EPAM Systems

Last updated
EPAM Systems, Inc.
Company type Public
Industry Software engineering
Founded1993;33 years ago (1993)
Headquarters
Newtown, Pennsylvania
,
U.S.
Area served
Globally
Key people
  • Arkadiy Dobkin – Principal Founder (1993–present)
    CEO & President (1993–2025)
    Executive Chairman (Sep 2025–present)
  • Balazs Fejes – CEO & President (Sep 2025–present)
Services
  • Software product development
  • digital platform engineering
  • application development
  • enterprise application platforms
  • application testing
  • application maintenance and support
  • ASM and infrastructure services
RevenueIncrease2.svg US$5.45 billion (2025)
Increase2.svgUS$520 million (2025)
Decrease2.svgUS$377 million (2025)
Total assets Increase2.svgUS$4.90 billion (2025)
Total equity Increase2.svgUS$3.67 billion (2025)
Number of employees
62,850+ (FY 2025)
Website epam.com
Footnotes /references
[1]

EPAM Systems, Inc. is a U.S.-based global provider of information technology services and consulting.The company specializes in digital engineering, cloud transformation, artificial intelligence, and software development. [2] Headquartered in Newtown, Pennsylvania, EPAM has been listed on the New York Stock Exchange since 2012 (NYSE: EPAM). [3] It is a member of the S&P 500 Index. [4]

Contents

As of the end of 2025, the company employed approximately 62,850 people across more than 55 countries. [1] Industry analysts have described EPAM’s delivery model as engineering-focused, with an emphasis on product, platform, and AI-enabled solutions. [5]

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. [6]

In 2002, EPAM was ranked publicly for the first time as a fast-growing company by Deloitte & Touche. [7] In 2012, EPAM was listed on New York Stock Exchange under the ticker EPAM. [8]

Timeline

In 2004, EPAM acquired Fathom Technology, a software development services company based in Budapest, Hungary, expanding its offshore services beyond North America. [9]

In 2006, EPAM secured an equity investment from Siguler Guff to fund its competitive growth plans. [10]

In late 2012, EPAM made two acquisitions: Thoughtcorp, which expanded its service offerings in Agile, business intelligence and mobile, [11] and Empathy Lab, which established a digital engagement practice focusing on customer experience, design and eCommerce. [12]

EPAM made two acquisitions in 2018 to expand its service offerings: Continuum (now EPAM Continuum) [13] and TH_NK [14] 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. [15]

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. [16]

In 2019, EPAM joined the Blockchain in Transport Alliance (BiTA). [17] 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. [18]

In August 2021, EPAM expanded its presence in Latin America through the acquisition of Colombia-based S4N, [19] a software development services firm specializing in the design and development of modern software products and enterprise platforms. [20]

In July 2021, EPAM acquired CORE SE, [21] 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, [22] 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. [23]

In April 2021, EPAM acquired PolSource, [24] 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. [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]

Effective September 1, 2025, Balazs Fejes was named Chief Executive Officer and President, and joined EPAM's Board of Directors. The company's Board also appointed Arkadiy Dobkin as Executive Chairman. He will continue in his role as Chair of the Board. [27]

EPAM Systems – Revenue and Number of Employees
YearRevenue (US$ billions)Number of employees
20120.43410,043 [28]
20130.55511,056 [29]
20140.73014,109 [30]
20150.91418,354 [31]
20161.16022,383 [32]
20171.45025,962 [33]
20181.84330,156 [34]
20192.29436,739 [35]
20202.66041,168 [36]
20213.75858,824 [37]
20224.82559,300 [38]
20234.69153,150 [39]
20244.72861,200 [2]
20255.45062,850 [1]

Growth & M&A strategy

EPAM Systems has primarily grown through organic expansion, supported by long-term client relationships, diversified service offerings and the scaling of its global delivery model. [2] In parallel, the company has pursued selective, typically small to mid-sized acquisitions aimed at extending its service portfolio, geographic presence, and industry-specific expertise. [40] [41] [42]

Between 2012 and 2022, EPAM’s annual revenue increased from US$433.8 million in 2012 to US$4.825 billion in 2022. [28] [38] In 2021, the company reported revenues of US$3.758 billion, representing year-over-year growth of more than 40 percent. The majority of this growth was organic, with approximately 4.3 percent attributable to acquired businesses. [37]

Employees and offices

As of the end of 2025, EPAM Systems employed approximately 62,850 people worldwide and operated engineering and consulting centers in more than 55 countries. [1] Major employee hubs include India, Ukraine, Poland, Belarus, Mexico, Hungary, and the United States, in addition to offices across Europe, Latin America, and the Asia-Pacific region. The company combines on-site client engagement with nearshore and offshore delivery centers as part of its global operating model. [2]

Impact of the Russian invasion of Ukraine (2022)

At the beginning of 2022, EPAM Systems employed approximately 14,000 people in Ukraine, representing a substantial portion of its engineering workforce. Following Russia’s invasion of Ukraine on 24 February 2022, the company implemented employee support and relocation measures for affected staff and their families. [43]

