EPAM Systems

Last updated
EPAM Systems, Inc.
Company type Public
Industry Software engineering
Founded1993;31 years ago (1993)
Headquarters
Newtown, Pennsylvania
,
U.S.
Area served
Globally
Key people
Arkadiy Dobkin (chairman, president & CEO)
Services
  • Software product development
  • digital platform engineering
  • application development
  • enterprise application platforms
  • application testing
  • application maintenance and support
  • ASM and infrastructure services
RevenueDecrease2.svg US$4.69 billion (2023)
Decrease2.svgUS$501 million (2023)
Decrease2.svgUS$417 million (2023)
Total assets Increase2.svgUS$4.35 billion (2023)
Total equity Increase2.svgUS$3.47 billion (2023)
Number of employees
65,149 (2024)
Website epam.com
Footnotes /references
[1]

EPAM Systems, Inc. is an American company that specializes in software engineering services, digital platform engineering, and digital product design, operating out of Newtown, Pennsylvania. EPAM is a founding member of the MACH Alliance.

Contents

History

Early years

In 1993, Arkadiy Dobkin and Leo Lozner founded EPAM, a global software engineering services company, in New Jersey, USA and Minsk, Belarus. [2]

In 2002, EPAM was ranked publicly for the first time as a fast-growing company by Deloitte & Touche. [3] In 2012, EPAM was listed on New York Stock Exchange under the moniker EPAM. [4] [5]

Timeline

In 2004, EPAM acquired Fathom Technology, a software development services company based in Budapest, Hungary, expanding its offshore services beyond North America. [6]

In 2006, EPAM secured an equity investment from Siguler Guff to fund its competitive growth plans. [7]

In 2006, EPAM acquired VDI, a software development services company with delivery centers in Russia, which expanded the company’s presence in the CIS region. [8] That year, EPAM CEO Arkadiy Dobkin was named one of the Top 25 Most Influential Consultants of the Year by Consulting Magazine. [9]

In late 2012, EPAM made two acquisitions, Thoughtcorp, which expanded its service offerings in Agile, business intelligence and mobile, [10] and Empathy Lab, which established a digital engagement practice focusing on customer experience, design and eCommerce. [11]

EPAM made two acquisitions in 2018 to expand its service offerings: Continuum (now EPAM Continuum) [12] and TH_NK [13] to add consulting capabilities and develop its digital and service design practices. Also that year, EPAM launched InfoNgen®, a text analytics and sentiment analysis enterprise software product that uses artificial intelligence. [14]

The company also productized TelescopeAI®, an artificial intelligence-based platform for IT operations and workforce management, which won a 2019 Big Innovation Award presented by the Business Intelligence Group. [15]

In 2019, EPAM joined the Blockchain in Transport Alliance (BiTA). [16] That year, the company launched EPAM Continuum, its service for business, experience and technology consulting.

The company also launched EPAM SolutionsHub, a catalogue of its software products, accelerators and open source platforms. As part of its SolutionsHub launch, EPAM also released the Open Source Contributor Index (OSCI), a tool that ranks the top open-source contributors by a commercial organization. [17]

In August 2021, EPAM expanded its presence in Latin America through the acquisition of Colombia-based S4N, [18] a software development services firm specializing in the design and development of modern software products and enterprise platforms. [19]

In July 2021, EPAM acquired CORE SE, [20] a professional service provider specializing in IT strategy and technology-driven transformations, to further expand its Western European footprint in the DACH region.

In May 2021, EPAM acquired Just-BI, [21] a Netherlands-based consultancy specializing in SAP S/4HANA and enterprise data and analytics program management.

EPAM acquired Israel-based cybersecurity services provider White-Hat Ltd. in May 2021. [22]

In April 2021, EPAM acquired PolSource, [23] a Salesforce Consulting Partner with more than 350 Salesforce specialists across the Americas and Europe.

In December 2021, EPAM joined the S&P 500 American market index. [24]

In May 2021, EPAM Systems ranked 1,804 on the Forbes Global 2000 list. [25]

In 2022, EPAM announced several strategic acquisitions and investments, including a majority stake in U.S. software firm Contino and a minority stake in U.K. AI-driven data analytics firm Noodle.io. [26]

Russian invasion of Ukraine

During the 2022 Russian invasion of Ukraine, tensions between the firm's 14,000 Ukrainian employees and the 18,000 Belarusian and Russian staff sparked dissension when the CEO Arkadiy Dobkin refrained from publicly condemning Russia in a statement on LinkedIn and rejected calls to assist the Ukrainian military. [27] According to Forbes , Dobkin defended his statement, which didn't mention Putin, Russia or his native Belarus, saying the company could not use its infrastructure for cyberattacks and had to protect EPAM employees in Russia and Belarus from political reprisals that are common in those countries. The company paid Ukrainian staff a $1,000 emergency grant and supported Ukrainian relief efforts, including the installation of the Starlink satellite systems in Ukraine. [28] Also, the company launched the EPAM Ukraine Assistance Fund to help Ukrainians and made a US$100 million humanitarian aid commitment. [29] In April 2022, EPAM decided to stop operating in Russia while continuing working in Belarus. [30] [31] [32]

