IBS Group Member Awarded "IT Outsourcing Project of the Year" for its Partnership With Hotwire Inc.

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

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IBS Group, a leading software development and IT services provider in Central and Eastern Europe, announces that Luxoft, a member of the IBS Group and a global provider of advanced application and product development services, has been presented with the IT Outsourcing Project of the Year award for its work with Hotwire Inc. by the European Outsourcing Association (EOA).

The EOA awards honors best practices, innovators and leaders in the outsourcing industry. Luxoft's work with Hotwire was chosen based on the demonstrated excellence in helping the client-company to meet and exceed its business objectives. Together, Luxoft and Hotwire are working on development of a state-of-the-art back-end system featuring front end, internal portal for salespeople and suppliers, and new CMS.

Commenting on EOA Award, Dmitry Loschinin, Vice President of IBS Group, CEO of Luxoft said: "This award is a tribute to Hotwire as a partner and to our people, who made this success possible. We look forward to our continued partnership with Hotwire and to many more award-winning projects."

As a provider of Agile software  development services since 2004, Luxoft is one of the first European companies to recognize the potential of Agile methodology.  Luxoft helped Hotwire to switch its development from traditional waterfall methodology to Agile model and to quickly realize the benefits of Agile without a negative impact on product delivery or the business. As a result of partnering with Luxoft and switching over to Agile development model, Hotwire was able to speed up its time to market, reduce business risks, extend the delivery of business critical features, lower the development costs and increase its car business.

"Luxoft continues to demonstrate strong level of commitment and responsiveness as well as close alignment to our strategy and goals.  For over 6 years now Luxoft has been providing us with engineers who offer quality work and innovative ideas. Our success on a Hotwire Car Team is another example where the partnership has helped our business to move to the next level in product development and delivery. We are looking forward to continuing our collaboration and are going to engage additional Luxoft teams in 2012", said Roman Kaplun, Director of Engineering Services at Hotwire, Inc.

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 Luxoft Holding, Inc

Luxoft, a principal subsidiary of IBS Group, is a provider of advanced application and software engineering outsourcing services for global and regional enterprises. Luxoft builds partnerships with its clients, such as Boeing, IBM, Deutsche Bank, UBS, Harman, Avaya, Alstom, Sabre, based on the culture of engineering excellence, innovation, and deep domain expertise. Luxoft offers international delivery capability through its network of state-of-the-art delivery centers in North America, Eastern Europe, and Asia. Luxoft`s customers benefit from the right mix of technology skills, industry knowledge, proprietary processes and methodologies, and a choice of engagement models. For more information about Luxoft, please visit http://www.luxoft.com

About Hotwire

Hotwire.com is a leading discount travel site with low rates on airline tickets, hotel rooms, rental cars, cruises and vacation packages.  Launched in 2000, Hotwire negotiates deep discounts from its travel suppliers to help travelers book unsold airline seats, hotel rooms and rental cars.  Hotwire is an award-winning website and operating company of Expedia, Inc. CST# 2053390-50.  NST: 20003-0209.  For more information, visit http://www.hotwire.com. Hotwire sites operates in 8 countries worldwide: http://www.hotwire.com, http://www.hotwire.com/uk, http://www.hotwire.com/ie, http://www.hotwire.com/au, http://www.hotwire.com/nz, http://www.hotwire.com/se, http://www.hotwire.com/no and http://www.hotwire.com/dk.   In addition to Hotwire, The Hotwire Group of websites includes: http://www.hotwire.com, http://www.travel-ticker.com, http://www.carrentals.com.  

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.

For more information about IBS Group please visit http://www.ibsgr.com

SOURCE IBS Group Holding Limited