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DataArt Announces 2012 Year-End Results; Reports Record Revenue and Global Expansion

DataArt, a custom software development company that builds advanced solutions for select industries, today announced 2012 year-end results, including a 27 percent increase in revenue, expansion to ten global locations and landmark new client wins across North America and Europe.

DataArt’s Financial Services remains the largest practice, accounting for 25% of revenue, followed by Media & Online Services. Travel & Hospitality and Clean Tech & Energy practices have also performed exceptionally well, tripling and doubling in revenue respectively. The majority of accounts are mid-size enterprise companies, with three quarters of top 30 clients’ revenues ranging between $100 Million and $5 Billion. Globally, 51 new clients have been signed in 2012.

Servicing customers who require tailored service offerings and delivery mechanisms, often underserved by ‘traditional’ outsourcing vendors, DataArt maintains a very stable business and solid client relationships, with more than 60% of clients receiving services over a period of three years or more.

“DataArt’s continued growth even in today’s challenging market conditions is an incredible testament to our proven global team, long-term client relationships and passion for developing innovative enterprise and mobile applications for the most discerning firms. We’re excited to continue working in partnership with our new and existing customers to create the custom solutions they need to compete and generate real value with little risk,” said Eugene Goland, President of DataArt.

In addition to exceptional client work, DataArt continued to invest in its own R&D, bringing to life DeviceHive, an open-source M2M communication network designed to function as the missing link in a network of connected devices. Through its cloud-based API (Application Programming Interface), management portal and set of components, including protocols, and open-source libraries, devices can be controlled remotely, regardless of the network topology.

DataArt has partnered with key technology providers including Streambase, Imagine Software, Aqumin, WWWeb Financial Group and GridGain, to give customers real-time data processing, in-depth data mining, 3D visualization and advanced analytics capabilities to manage growing data volumes.

The company has opened two new R&D centers in Ukraine, in the cities of Odessa and Dnipropetrovsk, bringing the total locations to ten and increasing the company global headcount to over 850 employees. To streamline communication and sharpen its differentiation as an expertise-based provider, DataArt re-launched its site, www.dataart.com, giving users additional transparency into what makes DataArt a partner of choice.

The company has been recognized by the prestigious Global Services 100 list for the fifth time, placed on the Inc. 5000 list of the fastest growing U.S. private companies for the third consecutive year, and once again voted the Best Employer in Ukraine.

About DataArt:

DataArt (www.dataart.com) is a custom software development company that builds advanced solutions for the financial services, healthcare, hospitality and other industries. Combining domain knowledge with offshore cost advantages and resource flexibility, DataArt develops industry-defining applications, helping clients optimize time-to-market and minimize software development risks in mission-critical systems. With an unrivaled talent pool of highly skilled software engineers in New York, London, Russia and Ukraine, DataArt provides the technical skill, accountability and industry knowledge needed to deliver custom applications on time and on budget. DataArt clients include Standard & Poor’s, Harmonic Fund Services, Ogilvy, artnet, Panasonic, Cancer Research, Charles River Laboratories, Betfair, Misys, leading asset management firms and three of the world’s top ten investment banks. @DataArt

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