NTR Lab Sells Its Start-Up Crossss to Focus Entirely on the US Software Development Market
Distinguished software development company NTR Lab is leaving no stone unturned in their efforts to expand operations in the United States. The company has just sold one of their start-ups Crossss to concentrate entirely on the promising American software development market.
Washougal, WA -- (ReleaseWire) -- 07/05/2016 --NTR Lab, a noted international software development company with offices in USA, Russia and Ukraine, has just announced the acquisition of their start-up Crossss, providing Big Data and conversion optimization services for Russian e-commerce market, to a local competitor named LeadHit. The company sources have also revealed that this decision has been taken by the organisation in order to prioritise their ambitious expansion plans in the US software development market.
Founded in 2000, NTR Lab is known to deliver efficient software product development solutions. In addition to managing multiple development centers for their customers, they have also completed hundreds of software product development projects around the world. Over the past couple of years, the company has been in the rapid expansion mode, growing at about 40% YoY rate, with the development of state-of–the-art software products for technology start-ups and corporations.
The US market promises to be a lucrative one for NTR Lab because this market has always suffered from the lack of qualified software developers. Many US-based start-ups in the current funding environment are not able to ramp up the software development teams fast enough because of the steep costs. NTR Lab expects to fit the bill as they have already been involved in turning ideas into successful software-enabled businesses for many high-profile corporations and start-ups, including Skype and Intel.
Talking about the company's decision to concentrate on the US market at the cost of one of their start-ups, the CEO of NTR Lab Nick Mikhailovsky stated, "We have shifted the direction of our expansion efforts towards the US market since the slump of the Russian currency in Dec 2014. Having successfully completed several hundreds of software development projects for start-ups and corporations in the US and UK, we were much more confident about the expansion of NTR Lab in the USA market rather than introducing Crossss to a new market. The rapid growth of NTR indicates that we were correct in our assumptions, and as we had several proposals for Crossss acquisition, we have decided to sell it and concentrate on the NTR Lab business"
More about NTR Lab and their service offerings can be found at http://ntrlab.com/
About NTR Lab
NTR Lab is a distinguished software development company that has been turning ideas into software for the last sixteen years. Co-founders Nick Mikhailovsky and Anton Malkov started NTR Lab after launching one of the world's largest EFT systems for Central Bank of Russia. Their first projects as NTR Lab were for Russian Standard Bank and ASP-db. Today, the company has three offices in the US, Russia, and Ukraine.
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