EPAM Systems

EPAM Systems, Inc. is a US company that specializes in product development, digital platform engineering, and digital and product design agency.

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

Jason Peterson, Chief Financial Officer, SVP & Treasurer

Elaina Shekhter, Chief Marketing Officer, SVP

Larry Solomon, Chief People Officer, 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
Revenue US$ 2.29 billion (FY'19) [1]
Number of employees
36,700+ (FY 2019)[2]
Websitewww.epam.com

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.[3]

In 2002, EPAM was ranked publicly for the first time as a fast-growing company by Deloitte & Touche.[4]

EPAM became the first company to represent Belarus on the New York Stock Exchange when it went public in 2012 (NYSE: EPAM).[5]

Acquisitions

In 2004, EPAM acquired Fathom Technology, a software development services company based in Budapest, Hungary, expanding its offshore services beyond North America.[6] A couple years later, 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 Innovation (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] EPAM announced a partnership with Positive, a cybersecurity consulting and research firm, in 2018 to launch Cyber R&D Lab.[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 commercial organization.[18]

Company Acquired Country Date Business
Fathom Technology[6] Hungary March 2004 Software Engineering
VDI[8] US, Russia September 2006 Software Development
B2BITS Corp[19] US April 2008 Capital Markets & Financial Services
Empathy Lab[11] US December 2012 Digital Strategy & Omnichannel Experience Design
Thoughtcorp[10] Canada May 2012 Telecommunications, Agile, Business Intelligence & Mobile
Netsoft USA, Inc.[20] US March 2014 Healthcare Consulting
Jointech[21] China, Hong Kong, Singapore April 2014 Investment Banking, Wealth & Asset Management
GGA Software Services LLC[22] US June 2014 Life Sciences & Healthcare
Great Fridays[23] US, UK October 2014 Product & Service Design
Alliance Global Services[24] US, India November 2015 Product Development Services & Test Automation
NavigationArts[25] US July 2015 Digital Strategy & Experience Design
Continuum Innovation[12] US, Italy, China March 2018 Digital Strategy, Experience Design & Innovation Studios
TH_NK[13] UK November 2018 Digital Consulting, Strategy & Experience Design
Competentum[26] US, Russia July 2019 Educational Content Services & Learning Platform
ShareKnowledge US, Russia July 2019 Educational Content Services & Learning Platform
test IO[27] US, Germany July 2019 SaaS Testing service
Axsphere Paris, France September 2019 Digital Consultancy
NAYA Technologies[28] US, Israel November 2019
Onsolve Vietnam November 2019
Deltix US, Belarus, Russia February 2020

Awards
  • EPAM was named to Forbes’ 25 Fastest Growing Public Tech Companies list in 2013,[29] 2015, 2016,[30] 2017[31]
  • EPAM was named as one of Fortune’s 100 Fastest-Growing Companies in 2019[32]
  • EPAM was named a Top 10 Travel, Hospitality & Logistics Service Provider in 2018 by HFS Research[33]
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References
  1. "<EPAM Investors - Fact sheet - FY19>". investors.epam.com.
  2. https://investors.epam.com/static-files/e91200f4-b46b-4498-845d-ce7a1682c105
  3. "Know The Success Story of EPAM Systems and its Journey". Your Tech Story. 2019-11-06. Retrieved 2019-11-28.
  4. "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.
  5. "EPAM Systems, Inc. successfully listed on the New York Stock Exchange" (PDF). sigulerguff.com.
  6. Ferranti, Marc (2004-03-17). "Epam merges to expand offshore services". Network World. Retrieved 2019-11-28.
  7. "EPAM Systems secures equity investment from Siguler Guff". www.epam.com. Retrieved 2019-11-28.
  8. "VDI to be acquired by New Jersey". www.bizjournals.com. Retrieved 2019-11-28.
  9. "Arkadiy Dobkin". Software Russia. 2012-03-20. Retrieved 2019-11-28.
  10. "Press Release". www.sec.gov. Retrieved 2019-11-28.
  11. N. DiStefano, Joseph. "PhillyDeals: EPAM Systems buys Conshohocken's Empathy Lab". inquirer.com. Retrieved 2019-11-28.
  12. EPAM (2018-03-15). "EPAM Acquires Continuum, Expanding Global Innovation, Design and Physical Product Development Capabilities". GlobeNewswire News Room. Retrieved 2019-11-28.
  13. "Global software firm buys digital agency TH_NK". BusinessCloud.co.uk. Retrieved 2019-11-28.
  14. "EPAM Launches InfoNgen 7.0 to Improve Actionable Insights". KMWorld. 2018-05-08. Retrieved 2019-11-28.
  15. 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.
  16. Inc, EPAM Systems. "EPAM Partners With Positive To Expand Security Practice With New Cybersecurity R&D Lab". www.prnewswire.com. Retrieved 2019-11-28.
  17. "EPAM Joins Blockchain in Transport Alliance, Largest Association in the World | EPAM". www.epam.com. Retrieved 2019-11-28.
  18. Fejes, Balazs. "Why Open Source Software is Critical to the Future of Financial Services". www.epam.com. Retrieved 2019-11-28.
  19. "EPAM Systems Acquires B2BITS Corp., a Leading Provider of Solutions and Consulting Services to the Capital Markets". PR.com. Retrieved 2019-11-28.
  20. "EPAM Acquires Healthcare Technology Consulting Firm, Netsoft USA". MarketWatch. Retrieved 2019-11-28.
  21. "EPAM Acquires Jointech, Expands China-Based Delivery Capabilities". MarketWatch. Retrieved 2019-11-28.
  22. "EPAM Acquires GGA Software". finance.yahoo.com. Retrieved 2019-11-28.
  23. "EPAM Acquires Great Fridays, Product and Service Design Company". Software Russia. 2014-11-12. Retrieved 2019-11-28.
  24. EPAM (2015-11-16). "EPAM Acquires Alliance Global Services". GlobeNewswire News Room. Retrieved 2019-11-28.
  25. EPAM (2015-07-13). "EPAM Expands Digital Engagement Practice With Acquisition of NavigationArts". GlobeNewswire News Room. Retrieved 2019-11-28.
  26. Inc, EPAM Systems. "EPAM Expands Education and Learning Offerings With Acquisition of Competentum". www.prnewswire.com. Retrieved 2019-11-28.
  27. test IO Joins the EPAM Family
  28. Kovar, Joseph F. (2019-11-05). "EPAM Acquires Israel-based NAYA For Cloud, Database Migration Services". CRN. Retrieved 2019-11-28.
  29. "EPAM Named to Forbes List and Wins Oracle Award". Software Russia. 2013-06-13. Retrieved 2019-11-28.
  30. "EPAM Ranked #8 on Forbes' List of 25 Fastest Growing Public Tech Companies". www.epam.com. Retrieved 2019-11-28.
  31. "EPAM Again Joins Forbes' List of 25 Fastest Growing Public Tech Companies". www.epam.com. Retrieved 2019-11-28.
  32. "100 Fastest-Growing Companies". Fortune. Retrieved 2019-11-28.
  33. "HFS Top 10 Travel, Hospitality, and Logistics Service Providers". HFS Research. 2018-10-25. Retrieved 2019-11-28.
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