CORRECTION FROM SOURCE: Grid Dynamics Launches its First India Operations in Hyderabad

Key Takeaways:

• Grid Dynamics opens operations in Hyderabad, India, a hotbed of top-tier engineering talent and a robust business center for hyperscale technology providers and financial services companies
• The company plans to hire 1,000 new employees in India by the end of 2022
• Hyderabad is an ideal location with a concentration of skilled talent, modern collaborative workspaces, and easy access to data and platform engineering specialists for Fortune-1000 clients
• Grid Dynamics will establish forums such as Women Leaders in Technology to encourage diversity and a concentration of prominent women engineers and data scientists

SAN RAMON, CA / ACCESSWIRE / May 11, 2022 / Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) (Grid Dynamics), a leader in enterprise-level digital transformation services and solutions, announced today the opening of Grid Dynamics India as part of its ongoing global expansion efforts. Located in Hyderabad, a hub for engineering and business innovation in India, Grid Dynamics' newest operational center is expected to ultimately employ 1,000 top-tier engineering talent from the region by the end of 2022.

"Establishing Grid Dynamics India gives us access to an exponential, broadly diverse talent pool and enables our scaling efforts as a public company," said Leonard Livschitz, CEO of Grid Dynamics. "The Hyderabad location, with modern, class-A workspaces and a concentration of highly skilled and educated engineers will be a key contributor to our ongoing growth and help strengthen shareholder value. We are excited to further deepen our design thinking and agile development prowess, and ability to solve complex problems for Fortune 1000 customers."

Minister for IT, Mr. K. T. Rama Rao said that "Hyderabad continuing to attract multinational companies is a testimony to the able and stable government that Telangana has, the excellent infrastructure the city offers, and the availability of abundant talent. We thank Leonard Livschitz, the CEO for imposing the faith in us. We are sure that the Hyderabad center will exceed all its growth estimates and becomes a key driver for the growth globally."

Leonard Livschitz the CEO of Grid Dynamics along with Rajeev Sharma; CTO, Vadim Kozyrkov; SVP Delivery, Rahul Bindlish; VP Sales & Partnerships and Oksana Livschitz Director, Learning & Development met with Minister for IT and Industries, K. T. Rama Rao, Principal Secretary, Jayesh Ranjan, and Chief Relations Officer, Amarnath Reddy Atmakuri at the Pragathi Bhavan.

Hyderabad, India is a burgeoning market for technology innovation, with top-tier data and platform engineering talent and a large presence of leading technology providers and financial services companies. Grid Dynamics' aggressive hiring goals will be achieved through multiple paths, including Build-Operate-Transfer (BOT) deals with selected partners, direct hiring, and potential merger and acquisition activities. The company is focused on hiring reputable business and technology veterans in the region to serve as coaches and mentors to its workforce. Grid Dynamics India is also building forums and communities, such as Women Leaders in Technology, to support diversity and encourage participation by women STEM professionals.

"Given the prevalence of hyperscale technology providers in India, we plan to attract and retain the best and brightest talent through cutting edge technology projects, continuous educational initiatives, as well as career growth opportunities," said Livschitz. "We will also offer state of the art facilities at premier locations and foster an open culture of collaboration and mutual respect through global international participation and engagement."

Similar to its operations in Central & Eastern Europe, Grid Dynamics India workforce will have expertise across a number of technological areas, including:

• Platform engineering and agile development
• CI-CD/DevOps/MLOps
• Data engineering expertise across all major cloud platforms
• AI and Machine Learning
• UI/UX and design thinking
• Enterprise and solution architecture

About Grid Dynamics

Grid Dynamics (Nasdaq:GDYN) is a digital-native technology services provider that accelerates growth and bolsters competitive advantage for Fortune 1000 companies. Grid Dynamics provides digital transformation consulting and implementation services in omnichannel customer experience, big data analytics, search, artificial intelligence, cloud migration, and application modernization. Grid Dynamics achieves high speed-to-market, quality, and efficiency by using technology accelerators, an agile delivery culture, and its pool of global engineering talent. Founded in 2006, Grid Dynamics is headquartered in Silicon Valley with offices across the US, Mexico, UK, Netherlands, Mexico, Switzerland, India, and Central and Eastern Europe.

To learn more about Grid Dynamics, please visit www.griddynamics.com. Follow us on Facebook, Twitter, and LinkedIn.

Forward Looking Statements

This communication contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are not historical facts, and involve risks and uncertainties that could cause actual results of Grid Dynamics to differ materially from those expected and projected. These forward-looking statements can be identified by the use of forward-looking terminology, including the words "believes," "estimates," "anticipates," "expects," "intends," "plans," "may," "will," "potential," "projects," "predicts," "continue," or "should," or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include, without limitation, quotations and statements regarding the operations and growth of Grid Dynamics India.

These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside Grid Dynamics' control and are difficult to predict. Factors that may cause such differences include, but are not limited to, any factors limiting the growth of or employee hiring by Grid Dynamics India.

Grid Dynamics cautions that the foregoing list of factors is not exclusive. Grid Dynamics cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Grid Dynamics does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based. Further information about factors that could materially affect Grid Dynamics, including its results of operations and financial condition, is set forth under the "Risk Factors" section of the Company's annual report on Form 10-K filed March 3, 2022 and in other periodic filings Grid Dynamics makes with the SEC.

Media Contact:

Nancy MacGregor
Trier & Co. for Grid Dynamics
415.309.5185 | nancy@triercompany.com

SOURCE: Grid Dynamics