A Moscow-founded firm that provides software development and
IT outsourcing told CNBC it is working to minimize its exposure to its
home market.
Originally a Moscow-based start-up, Luxoft's Chief Financial Officer, Roman Yakushkin, said it had drastically altered its global operations in recent years.
"If you look at our client base, we have very limited exposure to Russian clients...only 7 percent of revenues come from Russian clients," he told CNBC Tuesday. "It was definitely to our benefit."
Luxoft, which is headquartered in Switzerland, has clients including the likes of Boeing, IBM, Deutsche Bank, UBS, and Ford.
Yakushkin said the company's global business model helped it to de-risk from the geopolitical tensions currently playing out in Ukraine and Russia.
The majority of the company's clients are based in either North America or Western Europe, he added, with around 90 percent of revenues coming from the U.S., the U.K. or Germany.
He added that Luxoft had "significantly" increased its presence
in Eastern Europe, name checking Romania, Bulgaria and Poland. The company has also relocated "critical people" away from Russia, according to Yakushkin.
"The goal for us is to reduce the dependency on any single location to just 25 percent," he said.
Originally a Moscow-based start-up, Luxoft's Chief Financial Officer, Roman Yakushkin, said it had drastically altered its global operations in recent years."If you look at our client base, we have very limited exposure to Russian clients...only 7 percent of revenues come from Russian clients," he told CNBC Tuesday. "It was definitely to our benefit."
Luxoft, which is headquartered in Switzerland, has clients including the likes of Boeing, IBM, Deutsche Bank, UBS, and Ford.
Yakushkin said the company's global business model helped it to de-risk from the geopolitical tensions currently playing out in Ukraine and Russia.
The majority of the company's clients are based in either North America or Western Europe, he added, with around 90 percent of revenues coming from the U.S., the U.K. or Germany.
He added that Luxoft had "significantly" increased its presence
in Eastern Europe, name checking Romania, Bulgaria and Poland. The company has also relocated "critical people" away from Russia, according to Yakushkin.
"The goal for us is to reduce the dependency on any single location to just 25 percent," he said.
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