DataArt Announces Revenue Growth, Other Year-End Results

DataArt announced 2005 results. The company continued its growth, increasing last year's revenue by 50% which amounted to 300% for the last three years.

Other important milestones included formation of DataArt Finance, a dedicated financial technology group within the company; expanding the network of technology partners; increasing resource pool to 700 available consultants and resuming Econophysics Program, a joint educational program with St. Petersburg State University.

DataArt signed several key clients in the financial sector, including a top five U.K. bank, and established relationships with 33 new clients, maintaining 90% client retention rate. The company continued its global expansion, strengthening its presence in London, UK, and opening a new office in Jacksonville, FL. DataArt has joined several industry associations, including International Association of Outsourcing Professionals (IAOP), where it heads SME Global Sourcing Chapter. The company launched two outsourcing surveys, on SME and financial technology, and is developing SME Global Project Management methodology to be presented at The Outsourcing World Summit in Florida.

DataArt appeared in over 20 media publications, including a cover story in Business Week magazine, where it was listed among 15 Emerging Outsourcing Players worldwide and as one of the four emerging players to watch from Eastern Europe, based on the Gartner rating. "2005 was another important year of growth for DataArt, and we plan to continue our expansion, especially in the financial and telecom sectors," said Michael Zaitsev, DataArt's CEO. "We are also focused on building a strong network of industry partners, which is the key factor in our success."

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