Sergey Matsotskiy

Sergey Matsotskiy
File:Sergey-Matsotskiy.jpeg File:Sergey-Matsotskiy.jpeg
Born	February 25, 1962
🏳️ Nationality	Russian
💼 Occupation	Entrepreneur, Business Executive
Known for	Co-founding IBS and Luxoft

Sergey Matsotsky (born February 25, 1962) is a Russian entrepreneur, co-founder of IBS and Luxoft, and a prominent figure in the IT industry. He played a key role in the development of large-scale IT projects and the expansion of the IT services market in the CIS region. Sergey has also been involved in innovative educational initiatives and is currently focused on investing in emerging technologies such as AI, big data, and open-source projects.

Early professional years

Sergey graduated from a secondary school with an in-depth study of mathematics, computer science, and physics, and then obtained the degree in applied mathematics. At that time, the institute that Sergey graduated from not only had a very strong department of applied mathematics, but also allowed students to deal with what is today called "information technology" and participate in complex real-life projects. Prior to 1990 Sergey worked as an engineer and the head of the department at the USSR Ministry for construction of oil and gas enterprises. Sergey was a system programmer and led the development of a number of complex programs. In 1990, Sergey began his business career as the head of the commercial department of the JV Intermicro, which focused on sales of IT and printing equipment. "This experience turned out to be very useful," he notes. "I realized how not to do business."

IBS

In 1992, Sergey co-founded IBS. IBS specialized in complex large-scale IT projects. From 1992 to 1997, Sergey served as an Executive Director of IBS, and then as CEO and Chairman of IBS Board. In 1997, the company raised $31 million in investments from Citigroup and AIG, planning to launch an IPO in 2001. This plan was postponed due to the 2000-2001 dot-com crisis. In 2005, the company successfully conducted an IPO on the Frankfurt Stock Exchange, receiving $113 million for a 33% stake. In January 2012, Matsotsky stepped down as CEO of the company to focus on strategic development. Under the leadership of Sergey Matsotsky, IBS became one of the leading system integrators and providers of IT infrastructure on the CIS market. IBS group offered to its clients IT solutions, consulting services, public and private cloud services, PaaS, IaaS, and SaaS.

Luxoft

In 2000, IBS, in order to diversify its business, established Luxoft, a separate business structure for software development, which soon became one of the world's largest software developers serving Boeing, Deutsche Bank, IBM, the US Department of Energy, as well as hundreds of other international customers. Luxoft became a public company in 2013, listing $555 million in shares on the New York Stock Exchange. By the end of the 2010s, Luxoft became a major IT service provider with 42 offices in 21 countries, which took part in digital transformation projects for companies in the financial, energy, telecommunications, aviation, and automotive industries. On January 7, 2019, US IT services provider DXC Technology announced the acquisition for $2 billion of Luxoft Holding, a subsidiary of IBS Group Holding. More on the deal here: DXC Technology Completes Acquisition of Leading Digital Innovator Luxoft | Luxoft News.

Innovative education

In 2007, Sergey led the IBS project to launch a unique master's program for IT specialists at the Institute for Physics and Technology. The two giants - business and educational - joined forces to give students practice-oriented training: at that time, that was an innovative and quite unique approach. In addition, IBS fully funded the program. A similar program was launched at the University of Science and Technology.

Starting Sergey’s own business

On April 13, 2020, Sergey parted ways with IBS to further develop businesses on his own.

"It happens that people part after a longer period. There are simply different priorities, different views on what would be more correct, more useful and more interesting to do further," Sergey Matsotsky told TAdviser

Sergey co-founded a new IT holding and gradually built various lines of business, including, among others, automation of financial management, development of technological platforms, building analytical systems, upgrading data storage solutions, and system integration.

Current interests

Sergey is enthusiastic about open source, AI, and big data projects. Sergey is investing in educational projects and several technological start-ups at various, primarily fast-growing markets. At times, Sergey acts as an expert to facilitate development and expansion of technology-based businesses.

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