DataArt Announces 2007 Year-End Results

DataArt announced 2007 year-end results, reporting 73% overall revenue growth and 600% European revenue increase during its tenth year of operation.

While the majority of DataArt’s clients remain in the U.S., the drastic increase in annual revenue is mostly attributed to a six-time increase of European (UK) sales, which amounted to 25% of the overall revenue. DataArt signed 31 new clients in 2007, among them Cyrus Capital Partners, a New York based multi-strategy hedge fund; HedgeSpeed Technologies, an innovative provider of integrated hedge fund middle office solutions; and Betfair, the world’s biggest online betting company.

With the opening of two new offices, in the Ukrainian cities of Kharkov and Kherson, and further growth of offices in St. Petersburg and Voronezh, DataArt development force grew by 40%. A comprehensive advanced training program in finance, quantitative engineering and financial technology was established in all four development locations, to further deepen the company’s expertise in the capital markets.

DataArt received Microsoft Gold Certified Partner Status, the highest level of competence and expertise with Microsoft technologies, and marked over 1,500,000 billable hours since the company’s inception.

DataArt continues to be recognized by the industry for its achievements, and was named #4 Emerging Global Service Provider and #4 Emerging European Service Provider by CMP’s Global Services 100. In addition, it was selected to Global Sourcing 100 by International Association of Outsourcing Professionals for the second year in a row.

To celebrate a decade in business, DataArt staged St. Petersburg Dialogues Symposium, bringing together renowned international speakers from the IT industry.

“Strong growth in 2007 came from the recognition of our expertise in selected verticals by our existing and new clients,” said Eugene Goland, President of DataArt. “I’m proud of our team, for delivering the highest levels of customer satisfaction and for successfully overcoming organization challenges presented by such high growth rate.”