EPAM Systems

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{{Infobox company

| name = EPAM Systems, Inc.

| logo = 250px

| type = Public

| traded_as = {{ubl|{{NYSE|EPAM}}|S&P 500 component}}

| area_served = Globally

| key_people = {{interlanguage link|Arkadiy Dobkin|be|Аркадзь Міхайлавіч Добкін|ru|Добкин, Аркадий Михайлович}} {{nowrap|(chairman, president & CEO)}}

| industry = Software engineering

| services = {{flat list|

Software product development
digital platform engineering
application development
enterprise application platforms
application testing
application maintenance and support
ASM and infrastructure services

}}

| revenue = {{nowrap|{{increase}} {{US$|4.73 billion|link=yes}} (2024)}}

| operating_income = {{increase}} {{US$|545 million}} (2024)

| net_income = {{increase}} {{US$|455 million}} (2024)

| assets = {{nowrap|{{increase}} {{USD|4.75 billion}} (2024)}}

| equity = {{nowrap|{{increase}} {{USD|3.63 billion}} (2024)}}

| num_employees = 61,200 (2024)

| founded = {{Start date and age|1993}}

| hq_location_city = Newtown, Pennsylvania

| hq_location_country = U.S.

| website = {{URL|epam.com}}

| footnotes = {{Cite web |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1352010/000135201025000007/epam-20241231.htm |title=2024 Annual Report (Form 10-K) |date=February 28, 2025 |publisher=U.S. Securities and Exchange Commission}}

}}

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, {{interlanguage link|Arkadiy Dobkin|be|Аркадзь Міхайлавіч Добкін|ru|Добкин, Аркадий Михайлович}} and Leo Lozner founded EPAM, a global software engineering services company, in New Jersey, USA and Minsk, Belarus.{{cite web|url=http://www.yourtechstory.com/2019/11/06/success-story-of-epam/|title=Know The Success Story of EPAM Systems and its Journey.|date=2019-11-06|website=Your Tech Story|language=en-US|access-date=2019-11-28}}

In 2002, EPAM was ranked publicly for the first time as a fast-growing company by Deloitte & Touche.{{cite web|url=https://www.epam.com/content/epam/en/about/newsroom/press-releases/2002/epam-systems-inc-ranked-number-292-among-fastest-growing-technology-companies-in-north-america-on-the-2002-deloitte--touche-technology-fast-500|title=EPAM Systems, Inc. ranked number 292 among fastest growing technology companies in North America on the 2002 Deloitte & Touche Technology Fast 500|website=www.epam.com|language=en|access-date=2019-11-28}}

In 2012, EPAM was listed on New York Stock Exchange under the moniker EPAM.{{cite web|url=http://www.sigulerguff.com/sites/default/files/04.03.12.EPAM-Systems-Inc.-Successfully-Listed-on-New-York-Stock-Exchange.pdf|title=EPAM Systems, Inc. successfully listed on the New York Stock Exchange|website=sigulerguff.com|access-date=2019-11-28|archive-date=2021-09-29|archive-url=https://web.archive.org/web/20210929164313/https://www.sigulerguff.com/sites/default/files/04.03.12.EPAM-Systems-Inc.-Successfully-Listed-on-New-York-Stock-Exchange.pdf|url-status=dead}}

= Timeline =

In 2004, EPAM acquired Fathom Technology, a software development services company based in Budapest, Hungary, expanding its offshore services beyond North America.{{cite web|url=https://www.networkworld.com/article/2331485/epam-merges-to-expand-offshore-services.html|title=Epam merges to expand offshore services|last=Ferranti|first=Marc|date=2004-03-17|website=Network World|language=en|access-date=2019-11-28}}

In 2006, EPAM secured an equity investment from Siguler Guff to fund its competitive growth plans.{{cite web|url=https://www.wsj.com/articles/DJFLBO0020120216e82grxv61|title=Siguler Guff Sells Down Shares In EPAM|work=The Wall Street Journal|date=2012-02-16|first=Shasha|last=Dai|archive-url=https://archive.today/20220614022030/https://www.wsj.com/articles/DJFLBO0020120216e82grxv61|archive-date=2022-06-14}}

In late 2012, EPAM made two acquisitions, Thoughtcorp, which expanded its service offerings in Agile, business intelligence and mobile,{{cite press release|url=https://www.sec.gov/Archives/edgar/data/1352010/000119312512244165/d357389dex991.htm|title=EPAM Systems to Acquire Thoughtcorp, Expand North American Footprint, Gain Entrance into Telecommunication Industry and Expand Agile, Business Intelligence, and Mobile Competencies|publisher=SEC|access-date=2019-11-28}} and Empathy Lab, which established a digital engagement practice focusing on customer experience, design and eCommerce.{{cite web|url=https://www.inquirer.com/philly/business/20121220_PhillyDeals__EPAM_Systems_buys_Conshohocken_s_Empathy_Lab.html|title=PhillyDeals: EPAM Systems buys Conshohocken's Empathy Lab|last=N. DiStefano|first=Joseph|website=inquirer.com|date=20 December 2012 |language=en-US|access-date=2019-11-28}}

