Reksoft Singled Out as an Example of a Flagship Software Outsourcing Company from Russia

Over the past month Reksoft has been repeatedly mentioned in research papers focusing on the Russian software outsourcing market.

AMR Research analytical alert summarizes on the latest findings on the size and capabilities of Russian software companies. The alert indicates almost 30 % annual growth of the Russian IT Services market, stronger economic situation in the country and a large number of high skilled technology experts engaged mostly in custom application development on .NET and Java as well as in Internet architectures. The offshoring market has gained attention from the customers both from Western Europe and North America and is expected to reach $1 bln. in 2005.

The report mentions Reksoft, with its 260+ headcount and vertical expertise in telecommunications, hospitality and financial services, among the 13 Russian premier IT services companies.

The Northern Dimension Research Centre from the Lappeenranta University of Technology issued a research paper IT Market Growth Centers in Russia: Moscow, St.Petersburg and Novosibirsk. The paper touches on the current trends in the Russian ICT industry and highlights the economical and political conditions that brought the ICT market to its current position. It also focuses on the main markets for and buyers of software products and services in Russia, the private and public sectors, as well as on actions taken by the Russian government to facilitate further development of the IT market.

The report takes a close-up look at the evolvement of the software development sector in various regions of Russia by studying the country's three biggest technology-centric cities: Moscow, St. Petersburg and Novosibirsk. Historically, the three cities have served as the research and development centers and housed a large number of scientific institutions. Currently, the three cities are recognized as the most advanced in Russia in terms of the number of resident software development companies.

Reksoft is proud to be mentioned as one of the four largest software outsourcing companies in St.Petersburg with pronounced ties in the Nordics.

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About Reksoft (www.reksoft.com)

Since 1991 Reksoft provides offshore software development services with a key focus on Telecommunications, Hospitality & Travel, and Finance sectors. Reksoft cross-industrial practices range from implementing ERP, CRM, and BI systems, to constructing B2B and B2C electronic market places. Reksoft quality system complies ISO 9001: 2000 standard whereas Reksoft information management practices are aligned with the requirements of ISO 17799. Currently the company counts 260 employees and is in an active growth phase. In November 2005, Reksoft agreed on direct equity investment worth 2 million dollars with Nordic venture fund "MartinsonTrigon".