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November 23, 2016updated 04 Apr 2017 1:20pm

UBS inks three-year strategic vendor deal with Luxoft

Swiss banking giant UBS has signed a three-year strategic vendor contract with software development company Luxoft.

By Verdict Staff

Swiss banking giant UBS has signed a three-year strategic vendor contract with software development company Luxoft.

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The agreement has a minimum target spend of $300m or $100m a year on average, and Luxoft will have strategic vendor status for UBS IT during the entire term.

The strategic framework includes business and technology consulting for regulatory compliance and new digital transformation in the areas of trading, finance, accounting, regulatory and others.

Luxoft president and CEO Dmitry Loschinin said: “We’re helping UBS leverage new innovative technologies and processes such as cloud, big data and data analytics, machine learning to optimize their business and transform the way they engage with customers.

“We are proud to be a trusted partner for UBS, assisting them in simplification of their IT infrastructure, continuous performance improvement, as well as shifting to a mutually beneficial new age output- and outcome based managed services model.”

UBS CIO Michael Dargan said: “Luxoft has been a trusted vendor for UBS for nearly a decade. We are confident in their deep understanding of the financial services industry and end-to-end solution implementation skills and thus Luxoft’s ability to assist us in the global transformation process.”

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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