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Monday, September 15, 2014

BRIEF-IBS to swap own shares for Luxoft shares at 0.95 ratio, (NYSE: LXFT)

IBS Group Holding Ltd : * Proposes revision of exchange ratio to 0.95 shares in Luxoft Holding Inc for each GDR and certain shares in IBS Group Holding * Says also proposes revision of timetable of scheme of arrangement relating to

Luxoft Holding, Inc. is a provider of software development services and information technology (IT) solutions to a global client base consisting primarily of large multinational corporations. Shares of LXFT fell by 3.71% or $-1.28/share to $33.19. In the past year, the shares have traded as low as $24.09 and as high as $43.56. On average, 123070 shares of LXFT exchange hands on a given day and today's volume is recorded at 44987.