OREANDA-NEWS. On 21 April 2008 was announced, that ARMADA was named the IT Company of the Year for launching the first IPO among Russian IT companies on MICEX and RTS. The accolade was received at the annual CNews Awards 2008 ceremony.

ARMADA’s IPO was held on July 31st, 2007. The share placement was extremely successful on the back of high investors’ demand, which resulted in nearly ten times oversubscription of the issue. Funds raised during the IPO were spent on acquisitions and business development. “We are very pleased to receive this award, which proves our status of a dynamically developing IT holding seeking to achieve leadership in all areas of its business,” ARMADA’s CEO Alexei Kuzovkin said.

CNews Awards honor key achievements on the Russian IT market. In 2008, the event took place the second time. CNews Awards distinguish not only the best companies and professionals, but also the most outstanding IT projects. Winners are determined by experts voting online. These experts include government representatives, chief executives of leading Russian and foreign IT companies as well as the largest consumers of information technology. This year, the voting procedure was controlled by Ernst&Young auditing firm. The number of applications submitted to the organizing committee doubled compared to the previous year reaching 500 bids. The ceremony, which took place on April 17th 2008, was attended by more than 300 guests. 1C and Parallels were also awarded in the IT Company of the Year nomination.