EPAM made two acquisitions in 2018 to expand its service offerings: Continuum (now EPAM Continuum) {{cite press release|url=http://www.globenewswire.com/news-release/2018/03/15/1438175/0/en/EPAM-Acquires-Continuum-Expanding-Global-Innovation-Design-and-Physical-Product-Development-Capabilities.html|title=EPAM Acquires Continuum, Expanding Global Innovation, Design and Physical Product Development Capabilities|last=EPAM|date=2018-03-15|website=GlobeNewswire News Room|access-date=2019-11-28}} and TH_NK{{cite web|url=https://www.businesscloud.co.uk/news/software-provider-nabs-agency-to-boost-consulting-power|title=Global software firm buys digital agency TH_NK|website=BusinessCloud.co.uk|date=2 November 2018|language=en|access-date=2019-11-28}} 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.{{cite web|url=https://www.kmworld.com/Articles/ReadArticle.aspx?ArticleID=124933|title=EPAM Launches InfoNgen 7.0 to Improve Actionable Insights|date=2018-05-08|website=KMWorld|language=en-US|access-date=2019-11-28}}

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.{{cite web|url=https://picante.today/latest-news/2019/02/12/18198/epam-wins-2019-big-innovation-award-for-telescopeai-an-ai-enabled-platform-to-help-businesses-manage-the-ir-it-operations/|title=EPAM Wins 2019 Big Innovation Award For TelescopeAI™, An AI-Enabled Platform To Help Businesses Manage The ir IT Operations|last=Poptamas|first=Vlad|date=2019-02-12|website=PICANTE Today - Hot News Today|language=en-US|access-date=2019-11-28}}

In 2019, EPAM joined the Blockchain in Transport Alliance (BiTA).{{cite web|url=https://www.epam.com/content/epam/en/about/newsroom/press-releases/2019/epam-joins-blockchain-in-transport-alliance-the-worlds-largest-commercial-blockchain-association|title=EPAM Joins Blockchain in Transport Alliance, Largest Association in the World {{!}} EPAM|website=www.epam.com|language=en|access-date=2019-11-28}} 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.{{cite web|url=https://www.epam.com/insights/blogs/why-open-source-is-critical-to-the-future-of-financial-services|title=Why Open Source Software is Critical to the Future of Financial Services|last=Fejes|first=Balazs|website=www.epam.com|language=en-us|access-date=2019-11-28}}

In August 2021, EPAM expanded its presence in Latin America through the acquisition of Colombia-based S4N,{{cite web|url=https://nearshoreamericas.com/epam-systems-colombia-s4n-services/|title=EPAM Adds Engineering Scale with Colombia Acquisition|website=Nearshore Americas|date=12 August 2021 |language=en-us}} a software development services firm specializing in the design and development of modern software products and enterprise platforms.{{Cite web |title=EPAM Systems Acquires CORE SE For Undisclosed Sum To Expand Western European Presence |url=https://news.yahoo.com/epam-systems-acquires-core-se-151854273.html |access-date=2023-01-05 |website=news.yahoo.com |date=27 July 2021 |language=en-US}}

In July 2021, EPAM acquired CORE SE,{{cite web|url=https://www.yahoo.com/now/epam-systems-acquires-core-se-151854273.html|title=EPAM Systems Acquires CORE SE For Undisclosed Sum To Expand Western European Presence|website=Yahoo|date=27 July 2021 |language=en-us}} 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,{{cite web|url=https://www.nasdaq.com/articles/epam-snaps-up-just-bi-street-says-buy-2021-05-12|title=EPAM Snaps Up Just-BI; Street Says Buy|website=Nasdaq|language=en-us}} 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.{{cite web|url=https://jewishbusinessnews.com/2021/05/05/israel-cybersecurity-co-white-hat-bought-out-by-epam-for-50-million/|title=Israel Cybersecurity Co White-Hat Bought Out By EPAM For $50 Million|website=Jewish Business News|date=5 May 2021 |language=en-us}}

In April 2021, EPAM acquired PolSource,{{cite web|url=https://www.epam.com/about/newsroom/press-releases/2021/epam-expands-salesforce-capabilities-with-acquisition-of-polsource|title=EPAM Expands Salesforce Capabilities with Acquisition of PolSource|website=EPAM|language=en-us}} 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.{{cite web|url=https://press.spglobal.com/2021-12-07-EPAM-Systems-Set-to-Join-S-P-500|title=EPAM Systems Set to Join S&P 500|website=Cision|language=en-us}}

