Fort Lauderdale, Florida, January 23, 2015 - XBT Holding Ltd. announced the relocation of their headquarters from Cyprus to Luxembourg. The decision was determined by the favorable business conditions, steadily growing investments in ICT development, and facilitated equity funds.
Luxembourg is a familiar territory for the holding due to their 2012 acquisition of server.lu, the largest hosting provider in the country. XBT's investment in, and development of, server.lu has helped it become a major player in the sector, which in turn has brought invaluable experience and knowledge of the European markets. The decision to relocate their headquarters is based on that experience, and ties to several factors.
One of Luxembourg's main benefits is the ICT infrastructure, which the government is continuously developing. The country ranks 5th among 72 countries worldwide on the Broadband Leadership Table and is positioned in the top ten according to the ICT Development Index (IDI). The great results are partially influenced by a constantly increasing number of network-neutral datacenters, as well as the expansion and development of the Tier 4 hosting environment. Besides its excellent connectivity, The Grand Duchy maintains a redundant power system relying on three separate power grids (French, German and Belgian).
The investment opportunities and financial stability, Luxembourg offers and is known for, play a key role in attracting international businesses. A flexible revenue system and the newly adopted Anglo-Saxon style of limited-partnership, make for an ideal environment from which XBT to continue optimizing and expanding their equity funding campaign. Luxembourg's government is pro-active and has been showing continuous support towards businesses, solidifying the opinion that the current situation will not be short lived.
"Ever since we gained a foothold in Luxembourg, XBT's presence in Europe has been growing rapidly. We acknowledged the valuable IT resources the county has to offer and decided to relocate our headquarters," said Rajesh Kumar Mishra, CFO of XBT Holding Ltd. "Luxembourg's ICT infrastructure is ranked as one of the best in the world. Furthermore, we are certain that the vigorous development of the IT sector, backed by continuous influx of investments, will allow it to maintain its leading position in the future. As an additional benefit, Luxembourg not only provides easy access to equity funds but also simplifies the process of developing lasting B2B relationships."
Many countries in the European Union have recently shown signs of recovery, following the global financial crisis. Luxembourg, in the meantime, has hardly been influenced by it and continues to be politically and financially stable. On a side note, the Grand Duchy's workforce is extremely research oriented, with 7.6 researchers for every 1.000 workers, which is due to the ICT-oriented educational institutions in the region, such as the well-known Université de Luxembourg and Delft University of Technology. These and other factors make the country one of the world's largest business centers. XBT's decision to relocate their headquarters will surely enable them to benefit from the favorable environment and continue expanding their brand.