IBS Group and MAYKOR Announce Joint Cooperation

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• Publié par: ibs-group-holding-limited-and-maykor-group
• Nombre de lectures: 16
• Langue: English

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IBS Group and MAYKOR Announce Joint

Cooperation

PR Newswire

RAMSEY, The Isle of Man, July 4, 2012

RAMSEY, The Isle of Man,

July 4, 2012

/PRNewswire/ --

Please refer to relevant legal information at the end of the document

IBS Group, a leading software development and IT services provider in Central

and

Eastern Europe

, announces today start of joint cooperation with MAYKOR, a

Russian federal group focused on servicing and outsourcing IT and engineer

systems. IBS Group and MAYKOR plan to work together to broaden the range of

services that companies can offer to IBS Group clients.

IBS Group subsidiary, IBS IT Services, now holds a 5% equity stake in MAYKOR;

and MAYKOR Group now owns Expertek outright; previously, the company was

owned entirely by IBS IT Services. For IBS, the transaction represents an

opportunity to further concentrate on the group's core competencies

(implementation of Management Information Systems and development of

large-scale infrastructure solutions). MAYKOR's acquisition of Expertek means

even higher capacity, competence while providing for development, and

marketing services of scalable solutions for retail chains and petrol stations, as

well as providing niche services in retail software-hardware systems.

Anatoly Karachinsky, President of IBS Group

, commented on the move,

saying:

"We are delighted to announce the start of our cooperation with

MAYKOR, a Russian federal company focused on providing on-the-ground

outsourcing and IT services to the retail sector. This cooperation will help us to

enhance our client offering, as it will enable us both to focus on our core

competencies and to provide clients with a broader range of complementary,

high-quality services. The transaction should also create value for our

shareholders, as it's the latest step in our strategy to streamline our domestic

business and to focus the provision of complex IT services and solutions

through our Management Information Systems and Infrastructure Solutions

business lines. We also see potential growth in the value of our stake in

MAYKOR."

"The Expertek brand has a sound foothold in this niche market. We plan to

further develop our new subsidiary's position in this market by harmonising

Expertek's resources with MAYKOR's existing structure,"

said

Sergey Sulgin,

President of MAYKOR Group

.

"Throughout 2012, MAYKOR has seen rising

volumes and an expanding geography of client contracts in the retail sector,

mainly through retail chains and petrol stations across Russia. Developing this

competence is one of MAYKOR's strategic goals. We see this as an opportunity

to unlock the potential we see from bringing Expertek into our group - both in

terms of competencies and also diversification of services. We also see

significant value in attracting a new wave of skilled personnel. Our level of

experience and understanding of effective management, when applied

alongside our existing resources and our ambitious growth strategy, will be the

key to unlocking Expertek's potential and taking it to a new level."

About IBS Group Holding Limited

IBS Group is a leading software development and IT services provider in Central

and

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 has business operations in

Russia

,

Ukraine

,

Romania

,

Poland

,

Germany

,

Switzerland

, the UK, the

USA

,

Vietnam

and

Singapore

. IBS Group employs more than 8,000 people worldwide. 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).

About MAYKOR Group

The MAYKOR group ("Service Holding Company LLC") is the biggest group of

companies in the Russian service and outsourcing market, offering a full range

of services for IT equipment, engineering systems and business applications.

MAYKOR's mission is efficient maintenance and development of the

infrastructure for large and medium-sized businesses.

MAYKOR Group consists of NST and CRT Service, IT market players since 2005

and 2007, respectively. With our own nation-wide network of 82 branches and

400 local offices, MAYKOR is a one-stop-shop service provider. A staff of more

than 2,500 certified engineers.

Among MAYKOR's clients are more than 800 companies, including national

chains of federal significance in all sectors of the economy. MAYKOR's valuable

assets include a unique competence center, advanced specialized training

programs for technical staff, a developed logistics infrastructure, an automated

service tracking and control system, and an ISO-compliant quality management

system.

About Expertek IBS

Expertek IBS, a subsidiary of IBS IT Services, established in 2007. The company

focuses on practice of solutions and services for retail business. The key

competence of Expertek IBS is development and promotion of roll-out solutions

for retail businesses and gas station chains and providing integrated services in

the field of retail hardware and software. The core competitive advantages of

Eхpertek IBS are thoroughly worked through solutions that are promptly

implemented and, most importantly, allow decreasing the customer's

implementation costs due to availability of a ready-made proven solution.

Disclaimer

The information contained in this press release is not for publication,

distribution or release, directly or indirectly, in any jurisdiction where such

publication, disclosure or release would be unlawful. This press release does not

constitute an offer for the sale of securities in the United States of America,

Canada, Australia, Japan or any other jurisdiction in which an offer would be

subject to legal restrictions.