Acquisitions

Company AcquiredCountryDateBusiness
Fathom Technology [6] HungaryMarch 2004Software Engineering
VDI [8] US, RussiaSeptember 2006Software Development
B2BITS Corp [33] USApril 2008 Capital Markets & Financial Services
Plus Micro [34] Kazakhstan June 2008 Information technology and services
Rodmon Systems [35] US, BelarusMay 2009Consulting services and technology solutions
Instant Information [36] September 2010
Empathy Lab [11] USDecember 2012Digital Strategy & Omnichannel Experience Design
Thoughtcorp [10] CanadaMay 2012 Telecommunications, Agile, Business Intelligence & Mobile
Netsoft USA, Inc. [37] USMarch 2014Healthcare Consulting
Jointech [38] China, Hong Kong, Singapore April 2014 Investment Banking, Wealth & Asset Management
GGA Software Services LLC [39] USJune 2014 Life Sciences & Healthcare
Great Fridays [40] US, UKOctober 2014Product & Service Design
Signus Labs2015Gaming
Alliance Global Services [41] US, IndiaNovember 2015Product Development Services & Test Automation
NavigationArts [42] USJuly 2015Digital Strategy & Experience Design
Dextrys [43] US, ChinaJune 2016Software engineering and application services
InfomatiX [44] HungarySeptember 2016Big data and analytics
Tahzoo/Adnovate [45] Netherlands2017Digital strategy and experience design
WekaUK, NZ2017Life sciences and R&D
Continuum [12] US, Italy, ChinaMarch 2018Digital Strategy, Experience Design & Innovation Studios
TH_NK [13] UKNovember 2018Digital Consulting, Strategy & Experience Design
Competentum [46] US, RussiaJuly 2019Educational Content Services & Learning Platform
ShareKnowledgeUS, RussiaJuly 2019Educational Content Services & Learning Platform
test IO [47] US, GermanyJuly 2019SaaS Testing service
AxsphereParis, FranceSeptember 2019Digital Consultancy
NAYA Technologies [48] US, IsraelNovember 2019
S Media LinkRussia2019Web development
OnsolveVietnamNovember 2019Product development services
Deltix [49] US, Belarus, RussiaFebruary 2020Software and services provider for quantitative research, algorithmic and automated systematic trading
Ricston Ltd. [50] UK, Malta, SpainSeptember 2020Software integration and connectivity solutions provider
PolSource [51] US, PolandApril 2021Salesforce consulting
White-Hat Ltd. [52] IsraelMay 2021Cybersecurity
Just-BI [53] NetherlandsMay 2021SAP/S4HANA/Enterprise data and analytics program management
CORE SE [54] GermanyJuly 2021Consulting, strategy and transformation services
S4N [55] ColombiaAugust 2021Software development
Emakina Group [56] Belgium HeadquartersNovember 2021Strategy, Creative & Digital Experience
Optiva Media [57] Europe and Latin AmericaDecember 2021Product development and digital services (media/entertainment)
Enginiety [58] PolandJanuary 2022Commerce technology delivery
Odysseus Data Services [59] US, DE, CZ, LTJune 2024Health Data Analytics, RWE Software Engineering, OHDSI
Neoris [60] LATAM, EMEA September 2024IT services, IT consulting
First Derivative [61] Northern IrelandOctober 2024Financial Services & Consultancy

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References

  1. ↑ "2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 22, 2024.
  2. ↑ "Know The Success Story of EPAM Systems and its Journey". Your Tech Story. 2019-11-06. Retrieved 2019-11-28.
  3. ↑ "EPAM Systems, Inc. ranked number 292 among fastest growing technology companies in North America on the 2002 Deloitte & Touche Technology Fast 500". www.epam.com. Retrieved 2019-11-28.
  4. ↑ "EPAM Systems, Inc. successfully listed on the New York Stock Exchange" (PDF). sigulerguff.com. Archived from the original (PDF) on 2021-09-29. Retrieved 2019-11-28.
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  11. 1 2 N. DiStefano, Joseph (20 December 2012). "PhillyDeals: EPAM Systems buys Conshohocken's Empathy Lab". inquirer.com. Retrieved 2019-11-28.
  12. 1 2 EPAM (2018-03-15). "EPAM Acquires Continuum, Expanding Global Innovation, Design and Physical Product Development Capabilities". GlobeNewswire News Room (Press release). Retrieved 2019-11-28.
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