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News Release

Sep 7, 2010

Auriga on Russian market: 2009-2010 breakthrough years

Though traditionally perceived and positioned as an outsourcing R&D services provider oriented to the Western market, Auriga has been delivering software development services for Russian clients as well. Over the recent years, with the overall progress and strengthening of Russian economy, the percentage of Russian companies in Auriga customer list and the share of revenues brought by projects delivered for Russian market have shown considerable growth. It is estimated that the revenue from Russian market has gone up 6 times by 2010, compared to the 2005 figures, and the number of Russian companies in the client list increased from only 2 in 2005 to 20 in 2010.

Even now we can see that the last year has been a real breakthrough for Auriga, with amount of Russian customers increasing by 50% in 2009FY and bringing 25% revenues of the planned amount for the whole financial year in just four months in 2010 (April-July).

On the whole, this fact corresponds with the overall Russian IT market dynamics, with expected steady growth from 12 bln USD in 2009 to 24 bln USD in 2013 (predictions by Uralsib bank).

In the local Russian outsourcing market, Auriga’s interest is focused on the two main program lines - Product Development (PD) and Enterprise Automation(EA). The PD program is assigned to really dynamic young companies operating on such fast-paced markets as mobile software, e-commerce, smart financial tools, web portals & social networking. This distinct accent on small and research-intensive projects is a part of Auriga overall focus on start-up companies, which was described in our last article. The EA program line is addressed to clients from Financial and High-Tech domain verticals: leading Russian banks, system integration and high-tech companies.

“It is a very exiting and demanding task to work with recognized market leaders - brand names, known for their stability and cutting edge products. But with equal zeal we engage in projects for enthusiastic companies, who are strongly motivated and highly competitive despite their small size. Besides financial revenues, our Russian clients bring us challenge, hard work, and inspiration,”

Gennadiy Mahov, Auriga Business Development Director

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