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EPAM Completes Acquisition of NEORIS

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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 ha completato l'acquisizione di NEORIS, una consulenza tecnologica globale con sede a Miami che conta circa 4.800 professionisti. NEORIS opera in importanti centri di talento in America Latina, Spagna e Stati Uniti, specializzandosi in progetti di trasformazione digitale per vari settori, tra cui Manifatturiero, Bancario, CPG & Retail, e Telco & Media. L'acquisizione è stata effettuata da fondi gestiti da Advent International e Cemex. Questa mossa strategica potenzia le capacità di consegna di EPAM in America Latina ed Europa, ampliando nel contempo le sue capacità di consegna globali e nearshore in Nord America, India ed Europa.

EPAM Systems ha completado su adquisición de NEORIS, una consultora tecnológica global con sede en Miami que cuenta con aproximadamente 4.800 profesionales. NEORIS opera en importantes centros de talento en América Latina, España y EE. UU., especializándose en proyectos de transformación digital para diversas industrias, incluyendo Manufactura, Banca, CPG & Retail, y Telco & Media. La adquisición se realizó a través de fondos gestionados por Advent International y Cemex. Este movimiento estratégico mejora las capacidades de entrega de EPAM en América Latina y Europa, mientras expande sus capacidades de entrega global y nearshore en América del Norte, India y Europa.

EPAM Systems가 약 4,800명의 전문가를 보유한 마이애미 기반의 글로벌 기술 컨설팅 회사인 NEORIS를 인수했습니다. NEORIS는 라틴 아메리카, 스페인 및 미국의 주요 인재 허브에서 활동하며, 제조업, 은행업, 소비재 및 소매, 통신 및 미디어를 포함한 다양한 산업을 위한 디지털 변환 프로젝트 전문입니다. 이 인수는 Advent InternationalCemex가 관리하는 자금으로 이루어졌습니다. 이 전략적 결정은 EPAM의 라틴 아메리카 및 유럽 내 제공 능력을 강화하면서 북미, 인도 및 유럽 전역에서 글로벌 및 근해 제공 능력을 확장합니다.

EPAM Systems a finalisé son acquisition de NEORIS, un cabinet de conseil technologique mondial basé à Miami, comptant environ 4 800 professionnels. NEORIS opère dans des pôles de talents majeurs en Amérique latine, en Espagne et aux États-Unis, se spécialisant dans des projets de transformation numérique pour divers secteurs, y compris Manufacturing, Banque, CPG & Retail, et Télécommunications & Médias. L'acquisition a été réalisée par des fonds gérés par Advent International et Cemex. Ce mouvement stratégique renforce les capacités de livraison d'EPAM en Amérique latine et en Europe, tout en élargissant ses capacités de livraison globales et nearshore en Amérique du Nord, en Inde et en Europe.

EPAM Systems hat die Übernahme von NEORIS abgeschlossen, einer globalen Technologieberatung mit Sitz in Miami, die ungefähr 4.800 Fachkräfte beschäftigt. NEORIS ist in wichtigen Talentzentren in Lateinamerika, Spanien und den USA tätig und spezialisiert sich auf digitale Transformationsprojekte in verschiedenen Branchen, einschließlich Fertigung, Bankwesen, CPG & Einzelhandel sowie Telekommunikation & Medien. Die Übernahme wurde durch Fonds von Advent International und Cemex getätigt. Dieser strategische Schritt verbessert EPAMs Lieferfähigkeiten in Lateinamerika und Europa und erweitert gleichzeitig seine globalen und Nearshore-Lieferfähigkeiten in Nordamerika, Indien und Europa.

Positive
  • Acquisition adds 4,800 technology professionals to EPAM's workforce
  • Expands geographical presence in Latin America and Spanish/Portuguese-speaking markets
  • Enhances delivery capabilities across multiple regions
  • Strengthens expertise in key industries including Manufacturing, Banking, CPG & Retail
Negative
  • None.

Insights

This strategic acquisition significantly strengthens EPAM's market position and delivery capabilities. Adding 4,800 professionals from NEORIS expands EPAM's presence in key Latin American markets and enhances its Spanish and Portuguese language capabilities. The deal brings valuable expertise in critical domains like Digital Experience, SAP and AI/ML, complementing EPAM's existing service portfolio.

The acquisition provides EPAM with improved nearshore delivery options for North American clients, potentially leading to cost efficiencies and better service delivery times. NEORIS's established presence in Manufacturing, Banking and Retail sectors opens new revenue streams and cross-selling opportunities. The backing of previous owners Advent International and Cemex suggests NEORIS has strong operational foundations and client relationships.