During the initial phase of the invasion, EPAM faced internal and external criticism regarding a public statement by its founder and then CEO, Arkadiy Dobkin, which did not explicitly identify Russia as the aggressor. Dobkin later stated that the wording reflected concerns for the safety of employees located in Russia and Belarus and the company’s responsibility toward its workforce across the region. [44]

In April 2022, EPAM announced its exit from the Russian market. [45] During this period, the company established the EPAM Ukraine Assistance Fund and committed approximately US$100 million in financial and humanitarian support. [46] [47] It also provided technical equipment, including satellite communication systems Starlink, facilitated the relocation of thousands of employees from affected regions, and expanded delivery capacity in other geographic areas. [48]

Awards

References

  1. 1 2 3 4 "EPAM Systems, Inc. — Exhibit 99: Q4 2025 Earnings Press Release". U.S. Securities and Exchange Commission. U.S. Securities and Exchange Commission. 31 December 2025. Retrieved 18 February 2026.
  2. 1 2 3 4 "EPAM Systems, Inc. Form 10-K for the fiscal year ended December 31, 2024". U.S. Securities and Exchange Commission. Retrieved 22 February 2026.
  3. ↑ "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.
  4. ↑ "S&P Dow Jones Indices Announces Changes to the S&P 500" (PDF). S&P Dow Jones Indices. S&P Global. Retrieved 18 February 2026.
  5. ↑ "EPAM Named a Leader in Gartner® Magic Quadrant™ for Custom Software Development Services, Worldwide 2024". CIO&Leader. Retrieved 18 February 2026.
  6. ↑ "Know The Success Story of EPAM Systems and its Journey". Your Tech Story. 2019-11-06. Retrieved 2019-11-28.
  7. ↑ "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. Archived from the original on 2021-11-10. Retrieved 2019-11-28.
  8. ↑ "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.
  9. ↑ Ferranti, Marc (2004-03-17). "Epam merges to expand offshore services". Network World. Retrieved 2019-11-28.
  10. ↑ Dai, Shasha (2012-02-16). "Siguler Guff Sells Down Shares In EPAM". The Wall Street Journal . Archived from the original on 2022-06-14.
  11. ↑ "EPAM Systems to Acquire Thoughtcorp, Expand North American Footprint, Gain Entrance into Telecommunication Industry and Expand Agile, Business Intelligence, and Mobile Competencies" (Press release). SEC . Retrieved 2019-11-28.
  12. ↑ N. DiStefano, Joseph (20 December 2012). "PhillyDeals: EPAM Systems buys Conshohocken's Empathy Lab". inquirer.com. Retrieved 2019-11-28.
  13. ↑ 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.
  14. ↑ "Global software firm buys digital agency TH_NK". BusinessCloud.co.uk. 2 November 2018. Retrieved 2019-11-28.
  15. ↑ "EPAM Launches InfoNgen 7.0 to Improve Actionable Insights". KMWorld. 2018-05-08. Retrieved 2019-11-28.
  16. ↑ Poptamas, Vlad (2019-02-12). "EPAM Wins 2019 Big Innovation Award For TelescopeAI™, An AI-Enabled Platform To Help Businesses Manage The ir IT Operations". PICANTE Today - Hot News Today. Retrieved 2019-11-28.
  17. ↑ "EPAM Joins Blockchain in Transport Alliance, Largest Association in the World | EPAM". www.epam.com. Archived from the original on 2022-06-28. Retrieved 2019-11-28.
  18. ↑ Fejes, Balazs. "Why Open Source Software is Critical to the Future of Financial Services". www.epam.com. Archived from the original on 2020-10-01. Retrieved 2019-11-28.
  19. ↑ "EPAM Adds Engineering Scale with Colombia Acquisition". Nearshore Americas. 12 August 2021.
  20. ↑ "EPAM Systems Acquires CORE SE For Undisclosed Sum To Expand Western European Presence". news.yahoo.com. 27 July 2021. Retrieved 2023-01-05.
  21. ↑ "EPAM Systems Acquires CORE SE For Undisclosed Sum To Expand Western European Presence". Yahoo. 27 July 2021.
  22. ↑ "EPAM Snaps Up Just-BI; Street Says Buy". Nasdaq.
  23. ↑ "Israel Cybersecurity Co White-Hat Bought Out By EPAM For $50 Million". Jewish Business News. 5 May 2021.
  24. ↑ "EPAM Expands Salesforce Capabilities with Acquisition of PolSource". EPAM. Archived from the original on 2022-01-28. Retrieved 2022-01-28.
  25. ↑ "EPAM Systems Set to Join S&P 500". Cision.
  26. ↑ "Emerald to acquire Innospec Widnes to expand its footprint in global fragrance industry" . Focus on Surfactants. 2015 (8): 5. 2022-08-10. doi:10.1016/j.fos.2015.08.013.
