OREANDA-NEWS. On 29 April 2008 was announced, that ARMADA had been ranked among Russia's top 30 IT companies by the Expert magazine.

Analysts of Expert have acknowledged the ARMADA Group as Russia's third largest software developer in terms of revenue for 2007. In the consolidated rating of IT companies, ARMADA came 24th.

Commenting on the rating, CEO of OAO ARMADA Alexei Kuzovkin said: “ARMADA’s leadership in software development was conditioned by our focus on high-margin IT market sectors. The company’s strategic goal is to expand the total market share and to strengthen position in the Software Development and the IT Services sectors, boasting the highest growth potential.”

In 2007, ARMADA’s revenue surged 62% reaching \\\\$130.5m, which was due to both organic growth and a successful mergers and acquisitions policy. The company funded these acquisitions with the money raised at an IPO, which took place in July 2007. The consolidation of new assets helped to enlarge the holding’s client base by 60%. Last year, revenue streams from ARMADA’s priority business areas increased 300% (IT Services) and 51% (Software Development and Implementation).

ARMADA has already gained recognition from the business community. It was awarded for the development of an automated public procurement system for the government of St. Petersburg. The Russian Union of Industrialists and Entrepreneurs (RSPP) gave ARMADA the title of the Best Issuer among Innovative and Growth Companies, while the CNews magazine named ARMADA the IT Company of the Year 2007.