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DataArt Reports 2013 Year-End Results

February 24, 2014

DataArt, a custom software development firm serving select industries, announced a record revenue of $40M for 2013, a 25 percent annual growth, with over 90 new client wins.

In a release on February 19, the Company reported that its client portfolio remained diversified, with the top ten clients accounting for just 37 percent of total revenue. Forty-three out of 45 top clients in 2012 continued to work with DataArt in 2013, attesting to the company's industry expertise, stability and excellent management. The client list is comprised in equal measure of large, medium, small and start-up businesses (28 percent, 27 percent, 25 percent and 19 percent respectively).

Innovative use of technologies and finely-tailored client solutions resulted in the Travel & Hospitality practice doubling its revenue in the U.S. and UK, with its executives speaking at several high-level industry conferences. The Media practice grew by 90 percent, and the Financial Services practice, the largest in the company, had a steady growth of 28 percent, servicing asset management firms and broker dealers and launching two reporting applications - Free Form PF and AIFMD Reporting Tool. The Healthcare & Life Sciences practice has seen the largest investment in R&D and human resources, which resulted in key client wins in the past few months. DeviceHive, a cloud-based M2M framework invented by DataArt developers, has been used in a number of client projects, and its co- inventors became sought-after speakers at key industry events, including JavaOne.

"DataArt's record growth over the last year was accelerated by our industry experts' ability to create and build top notch solutions and thanks to expanding our existing client accounts," said Eugene Goland, President of DataArt. "In 2014, we look forward to continuing our rapid growth by investing heavily in our industry practices, as well as tailoring our services to better fit our clients' needs."

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