YEREVAN, NOVEMBER 16, ARMENPRES. Russian “Kommersant” newspaper referred to IT sector development in Armenia. Mentioning that due to complicated economic and political situation a number of venture investors have ceased their vigorous activities in Russia and increased their interest in other post-Soviet states. The periodical links this factor with the boom of start-ups in Armenia which are mainly focused on world market.

“Integrien Corporation established its office in Yerevan in 2008. The team managed to attract talented scientists which created a software security program and sold it in the USA. But this plan did not work very well and soon the company engaged only in coding.  Integrien managed to create a number of successful projects. In 2010 American VMware corporation showed interest in the activities of the company which it soon acquired for 100 million USD. The history of the company is the proof of Armenia’s great potential in IT sector”, “Armenpress” reports, “Kommersant” wrote.  

Vice President of ABBY Company Aram Pakhchyan told the periodical that the annual growth rate of IT sector surpassed the annual economic growth of the country by 10-15% during the last 10 years.