Reksoft CEO elected to Russoft chair

Reksoft CEO Alexander Egorov has been elected Chairman of the Board of the Russian Association of Software Developers (Russoft).

The Russoft Software Development Forum took place in St. Petersburg over June 10 and 11. The event saw Mr. Egorov's election at the Associations annual members' meeting.

Russoft is a non-commercial partnership that includes more than 50 software development companies with offices in Russia. The Association is committed to the advance of the Russian IT industry both domestically and abroad.

Russoft lobbies for the interests of IT companies in government agencies, gathers statistics and publishes reports on the status of the Russian IT market, and conducts promotional campaigns in Russia and elsewhere.

At its most recent annual conference, Russoft president Valentin Makarov described the Association's main activities over the past year, which include attracting new members, conducting overseas marketing initiatives, and assisting with legislation on behalf of the IT and telecommunications industries. He also unveiled some preliminary data from Russoft annual research on the Russian IT industry.

The export of Russian IT services has seen substantial progress in the last year having reached revenues of more than $2.5m. Though the industry growth rate has slowed in comparison with previous years, Russia has established itself in the list of leading outsourcing destinations, having been mentioned as such in IDC and other analyst agencies whitepapers.

"The current economic situation is stimulating demand for outsourcing services and offers numerous prospects for Russia," says Mr. Egorov. "Russoft is going to do its best to help IT companies promote themselves on the international market".

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About Reksoft (http://www.reksoft.com):

Reksoft is an expert offshore software development services provider with a key focus on the telecommunications, hospitality & travel, and financial services sectors. Reksoft has been delivering software outsourcing solutions for the past 18 years, winning a loyal customer base of leading enterprises including Aastra Telecom, Airwide Solutions, Dirol Cadbury, First Data International, Francotyp-Postalia, Fujitsu Siemens Computers, Mazda, Philip Morris, Springer Business+Science Media, Swisscom Mobile, TietoEnator, T-Systems. Currently, the company has 400 employees and completed the FY2008 with revenues of $27.5m.