Software Company Luxoft Makes its 10th Acquisition, an US Innovation Consultant

Software Company Luxoft Makes its 10th Acquisition, an US Innovation Consultant

Luxoft, a software development company originally founded in Russia and now based in Zurich, acquired Smashing Ideas, a digital innovation agency, for an undisclosed amount. As a result, the Swiss company will increase its digital research, strategy, and design capabilities by supporting its Transformation arm, Luxoft Digital. The deal marks Luxoft’s 10th acquisition.

For almost a decade, Smashing Ideas was owned by Penguin Random House, the world’s largest trade-book publisher. Established in 1996, Smashing Ideas has specialized in creating connected smart products, apps, websites, and content management systems for boosting customer engagement. Thanks to their trademarked process, Motivational UX™, the company has received more than 60 awards.

Initially headquartered in Moscow, Luxoft now operates in more than 20 countries on 5 continents and employs close to 13,000 people. The IT service giant is listed on the New York Stock Exchange (NYSE: LXFT). Its offerings include strategic consulting, custom software development, and digital solution engineering.

The deal is of great strategic importance for Luxoft, as the industry is taking steps towards collaboration among technology, design, and strategy. Smashing Ideas is expected to bring capabilities which will enhance user experience, improve results and ensure market share gains.

Dmitry Loschinin, CEO and President of Luxoft commented on the acquisition: “Our commitment to helping revolutionize the technology offerings of our clients is more evident than ever with our acquisition of Smashing Ideas. Luxoft prides itself on being a value-added provider that is focused on technical strategy and implementation”.

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