OREANDA-NEWS. On October 27, 2008 IBA Group announced its inclusion on the Software Magazine’s Software 500 ranking, now in its 26th year. IBA Group applied for the first time and was ranked 260, reported the press-centre of IBA.

The Software 500 is a revenue-based ranking of the world’s largest software and services suppliers targeting medium to large enterprises, their IT professionals, software developers and business managers involved in software and services purchasing.

The ranking is based on total worldwide software and services revenue for 2007. This includes revenues from software licenses, maintenance and support, training and software-related services and consulting. Suppliers are not ranked on their total corporate revenue, since many, like IBA Group, have other lines of business.

“The 2008 Software 500 results show that revenue growth in the software and services industry was healthy, with total Software 500 revenue of US451.8 billion worldwide for 2007 representing 14.7% growth from the previous year,” says John P Desmond, editor of Software Magazine and Softwaremag.com “We have added over 100 new companies to the list this year.”

“The Software 500 helps CIOs, senior IT managers and IT staff research create the short list of business partners. It is a quick reference of vendor viability,” Desmond adds.

Sergei Levteev, IBA Group President, comments: “We are proud to be among the world’s largest software and services suppliers. IBA Group has been showing sustainable growth since its creation 15 years ago and is poised to continue strong organic growth delivering more and more value to its clients”.