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.{{Cite journal |date=2022-08-10 |title=Emerald to acquire Innospec Widnes to expand its footprint in global fragrance industry |url=https://it-rating.com/ppc/ |journal=Focus on Surfactants |volume=2015 |issue= 8|page=5 |doi=10.1016/j.fos.2015.08.013 |issn=|url-access=subscription }}

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 {{interlanguage link|Arkadiy Dobkin|be|Аркадзь Міхайлавіч Добкін|ru|Добкин, Аркадий Михайлович}} refrained from publicly condemning Russia in a statement on LinkedIn and rejected calls to assist the Ukrainian military.{{cite news |url=https://www.bloomberg.com/news/articles/2022-03-02/ukraine-stance-by-u-s-tech-firm-sparks-internal-dissension |title=Ukraine Stance by U.S. Tech Firm Epam Sparks Internal Dissension |first=Ryan |last=Gallagher |date=2 March 2022 |publisher=Bloomberg |access-date=2022-03-27}} 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.{{cite news |first=Iain |last=Martin |url=https://www.forbes.com/sites/iainmartin/2022/03/03/ukraine-war-divides-employees-at-american-tech-company-that-straddles-the-front-lines/ |title=Ukraine War Divides Employees At American Tech Company That Straddles The Front Lines |work=Forbes.com |date=3 March 2022 |access-date=2022-03-27}} Also, the company launched the EPAM Ukraine Assistance Fund to help Ukrainians and made a US$100 million humanitarian aid commitment.{{cite web | last=Сапитон | first=Михаил | title=EPAM полностью уходит из России и запускает фонд помощи украинцам – письмо основателя компании | website=Forbes.ua | date=April 8, 2022 | url=https://forbes.ua/ru/news/epam-povnistyu-ide-z-rosii-ta-zapuskae-fond-dopomogi-ukraintsyam-list-zasnovnika-kompanii-08042022-5348 | language=ru | access-date=April 26, 2022}} In April 2022, EPAM decided to stop operating in Russia while continuing working in Belarus.{{Cite web |title=EPAM Systems Begins Process of Exiting Operations in Russia |url=https://www.marketwatch.com/story/epam-systems-begins-process-of-exiting-operations-in-russia-271649370987 |access-date=2022-04-11 |website=MarketWatch |language=EN-US |archive-date=2022-04-11 |archive-url=https://web.archive.org/web/20220411080608/https://www.marketwatch.com/story/epam-systems-begins-process-of-exiting-operations-in-russia-271649370987 |url-status=dead }}{{Cite web |date=2022-04-08 |title=Із Росії йде EPAM — найбільший розробник софту |url=https://focus.ua/uk/digital/511820-iz-rossii-uhodit-epam-krupneyshiy-razrabotchik-softa |access-date=2022-04-11 |website=ФОКУС |language=uk}}{{cite web

|author=Joseph F. Kovar

|language =en

|url = https://www.crn.com/news/channel-programs/epam-systems-starts-exiting-russian-operations-after-ukraine-invasion

|title =EPAM Systems Starts Exiting Russian Operations After Ukraine Invasion

|publisher = CRN.com

|date = 2022-04-08

|accessdate = 2022-05-27

}}

Awards

EPAM was named as one of Fortune’s 100 Fastest-Growing Companies in 2019,{{cite web|url=https://fortune.com/100-fastest-growing-companies/2019/|title=100 Fastest-Growing Companies|website=Fortune|language=en|access-date=2019-11-28}} 2020{{cite web|title=100 Fastest-Growing Companies|url=https://fortune.com/100-fastest-growing-companies/2020/|access-date=2020-11-11|website=Fortune|language=en}} and 2021.{{cite web|url=https://fortune.com/100-fastest-growing-companies/2021/ |title=100 Fastest-Growing Companies|website=Fortune|language=en|access-date=2022-01-26}}
In May 2021, EPAM ranked 1,804 on the Forbes Global 2000 list.{{cite web|url=https://www.forbes.com/companies/epam-systems/?sh=6cbd6bb2f359 |title=EPAM Systems (EPAM)|website=Forbes|language=en|access-date=2022-01-26}}
In 2019, KMWorld Magazine named EPAM in the list of 100 significant companies in the field of knowledge management.{{cite web|title=KMWorld 100 Companies That Matter in Knowledge Management 2019|url=https://www.kmworld.com/Articles/Editorial/Features/KMWorld-100-Companies-That-Matter-in-Knowledge-Management-2019-129903.aspx|access-date=2020-12-09|website=www.kmworld.com|date=11 March 2019 }}