IBS Group and MAYKOR Announce Joint Cooperation
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IBS Group and MAYKOR Announce Joint Cooperation

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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.

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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.