ARMADA OAO (MICEX, RTS: ARMD) is a leading software developer and IT services provider in Russia. The company has been operating on the Russian IT market for over 15 years and focuses on high-margin solutions for the public sector and corporate clients. ARMADA’s revenue compound annual growth rate (CAGR) amounted to 29% in 2004-2010 whereas Russian IT market expanded at the rate of 8%.

ARMADA is distinguished by its high margin (EBITDA 11.2% of revenue $120m in 2010) and absence of long-term debt leverage; by focus on the promising software market (ARMADA is in top-5 software developers in Russia); by successful combination of organic growth with M&A (five IT companies congenial to ARMADA’s core product line have been acquired in 2006-2011); by sufficient resources and targets for new acquisitions.

ARMADA is the first Russian IT company that made IPO on MICEX and RTS (2007).

Website: www.armadaitgroup.com
Bloomberg, Reuters: ARMD RU