22 Apr 2022 14:04

Luxoft's Russian business returning to IBS

MOSCOW. April 22 (Interfax) - Luxoft Professional LLC, Luxoft's main legal entity in Russia, is now owned by Anatoly Karachinsky's IBS IT group, according to information in the Unified State Registry of Legal Entities (USRLE).

According to the documents, on April 20, Cyprus-based Luxoft International transferred 100% of the Russian legal entity to IBS IT Services LLC and IBS LLC, with the former obtaining a 99% stake and the latter acquiring the remaining 1% stake.

"Luxoft is transferring the Russian business segment to the IBS group of companies. Two legal entities, Luxoft Professional LLC/Luxoft Professional and ANO DPO Luxoft Training Center, have been transferred as part of the agreement," an IBS representative told Interfax.

IBS was previously Luxoft's largest shareholder, having sold its stake to U.S.-based DXC Technology in 2019.