DataArt Announces 2011 Results; Record Revenue

DataArt announced 2011 results reporting record revenue, with 41 new client wins and 33% year-over-year revenue increase. DataArt has helped leading global companies adapt to evolving business demands and reap the benefits of critical business applications which increased productivity and reduced IT spend.

Financial Services and Healthcare practices were once again the top performing divisions of DataArt, contributing 35% and 15% respectively to overall company revenue. 15 new client wins in the financial technology sector validate the company’s industry expertise in the key areas of portfolio and risk management, derivatives and market data application development. Among DataArt’s new clients are some of the most innovative and well respected firms, including IPM, a leading European hedge fund, Ocado, the UK’s leading online supermarket and ThinkEco, a New York City-based company developing software energy-efficiency solutions for businesses and consumers.

To support market demands and enhance client communication, DataArt opened a state-of-the-art European headquarters in the Ukrainian capital Kiev, bringing the total company headcount to 700 in eight offices world-wide. DataArt’s business expertise, strong management and growth were recognized by prestigious industry organizations, including the 2011 Global Services 100 List and Inc. 5000 List of Fastest Growing Private U.S. Companies. DataArt was also voted the Best IT Employer in Ukraine for 2011. The year culminated with DataArt on the forefront of technology innovations, completing a roster of enterprise and mobile solutions while tapping into emerging trends and development channels such as cloud, Big Data and embedded technologies.

“DataArt’s continued growth validates the company’s strategy of providing bespoke software development services to the mid-size companies who value fast time-to-market, flexible engagement options and specialized domain expertise,” said Eugene Goland, President of DataArt. “We continue to see that this sector is underserved by both generic, “all things to all people” outsourcing providers who focus on building low cost ODCs, and the large-scale, “brand”-driven providers who tailor their best offerings to the very large clients.”