OREANDA-NEWS. April 28, 2011. ARMADA (MICEX, RTS: ARMD),is among Russia’s TOP-5 software developers in terms of revenue in 2010, according to annual ratings of Russian IT market players by Expert RA[1] rating agency and Kommersant Dengi[2] magazine.

Armada focuses on providing custom-made software and IT services to public and private companies and government agencies. The group is engaged in most large-scale government IT programs (Information Society, Electronic Government, National Software Platform, Healthcare Modernization, Reform of Public Utilities Sector, etc.) and the company is also a leading developer of Internet solutions for commercial firms, holding leadership positions in Russia in this segment[3].

In the general ratings of IT companies compiled by the publications, Armada ranks 24th. Both ratings measure IT companies in terms of their revenue, which is why the top places have been assigned to companies with a high proportion of hardware in their sales. None of Russia’s five largest IT companies is included in the TOP 5 leading software developers which is a priority segment for Armada.

"Russia’s IT market is not yet sufficiently consolidated, especially in the software segment. The revenue of top 10 companies accounts for a mere 14% of the segment’s revenue, while this figure amounts to 54% in the general rating. Armada plans to enhance its software operations by means of organic growth and mergers and acquisitions. Our acquisition targets include small software and service companies holding leading positions in their niche markets, having their own product and offering synergy with Armada," Alexey Kuzovkin, chairman of Armada group’s board of directors, said.