OREANDA-NEWS. Armada OAO (MICEX-RTS: ARMD) has made it to the Top-10 of Russian high-tech companies in accordance with the rating TechUp-2013. The rating is organized by Russian Venture Company and Association of Innovative Regions of Russia together with Vnesheconombank and PwC.

"Only 50 innovation gazelle companies are listed in the TechUp-2013 rating. That is half as many as in previous year, which can be explained by a new, more rigorous selection process complying with international standards. This time, experts have taken into account innovation investment and R&D financing as a crucial factor. As a result, we have a selection of the best companies working on the development of new products, rather than using their previous projects," Expert magazine commented on the ranking process.

The leaders of the rating fall into three categories: largest companies (by revenue gained); fastest-growing companies (by revenue growth rate) and most innovative companies (by product technology level, its novelty, companies' intellectual property, as well as R&D and technological innovations expenses). Armada is ranked among Top-10 in terms of largest companies.

"The main focus of Armada's activities is software development and IT services delivery - the segments that are responsible for technological innovations," said Alexey Kuzovkin, Chairman of the Board of Directors of Armada OAO.