EPAM Systems

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EPAM Systems
Public
Traded asNYSEEPAM
Russell 1000 Index component
IndustrySoftware engineering
Founded1993
Headquarters,
United States
Area served
Globally
Key people
Arkadiy Dobkin, CEO & President

Elaina Shekhter, Chief Marketing Officer, SVP
Balazs Fejes, Co-Head Global Business, EVP
Boris Shnayder, Co-Head Global Business, SVP
Sergey Yezhkov, Co-Head Global Business, SVP
Jason Harman, Co-Head Global Business, SVP
Jason Peterson, Chief Financial Officer, SVP & Treasurer
Victor Dvorkin, Head Global Delivery, SVP
Yuriy Goliyad, Head of Global Operations, SVP
Larry Solomon, Chief People Officer, SVP
Ed Rockwell, General Counsel, SVP

Philip Storm, Chief Compliance Officer, SVP
ServicesSoftware product development, digital platform engineering, application development, enterprise application platforms, application testing, application maintenance and support, ASM and infrastructure services
RevenueIncrease US$ 1.84 billion (FY'18)[1]
Number of employees
30,200 (FY 2018)[1]
Websitewww.epam.com

EPAM Systems, Inc., also known as EPAM, is a global provider of software engineering and IT consulting services headquartered in Newtown, Pennsylvania, United States. The company has software development centers and branch offices in North America, Europe, Asia and Australia.

History[edit]

Early years and IPO[edit]

The company was founded as EPAM by Belarus natives Arkadiy Dobkin in Princeton, New Jersey, and Leo Lozner in Minsk, Belarus in 1993.[2] It incorporated as EPAM Systems on December 18, 2002.[3] The company has since grown to approximately 30,100 employees, as of March 2019.[4][1]

EPAM initially stood for "Effective Programming for America", though the company simply uses the acronym in all its marketing and information materials.

On January 24, 2012, EPAM announced the launch of an IPO on the New York Stock Exchange under the ticker EPAM.[5] This is the first IPO that comes from the outsourcing industry in Eastern Europe.[6]

Product launches[edit]

In 2018, EPAM launched InfoNgen 7.0 , an "actionable insight engine" that delivers customized content from over 200,000 web sources,[7] and Telescope AI, an AI-enabled platform that helps businesses manage their IT operations.[8]

Recent Deals[edit]

In February 2019, EPAM announced that it became the lead investor for the GO Philly Fund, Ben Franklin Technology Partners’ new blockchain-enabled regional venture fund that is seeking investments in seed and early-stage tech-focused firms primarily based in the Greater-Philadelphia region.[9]

Acquisitions[edit]

Acquisition date Company Business Country References
May 21, 2019 test IO SaaS crowdtesting platform  USA [10]
November 1, 2018 TH_NK Digital strategy consulting  UK [11]
March 15, 2018 Continuum Global Innovation, service design, physical product development  USA [12]
June 22, 2016 Dextrys Software engineering, application development  USA [13]
November 16, 2015 Alliance Global Services Software product development, test automation  USA [14]
July 13, 2015 NavigationArts Digital strategy, experience design  USA [15]
October 31, 2014 Great Fridays Product and service design  UK [16]
June 6, 2014 GGA Software Services Scientific informatics services  USA [17]
April 30, 2014 Jointech Technology services  HKG [18]
March 20, 2014 Netsoft USA Healthcare technology consulting  USA [19]
December 18, 2012 Empathy Lab Digital strategy and omni-channel UXD  USA [20]
May 23, 2012 Thoughtcorp IT consultancy and software engineering  CAN [21]

References[edit]

  1. ^ a b c "EPAM Profile". Yahoo Finance. Retrieved 17 May 2019.
  2. ^ Jack Ewing (2006). "Eastern Europe's Software Solution". Bloomberg Businessweek. Retrieved 20 February 2014.
  3. ^ "EPAM SYSTEMS, INC. (EPAM) IPO". Nasdaq. Retrieved 20 February 2014.
  4. ^ "About page". EPAM.com. Retrieved 21 May 2019.
  5. ^ "HTP Resident Company EPAM Systems Commences Initial Public Offering of Common Stock". Hi-Tech Park Belarus. 2012. Retrieved 27 February 2014.
  6. ^ "First IPO of outsourcing industry in Eastern Europe: EPAM is going public". GoalEurope. 2012. Retrieved 27 February 2014.
  7. ^ "EPAM Launches InfoNgen™ 7.0, Using Machine Learning to Dramatically Improve Actionable Insights". EPAM Systems. 2018. Retrieved 21 May 2019.
  8. ^ "EPAM Wins 2019 Big Innovation Award for TelescopeAI™, an AI-Enabled Platform to Help Businesses Manage Their IT Operations". EPAM Systems. 2019. Retrieved 21 May 2019.
  9. ^ "EPAM Leads Investment in $50 Million Regional GO Philly Fund, a Blockchain-Enabled Venture Fund Operated by Ben Franklin Technology Partners". 2019. Retrieved 21 May 2019.
  10. ^ "EPAM Systems Acquires test IO". Vista Point Advisors. May 13, 2019. Retrieved June 7, 2019.
  11. ^ "EPAM Acquires TH_NK to Enhance Digital Consulting Services and Solutions". PR NEWSWIRE. 1 November 2018. Retrieved 13 November 2018.
  12. ^ "EPAM Acquires Continuum, Expanding Global Innovation, Design and Physical Product Development Capabilities". GLOBE NEWSWIRE. 15 March 2018. Retrieved 30 May 2018.
  13. ^ "EPAM, global company with Belarusian roots, buys Dextrys from China". GoalEurope. 29 June 2016. Retrieved 7 September 2016.
  14. ^ Saia, Rick (November 16, 2015). "EPAM Systems Acquires Again, Scoops Up Alliance Global". CRN. Retrieved 24 November 2015.
  15. ^ "EPAM Boosts Digital Capabilities with NavigationArts Buy". Zacks Equity Research. July 14, 2015. Retrieved 24 November 2015.
  16. ^ "EPAM Acquires Great Fridays, Expands Product and Service Design Capabilities". Yahoo Finance. October 31, 2014. Retrieved 24 November 2015.
  17. ^ "EPAM Acquires GGA Software Services, Expands Healthcare & Life Sciences Service Offering". MarketWatch. June 6, 2014. Retrieved 24 November 2015.
  18. ^ "Deals Bring New Expertise To IT Services Provider Epam". Nasdaq. June 12, 2014. Retrieved 24 November 2015.
  19. ^ "EPAM Acquires Healthcare Technology Consulting Firm, Netsoft USA". Yahoo Finance. March 20, 2014. Retrieved 24 November 2015.
  20. ^ Joseph N. DiStefano (2012). "PhillyDeals: EPAM Systems buys Conshohocken's Empathy Lab". philly.com. Retrieved 27 February 2014.
  21. ^ "Recent Material Event". HotStocked. 2012. Retrieved 27 February 2014.