EPAM Systems
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| Type | Private |
|---|---|
| Industry | Software engineering Outsourcing |
| Founded | 1993 |
| Headquarters | Newtown, Pennsylvania, USA |
| Area served | Globally |
| Key people | Arkadiy Dobkin, CEO & President |
| Services | Software Product Development, Application Development, Enterprise Application Platforms, Application Testing, Application Maintenance and Support, ASM and Infrastructure Services |
| Employees | over 7,000 (end of 2011) |
| Divisions | B2BITS, Capital Markets Competency Center |
| Website | www.epam.com |
EPAM Systems is a USA provider of offshore software engineering outsourcing services with software development centers located in Hungary, Russia, Belarus, Ukraine, and Kazakhstan. The company maintains European headquarters in Budapest, Hungary, with support and delivery operations in Frankfurt, Germany, Stockholm, Sweden, Zurich, Switzerland, and London, UK. EPAM provides software application and product development, re-engineering, implementation, testing, maintenance and support, as well as ASM and infrastructure services.
Contents |
[edit] Technology Focus
[edit] History
EPAM Systems was founded in 1993 in Princeton, NJ, by two school mates: Arkadiy Dobkin[1], who emigrated to the US in 1991 and Leo Lozner from Minsk, Belarus.
Originally, the company name was an acronym (EPAm) defined as "Effective Programming for America". With time, having expanded its reach beyond the US boundaries, the company adopted its present name - EPAM Systems.
In the early 90s Arkadiy Dobkin decided to employ the available software engineering pool from Eastern Europe, and Russia[2] in particular, known for their strong educational traditions especially in mathematics and science intensive fields, a legacy of the Soviet-era military and aerospace industries.[3][4] Thus Dobkin gradually went into building business relationships with US technology executives, while Lozner was in charge of the infrastructure development and management of the offshore software development teams.
In the making period the company was confronted with a number of obstacles:
- In the beginning of 90s the business relations between the US and Russia as well as other former Soviet bloc countries were still shadowed by the political confrontation. The collaborative business environment was slow to materialize.
- The India-based software companies had taken an early start[5], had a large amount of English speaking population and were supported with governmental programs[6] proactively, which enabled them to dominate the market[7]
The first major success came in 1995 when EPAM started to work on a sales force automation system development for Colgate. Further it was implemented in Colgate’s offices in 25 countries all over the world. The project was noticed by SAP AG and EPAM was contracted for development of a system prototype to be presented at the annual SAP conference in 1996. Later on EPAM was involved with SAP's Netweaver software while it was still in the process of development.[8]
As many other global IT companies, EPAM was adversely affected with the downturn of 2002 in U.S. technology stocks. The company had to work very hard to bring in new clients, but was able to accomplish that and replaced most of the lost business the next year.[9]
In 2004 EPAM completed the merger deal with Fathom Technology [10], a Budapest-based software engineering firm, and in 2006 with Vested Development Inc., a Russian offshore software development services provider.[11]. In 2008 EPAM acquired B2BITS Corp., provider of solutions and consulting services to the Capital Markets. [12]. In 2010 in pursuit to strengthen it Business Information service offering EPAM acquired Instant Information, a leading provider of cloud based information management and discovery services. [13]
The launch of the new client facing locations in UK (2006), Germany (2006), Sweden (2008) and delivery centers across Ukraine (2005) and Russia (2004-2006) significantly accelerated the company's growth in staff and revenues[14] triggering its inclusion in major industry ratings.[15][16][17][18]
Despite many analysts are common in their view that Eastern European IT services providers are unlikely to rival India in size, they express opinion that such companies may appeal to enterprises seeking specific IT skills and refer to the increasing market share of Central and Eastern Europe in offshore IT outsourcing services market.[19]
In June 2011, EPAM filed with the SEC for an initial public offering.[20]
On Feb 7, 2012 EPAM sold 6 million shares at $12 each in its IPO. It had expected to sell 7.4 million shares at $16 to $18 apiece. [21]
[edit] References
- ^ 2006 Top 25 Consultants; Consulting Magazine, Retrieved 2006-05-01
- ^ Global Sourcing: Destination Russia; Baker & McKenzie, Retrieved 2006-02-01
- ^ A Renaissance For Russian Science; BusinessWeek, Retrieved 2004-08-09
- ^ To Russia with Love; TheDeal.com, Retrieved 2006-03-22
- ^ Global Sourcing: Destination India: Baker & McKenzie, Retrieved 2006-04-01
- ^ Department of Information Technology, Ministry of Communications and Information Technology, Government of India, Retrieved 2006-01-22
- ^ The place to be; Economist.com, Retrieved 2004-11-11
- ^ Eastern Europe's Software Solution; BusinessWeek, Retrieved 2006-12-11
- ^ The Politics of Outsourcing; InformationWeek, Retrieved 2002-09-02
- ^ EPAM Systems website, Retrieved 2004-03-17
- ^ Global Services Magazine. Blogs, Retrieved 2006-09-21
- ^ EPAM Systems website, Retrieved 2008-04-03
- ^ EPAM Systems website, Retrieved 2010-09-21
- ^ Hoover's World Companies Database
- ^ CRN's 2010 VARBusiness 500
- ^ International Association of Outsourcing Professionals' 2011 Global Outsourcing 100
- ^ The 2010 Global Services 100 Companies
- ^ The 2007 Top 50 Best Managed Global Outsourcing Vendors
- ^ IT offshoring: It's not just for India anymore; Computerworld, Retrieved 2006-12-13
- ^ "EPAM Systems files for a $100 million IPO". Renaissance Capital. 10 June 2011. http://www.renaissancecapital.com/ipohome/news/EPAM-Systems-files-for-a-$100-million-IPO-9776.html. Retrieved 10 June 2011.
- ^ EPAM downsizes IPO to $12, prices below range-underwriter
[edit] External links
- Outsourcing companies
- Software companies based in Pennsylvania
- Software companies of Belarus
- Software companies of Ukraine
- Software companies of Russia
- Software companies of Hungary
- Software companies of Germany
- Software companies of the United Kingdom
- Software companies of Sweden
- Companies of Kazakhstan
- Companies based in Pennsylvania
- Companies established in 1993
