Consulting Companies Distance Learning Industry

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					New Acquisition Expands IBS Product Portfolio for Education

Moscow – March 3, 2008 – IBS, the leader in the IT and consulting market, announces the
purchase of 51 per cent of Learnware Company Limited, one of Russia’s leading developers of
systems for distance learning and the vendor of HyperMethod brand software products and

This deal is a logical step forward based on the relationship between the two companies in a
number of projects of building distance learning systems for Russian higher educa tion
institutions. The new acquisition complements the IBS product portfolio by adding state-of-the-
art e-learning systems.

HyperMethod brand products are highly valued in the learning systems market and regarded as
being high quality, in line with the current IT trends, user-friendly and feature-rich. eLearning
Server and eAuthor CBT, the company’s core products, have been recognized by experts of
eLearning World magazine as the best in Russia.

The HyperMethod line of distance learning products includes:

      eLearning Server – a distance learning system providing the capability for remote
       training, retraining and further professional training for a broad range of users over the
       Internet. Distance learning reduces the cost of training and boosts availability of quality
       education services to students regardless of their location.
      eAuthor CBT – a set of tools that enable teachers, trainers, training center staff,
       developers and authors of training materials to produce distance courses, tests and
      Assessment Tools – a module that provides automation of core processes of staff
       management, planning and holding appraisals, and reviewing results.
      eLearning CMS – a structured warehouse used for managing processes of developing,
       searching for and using various training materials.

According to expert assessments, the Russian market for e-learning (distance learning) systems
is growing at an annual pace of 40-50 per cent. The target segments of that market are higher
and secondary professional education institutions and corporate customers (big companies and
holding structures). Both segments have good prospects as a large number of innovation -
oriented education institutions now plan to build distance learning systems as part of efforts to
develop their training processes. Big companies and holding structures, the other segment,
show a growing interest in setting up corporate distance training. This segment is poised to
benefit from the Corporate University HyperMethod brand solutions package offering. This
most recent unrivalled training and appraisal management system will also be included in the
IBS product portfolio.

According to the terms of the deal, Learnware Company Limited will continue to have
independent operations under the HyperMethod IBS brand.

According to Sergey Matsotsky, General Director of IBS, “This deal is in line with the IBS
development strategy of further growth and strategic acquisitions of niche companies that are
focused on new technology practices. IBS already has a good deal of experience of IT
implementation in education, including implementation of distance learning systems. This deal
will enable us to expand the integrated package of offerings for higher education institutions
and corporate customers by adding one of the most demanded solutions; it will also enable us
to be more efficient in rolling out the experience we already have and make distance learning
programs more popular and wide spread in Russia, which is particularly important ”.

Profiles of the companies

Learnware Company Limited is Russia’s leading vendor of software and solutions for
distance learning and e-learning, staff development and appraisal, authoring e-learning courses,
e-tests and e-training events.

Customers of Learnware Company Limited are over 300 entities within and beyond Russia
including universities, corporate training centers, retail chains, banks, defense enterprises and
government entities.

For more information on the company please visit

IBS is Russia’s leading player in the IT and consulting market. It was formed through the
merger of IBS and Borlas Consulting Group. It is part of IBS Group Holding Limited, along with
Luxoft and Depo Computers. Its core lines of business are management consulting, business
applications implementation, IT outsourcing and IT infrastructure. IBS headcount exceeds 3400
employees including over 1500 certified consultants. 84 of Russia’s top 100 companies are
customers of IBS. For more information on IBS please visit

For further information on IBS please contact Lada Scherbakova, PR Director, telephone: +7
495 967-8080, e-mail:

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