Deutsche Bank named Luxoft a strategic vendor partner in 2013 and gave it an award for the way it built its teams. That bank, along with UBS, Boeing, Harman, Avaya and AMD, made up much of Luxoft's business. The company wrote and ran complex software from 14 delivery centers, most of them in Russia, Ukraine, Romania and Poland. It sold 45.6 percent of its work to clients in Europe and 42 percent to North America.

Born Inside IBS

Luxoft started in Russia in 2000 under Dmitry Loschinin, who led it from the beginning. Its parent and largest shareholder was IBS Group, an Eastern European IT company founded in 1992. Luxoft opened a center in Krakow in 2010 and bought a firm in Bucharest in 2008. The bet was on engineers with deep industry knowledge, especially in finance. About 85 percent of its staff had more than five years of experience.

Sold to DXC

Luxoft sold shares at $17 in June 2013 and listed on the New York Stock Exchange as LXFT. On January 7, 2019, DXC Technology agreed to buy Luxoft for $59 a share in cash, about $2 billion. The deal closed in June 2019. In 2022, after Russia invaded Ukraine, Luxoft left the Russian market and sold its business there to IBS.

Cover: Portico with a Lantern, Follower of Canaletto. Art Institute of Chicago, public domain. Chosen for a lantern in a portico (lux, light).