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.

History

Early years

In 1993, and Leo Lozner founded EPAM, a global software engineering services company, in

New Jersey New Jersey is a U.S. state, state located in both the Mid-Atlantic States, Mid-Atlantic and Northeastern United States, Northeastern regions of the United States. Located at the geographic hub of the urban area, heavily urbanized Northeas ...

, USA and Minsk, Belarus. In 2002, EPAM was ranked publicly for the first time as a fast-growing company by Deloitte & Touche. In 2012, EPAM was listed on

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is the List of stock exchanges, largest stock excha ...

under the moniker EPAM.

Timeline

In 2004, EPAM acquired Fathom Technology, a software development services company based in

Budapest Budapest is the Capital city, capital and List of cities and towns of Hungary, most populous city of Hungary. It is the List of cities in the European Union by population within city limits, tenth-largest city in the European Union by popul ...

, Hungary, expanding its offshore services beyond North America. In 2006, EPAM secured an equity investment from Siguler Guff to fund its competitive growth plans. In late 2012, EPAM made two acquisitions, Thoughtcorp, which expanded its service offerings in Agile,

business intelligence Business intelligence (BI) consists of strategies, methodologies, and technologies used by enterprises for data analysis and management of business information. Common functions of BI technologies include Financial reporting, reporting, online an ...

and mobile, and Empathy Lab, which established a digital engagement practice focusing on customer experience, design and eCommerce. EPAM made two acquisitions in 2018 to expand its service offerings: Continuum (now EPAM Continuum) and TH_NK to add consulting capabilities and develop its digital and service design practices. Also that year, EPAM launched InfoNgen®, a

text analytics Text mining, text data mining (TDM) or text analytics is the process of deriving high-quality information from plain text, text. It involves "the discovery by computer of new, previously unknown information, by automatically extracting information ...

and sentiment analysis enterprise software product that uses

artificial intelligence Artificial intelligence (AI) is the capability of computer, computational systems to perform tasks typically associated with human intelligence, such as learning, reasoning, problem-solving, perception, and decision-making. It is a field of re ...

. 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. In 2019, EPAM joined the Blockchain in Transport Alliance (BiTA). 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 Open source is source code that is made freely available for possible modification and redistribution. Products include permission to use and view the source code, design documents, or content of the product. The open source model is a decentrali ...

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. In August 2021, EPAM expanded its presence in

Latin America Latin America is the cultural region of the Americas where Romance languages are predominantly spoken, primarily Spanish language, Spanish and Portuguese language, Portuguese. Latin America is defined according to cultural identity, not geogr ...

through the acquisition of

Colombia Colombia, officially the Republic of Colombia, is a country primarily located in South America with Insular region of Colombia, insular regions in North America. The Colombian mainland is bordered by the Caribbean Sea to the north, Venezuel ...

-based S4N, a software development services firm specializing in the design and development of modern software products and enterprise platforms. In July 2021, EPAM acquired CORE SE, 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, 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. In April 2021, EPAM acquired PolSource, a Salesforce Consulting Partner with more than 350 Salesforce specialists across the Americas and Europe. In December 2021, EPAM joined the

S&P 500 The Standard and Poor's 500, or simply the S&P 500, is a stock market index tracking the stock performance of 500 leading companies listed on stock exchanges in the United States. It is one of the most commonly followed equity indices and in ...

American market index. 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.

Russian invasion of Ukraine

During the

2022 Russian invasion of Ukraine On 24 February 2022, , starting the largest and deadliest war in Europe since World War II, in a major escalation of the Russo-Ukrainian War, conflict between the two countries which began in 2014. The fighting has caused hundreds of thou ...

, tensions between the firm's 14,000 Ukrainian employees and the 18,000 Belarusian and Russian staff sparked dissension when the CEO refrained from publicly condemning Russia in a statement on

LinkedIn LinkedIn () is an American business and employment-oriented Social networking service, social network. It was launched on May 5, 2003 by Reid Hoffman and Eric Ly. Since December 2016, LinkedIn has been a wholly owned subsidiary of Microsoft. ...

and rejected calls to assist the Ukrainian military. According to ''

Forbes ''Forbes'' () is an American business magazine founded by B. C. Forbes in 1917. It has been owned by the Hong Kong–based investment group Integrated Whale Media Investments since 2014. Its chairman and editor-in-chief is Steve Forbes. The co ...

'', 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. Also, the company launched the EPAM Ukraine Assistance Fund to help Ukrainians and made a US$100 million humanitarian aid commitment. In April 2022, EPAM decided to stop operating in Russia while continuing working in Belarus.

Awards

* EPAM was named as one of Fortune’s 100 Fastest-Growing Companies in 2019, 2020 and 2021. * In May 2021, EPAM ranked 1,804 on the Forbes Global 2000 list. *In 2019, KMWorld Magazine named EPAM in the list of 100 significant companies in the field of knowledge management.

References

External links

* {{DEFAULTSORT:Epam Systems Companies listed on the New York Stock Exchange Outsourcing companies Software companies established in 1993 Software companies based in Pennsylvania Companies based in Bucks County, Pennsylvania American companies established in 1993 1993 establishments in New Jersey 2012 initial public offerings Software companies of the United States