Luxoft, a global provider of high-end application and product development services, today announced it has acquired Bucharest-headquartered ITC Networks (ITCN), a leading Romanian software outsourcing provider specializing in the telecommunications industry. The combined company will have more then 3000 employees worldwide and an annual revenue run rate of over $150 million.
The acquisition of ITC Networks, which follows Luxoft's April announcement of a new office opening in Vietnam, further expands the company's global footprint. ITC Networks' large scale delivery capability within the European Union, with its shared legal framework, ease of travel, and convenient time zones, makes Luxoft's service offerings even more compelling for the European clientele. The deal also strengthens Luxoft's expertise in the telecom industry, expanding its client portfolio with companies like Nortel Networks, Avaya, Trapeze Networks and others. In turn, existing ITC Networks clients will benefit from Luxoft's best-of-breed processes and methodologies, financial stability, global delivery locations, and economies of scale.
