EPAM SYSTEMS, INC. - EPAM STOCK NEWS

EPAM Systems has expanded its strategic partnership with Google Cloud to deliver advanced industry solutions across media and entertainment, energy, and retail sectors. The collaboration will utilize Google Cloud's Vertex AI platform to provide generative AI, legacy modernization, and data analytics capabilities.

The company introduced four new solutions: Video Search and Indexing for media and entertainment, JenAii™ for retail customer assistance, Geospatial Data Visualization for energy sector decision-making, and Talk to Your Data for simplified data analysis. EPAM will leverage its expanded presence in Ibero markets through Neoris acquisition and strengthen financial services offerings across Europe, North America, and APAC through First Derivative acquisition.

EPAM Systems has achieved notable recognition in Newsweek's 2025 Excellence 1000 Index, ranking #754 overall and securing a position in the Top 5 for IT Services and IT Consulting. The index, developed in collaboration with the Best Practice Institute, evaluates companies based on financial responsibility, stakeholder ratings, and social responsibility.

The assessment involved analyzing over half a million data points across multiple criteria, including employee and customer ratings, ESG risk ratings, ISO standards adherence, R&D spending, and Global Compact status. EPAM's recognition highlights its commitment to client service, engineering excellence, and sustainability.

The company has maintained its position as a 'Most Loved Workplace' in Newsweek's Top 100 for four consecutive years. In 2024, EPAM expanded its capabilities through strategic acquisitions of First Derivative, Neoris, Odysseus Data Services, and Vates, enhancing its AI, data-driven solutions, cloud, engineering, testing, and digital services offerings.

EPAM Systems has completed its acquisition of First Derivative, a managed services and consulting business for capital markets with over 1,800 employees worldwide. First Derivative brings extensive expertise in capital markets consulting and technology capabilities, including application development, real-time data platforms, and AI solutions. The acquisition enhances EPAM's financial services delivery capabilities across North America, Europe, and APAC regions. The strategic partnership combines EPAM's digital, AI, cloud, and engineering capabilities with First Derivative's specialized knowledge in financial services and regulated industries. The merged entity aims to deliver comprehensive AI-enabled solutions to clients in banking, capital markets, and financially regulated businesses.

EPAM Systems announced the release of StatGPT 2.0 Platform, developed in collaboration with the International Monetary Fund (IMF) for SDMX sponsor organizations and selected national statistical organizations. The platform, built on EPAM DIAL technology, enables natural language access to global economic and financial data. StatGPT 2.0 was evaluated using eight public datasets and tested by over 100 representatives from SDMX sponsoring institutions. The platform represents an advancement in statistical data management, offering improved efficiency in data queries and user guidance.

EPAM Systems reported Q3 2024 revenues of $1.168 billion, up 1.3% year-over-year. GAAP income from operations was 15.2% of revenues, while non-GAAP income was 19.1%. The company recorded a $52.0 million benefit from Polish R&D government incentives. GAAP diluted EPS increased to $2.37, up $0.72, and non-GAAP diluted EPS rose to $3.12, up $0.39 year-over-year. EPAM raised its full-year 2024 outlook, expecting revenues between $4.685-4.695 billion. The company completed the acquisition of NEORIS, adding approximately 4,800 professionals across Latin America, Spain, and the U.S.

EPAM Systems has completed its acquisition of NEORIS, a Miami-based global technology consultancy with approximately 4,800 professionals. NEORIS operates across major talent hubs in Latin America, Spain, and the U.S., specializing in digital transformation projects for various industries including Manufacturing, Banking, CPG & Retail, and Telco & Media. The acquisition was made from funds managed by Advent International and Cemex. This strategic move enhances EPAM's delivery capabilities in Latin America and Europe while expanding its global and nearshore delivery capabilities across North America, India, and Europe.

EPAM Systems (NYSE: EPAM) has been positioned as a Leader in Gartner's Magic Quadrant™ for Custom Software Development Services, Worldwide 2024. The recognition highlights EPAM's expertise in building and modernizing solutions, particularly leveraging Generative AI technology. The company's capabilities span across modern technologies including machine learning, cloud-native solutions, composable architecture, API-first approaches, microservices, serverless computing, data-mesh, multi-experience, hyperautomation, blockchain, and IoT to deliver scalable solutions.

EPAM Systems, Inc. (NYSE: EPAM), a leading digital transformation services and product engineering company, has announced its upcoming third quarter 2024 earnings release and conference call. The company will host a conference call on Thursday, November 7, 2024, at 8:00 a.m. ET to discuss its financial results for Q3 2024. A news release containing these results will be issued prior to the call.

Investors and interested parties can access the live webcast of the conference call on the EPAM website at https://investors.epam.com. It is recommended to visit the website at least 15 minutes before the call to register for the event. For those unable to attend the live webcast, a replay will be made available in the Investor Relations section of the website.

EPAM Systems, Inc. (NYSE: EPAM) has announced an agreement to acquire First Derivative, a Northern Ireland-based managed services and consulting business for the capital markets industry. This strategic acquisition will enhance EPAM's capabilities in capital markets, banking operations, and asset servicing, strengthening its global client offerings.

First Derivative brings over 1,800 employees worldwide and major delivery capabilities in the UK, Ireland, North America, and APAC. The acquisition will add more than 100 new clients to EPAM's portfolio, offering unmatched value in technology services for the financial services industry. First Derivative specializes in helping leading financial institutions, including the top 20 global banks, stay compliant, reduce costs, and enhance efficiency through tech modernization.

The combination of EPAM's digital technology and engineering expertise with First Derivative's business services and software offerings, enhanced by Generative AI, will create valuable end-to-end capabilities for clients. The acquisition is expected to close in the fourth quarter of 2024, subject to customary closing conditions and regulatory clearances.