IBS Group Consolidates Full Control Over its IT Services Segment

Feb 16, 2012, 06:36 ET from IBS Group Holding Ltd

RAMSEY, Isle of Man, February 16, 2012 /PRNewswire/ --

IBS Group has completed an acquisition of 14.09% shares in the IT services segment, consolidating its full control. IBS is a leading provider of IT Services in Russia, with 7% market share and a strategic focus on business application implementation, where it holds 18% of the market. Its core line of business is complex project implementation in IT services and IT consulting for major Russian and international corporations and the public sector, including 39 of TOP-50 Russian companies. The company builds and secures long-term customer relations based on its outstanding engineering background, innovation and deep industry expertise.

Commenting on the transaction, the Group's President Anatoly Karachinsky said: "Streamlined corporate structure and buy-out of a minority shareholder helps maximise the IT Services segment's return for shareholders, simplify planning and budgeting and further prioritise our business development strategies."

Dmitry Ivanov
Investor Relations Director
IBS Group
tel: +7-495-967-8000
fax: +7-495-967-8099
cel: +7-916-618-4034

SOURCE IBS Group Holding Ltd