This move aligns with the industry trend of IT service providers expanding their nearshore capabilities to address rising demand for digital transformation services while managing delivery costs effectively.

The acquisition enhances EPAM's delivery capabilities in Latin America and Europe, boosting client value across key industries

NEWTOWN, Pa., Nov. 1, 2024 /PRNewswire/ -- EPAM Systems, Inc. (NYSE: EPAM), a leading digital transformation services and product engineering company, today announced the successful completion of its acquisition of NEORIS, a Miami-headquartered global advanced technology consultancy with approximately 4,800 professionals across major talent hubs in Latin America, Spain and the U.S. The sellers are funds managed by Advent International, one of the largest and most experienced global private equity investors, and Cemex, a global building materials company.

NEORIS specializes in delivering complex digital engagement and transformation projects for clients in the Americas and Europe across Manufacturing, Banking, CPG & Retail, Telco & Media, among others. They utilize their strong software development and technology consulting expertise in multiple domains, including Digital Experience, Engineering, SAP, Data, Analytics, ML & AI, Interactive UX, Digital Strategy and Enterprise Architecture.

The closing of this acquisition marks a strategic expansion for EPAM—creating a competitive offering for clients across Latin America and in Spanish- and Portuguese-speaking countries—while broadening EPAM's global and nearshore delivery capabilities across North America, India and Europe.

Learn more about the acquisition here: EPAM Announces Agreement to Acquire NEORIS | EPAM.

About EPAM Systems 

Since 1993, EPAM Systems, Inc. (NYSE: EPAM) has used its software engineering expertise to become a leading global provider of digital engineering, cloud and AI-enabled transformation services, and a leading business and experience consulting partner for global enterprises and ambitious startups. We address our clients' transformation challenges by focusing EPAM Continuum's integrated strategy, experience and technology consulting with our 30+ years of engineering execution to speed our clients' time to market and drive greater value from their innovations and digital investments.

We make GenAI real with our AI LLM orchestration, testing and engineering solutions, EPAM DIAL, EPAM EliteA™ and EPAM AI/RUN™, respectively.

We deliver globally but engage locally with our expert teams of consultants, architects, designers and engineers, making the future real for our clients, our partners, and our people around the world. We believe the right solutions are the ones that improve people's lives and fuel competitive advantage for our clients across diverse industries. Our thinking comes to life in the experiences, products and platforms we design and bring to market.

Added to the S&P 500 and the Forbes Global 2000 in 2021 and recognized by Glassdoor and Newsweek as a Top 100 Best Workplace, our multidisciplinary teams serve customers across six continents. We are proud to be among the top 15 companies in Information Technology Services in the Fortune 1000 and to be recognized as a leader in the IDC MarketScapes for Worldwide Experience Build Services, Worldwide Experience Design Services and Worldwide Software Engineering Services.

Learn more at www.epam.com and follow us on LinkedIn.

Forward-Looking Statements

This press release includes certain statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Such forward-looking statements are mainly based on our current expectations and estimates of future events and trends, which affect or may affect our business and operations. These statements may include words such as "may," "will," "should," "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions. Those future events and trends may relate to, among other things, the anticipated impacts or benefits of EPAM's acquisition of NEORIS, including any market expansion, developments relating to the war in Ukraine and escalation of the war in the surrounding region, political and civil unrest or military action in the geographies where we conduct business and operate, difficult conditions in global capital markets, foreign exchange markets and the broader economy, and the effect that these events may have on client demand and our revenues, operations, access to capital, and profitability. Other factors that could cause actual results to differ materially from those expressed or implied include general economic conditions, the risk factors discussed in our most recent Annual Report on Form 10-K and the factors discussed in our Quarterly Reports on Form 10-Q, particularly under the headings "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" and other filings with the Securities and Exchange Commission. Although we believe that these forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made based on information currently available to us. EPAM undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.

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SOURCE EPAM Systems, Inc.

FAQ

How many employees did EPAM acquire through the NEORIS acquisition?

Through the NEORIS acquisition, EPAM acquired approximately 4,800 professionals across Latin America, Spain, and the U.S.

Which companies sold NEORIS to EPAM (NYSE: EPAM)?

NEORIS was sold to EPAM by funds managed by Advent International and Cemex.

What are the main markets where NEORIS operates?

NEORIS operates primarily in Latin America, Spain, and the United States, with major talent hubs across these regions.

What industries does NEORIS serve after being acquired by EPAM?

NEORIS serves various industries including Manufacturing, Banking, CPG & Retail, and Telco & Media sectors.

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