customer focused as well as quality and process oriented. The fact that Russian companies, including Luxoft, have fared so well is an indicator that the Russian IT industry has reached maturity and taken its place in the world’s economy.”