  27. ↑ "EPAM Systems (EPAM) Announces Leadership Transition and Bylaws A". www.gurufocus.com. Retrieved 2025-10-14.
  28. 1 2 "EPAM Systems, Inc. Form 10-K for the fiscal year ended December 31, 2012". U.S. Securities and Exchange Commission. Retrieved 22 February 2026.
  29. ↑ "EPAM Systems, Inc. Form 10-K for the fiscal year ended December 31, 2013". U.S. Securities and Exchange Commission. Retrieved 22 February 2026.
  30. ↑ "EPAM Systems, Inc. Form 10-K for the fiscal year ended December 31, 2014". U.S. Securities and Exchange Commission. Retrieved 22 February 2026.
  31. ↑ "EPAM Systems, Inc. Form 10-K for the fiscal year ended December 31, 2015". U.S. Securities and Exchange Commission. Retrieved 22 February 2026.
  32. ↑ "EPAM Systems, Inc. Form 10-K for the fiscal year ended December 31, 2016". U.S. Securities and Exchange Commission. Retrieved 22 February 2026.
  33. ↑ "EPAM Systems, Inc. Form 10-K for the fiscal year ended December 31, 2017". U.S. Securities and Exchange Commission. Retrieved 22 February 2026.
  34. ↑ "EPAM Systems, Inc. Form 10-K for the fiscal year ended December 31, 2018". U.S. Securities and Exchange Commission. Retrieved 22 February 2026.
  35. ↑ "EPAM Systems, Inc. Form 10-K for the fiscal year ended December 31, 2019". U.S. Securities and Exchange Commission. Retrieved 22 February 2026.
  36. ↑ "EPAM Systems, Inc. Form 10-K for the fiscal year ended December 31, 2020". U.S. Securities and Exchange Commission. Retrieved 22 February 2026.
  37. 1 2 "EPAM Systems, Inc. Form 10-K for the fiscal year ended December 31, 2021". U.S. Securities and Exchange Commission. Retrieved 22 February 2026.
  38. 1 2 "EPAM Systems, Inc. Form 10-K for the fiscal year ended December 31, 2022". U.S. Securities and Exchange Commission. Retrieved 22 February 2026.
  39. ↑ "EPAM Systems, Inc. Form 10-K for the fiscal year ended December 31, 2023". U.S. Securities and Exchange Commission. Retrieved 22 February 2026.
  40. ↑ "EPAM acquires digital design firm Continuum". Reuters. 15 March 2018. Retrieved 22 February 2026.
  41. ↑ "EPAM to acquire First Derivative in $1.4 billion deal". Reuters. 28 October 2021. Retrieved 18 February 2026.
  42. ↑ Hancock, Jason (November 2023). "Maintaining the Start-Up Spark at a 55,000-Employee Company: An Interview with Arkadiy Dobkin". Spencer Stuart — Research & Insight. Spencer Stuart. Retrieved 22 February 2026.
  43. ↑ Gallagher, Ryan (2 March 2022). "Ukraine Stance by U.S. Tech Firm Epam Sparks Internal Dissension". Bloomberg. Retrieved 18 February 2026.
  44. ↑ Gallagher, Ryan (3 March 2022). "Tech CEO Defends Himself Against Criticism He Was Soft on Russia". Bloomberg. Retrieved 18 February 2026.
  45. ↑ "EPAM Systems Begins Process of Exiting Operations in Russia". MarketWatch. 8 April 2022. Retrieved 18 February 2026.
  46. ↑ Kovar, Joseph F. (8 April 2022). "EPAM Systems Starts Exiting Russian Operations After Ukraine Invasion". CRN. Retrieved 18 February 2026.
  47. ↑ Сапитон, Михаил (8 April 2022). "EPAM полностью уходит из России и запускает фонд помощи украинцам – письмо основателя компании". Forbes.ua (in Russian). Retrieved 18 February 2026.
  48. ↑ Martin, Iain (3 March 2022). "Ukraine War Divides Employees At American Tech Company That Straddles The Front Lines". Forbes. Forbes Media LLC. Retrieved 18 February 2026.
  49. ↑ "100 Fastest-Growing Companies". Fortune. Retrieved 2019-11-28.
  50. ↑ "100 Fastest-Growing Companies". Fortune. Retrieved 2020-11-11.
  51. ↑ "100 Fastest-Growing Companies". Fortune. Retrieved 2022-01-26.
  52. ↑ "EPAM Systems (EPAM)". Forbes. Retrieved 2022-01-26.
  53. ↑ "KMWorld 100 Companies That Matter in Knowledge Management 2019". www.kmworld.com. 11 March 2019. Retrieved 2020-12-09.
  54. ↑ "Top 100 Most Loved Workplaces 2023". Newsweek. Retrieved 18 February 2026.
  55. ↑ "Top 100 Most Loved Workplaces 2024". Newsweek. Retrieved 18 February 2026.
  56. ↑ "Best Places to Work 2023". Glassdoor. Retrieved 18 February 2026.
  57. ↑ "Best Places to Work 2024". Glassdoor. Retrieved 18 February 2026.
  58. ↑ "Best Places to Work 2025". Glassdoor. Retrieved 18 February 2026.
  59. ↑ "Glassdoor's Best-Led Companies 2025". Glassdoor. Glassdoor, Inc. Retrieved 30 November 2025.
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