DataArt Announces Revenue Growth, Other Year-End Results

DataArt, a high-end software outsourcing company, announced year-end results, reporting 50% revenue growth for 2005, which amounted to 300% growth for the last three years.

Other important milestones included formation of DataArt Finance, a dedicated financial technology group within the company, and signing several key clients in the financial sector, including a top five U.K. bank. The company expanded its network of technology partners, and increased development resource pool to 700 available consultants.

DataArt established relationships with 33 new clients, maintaining 90% client retention rate, and 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.

DataArt was featured in a Business Week cover story, which listed the company among 15 Emerging Outsourcing Players worldwide and as one of the four emerging players to watch from Eastern Europe, based on the Gartner rating. A proprietary SME Global Project Management methodology is currently in the works, and will be presented at The Outsourcing World Summit in Florida later this month.

"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."

About DataArt

DataArt is a leading provider of high-end software outsourcing services for SMEs, specializing in enterprise application development, system integration and business automation tools, with industry-specific software expertise in financial, telecom and media sectors. Headquartered in New York City, DataArt runs state-of-the-art R&D center in St. Petersburg, Russia, and maintains offices in San Francisco, Jacksonville, FL, Chapel Hill, NC and London, UK.