Luxoft transferred its Russian business to the IBS Group. It belongs to one of the company's co-founders

Luxoft International transferred the entire Russian share of the business to the IBS IT group. It belongs to businessman Anton Karachinsky, who was one of the co-founders of Luxoft in 2000. Thus, Luxoft's Russian business is essentially returning to its parent company.

Thus, the Luxoft legal entity in the Russian Federation transferred 99% to LLC "Eros Ит services" and 1% to LLC "Eros", reports the Russian "Interfax". The transaction amount was not disclosed. Within its framework, two legal entities were transferred: Luxoft Professional and Luxoft Training.

Recall that in 2019, most of the shares of Luxoft (83%) were acquired by the American company DXC Technology. On March 4, it announced its withdrawal from the Russian market due to the war. The company also assured that Luxoft will not have any legal, operational, financial or any other ties with business in the Russian Federation.