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EPAM Systems, Inc. (NYSE: EPAM) is a global leader in software product development, digital platform engineering, and technology consulting based in the United States. Established in 1993, EPAM has built a reputation for excellence, recognized by independent research agencies and industry leaders globally. The company operates in over 20 countries across North America, Europe, Asia, and Australia, delivering innovative solutions to clients worldwide.
EPAM's core offerings include digital and cloud engineering, AI-enabled transformation services, and comprehensive business and experience consulting. The company's largest market is North America, accounting for approximately 60% of its revenues. EPAM has expertise in emerging technologies like artificial intelligence, virtual reality, and robotics, helping businesses stay ahead in a rapidly evolving tech landscape.
Recent achievements highlight EPAM's strong market position. The company was added to the S&P 500 and the Forbes Global 2000 in 2021 and has been recognized by Glassdoor as a Best Workplace in 2023 and 2024. EPAM's multidisciplinary teams, comprising consultants, architects, designers, and engineers, serve clients across six continents, ensuring local engagement and global delivery.
EPAM continues to expand its capabilities through strategic acquisitions and partnerships. Notably, the acquisition of Vates S.A. in 2024 bolstered EPAM's software development portfolio and enhanced its delivery capabilities in Latin America. Additionally, EPAM has been honored with several industry awards, including the 2024 Google Cloud Talent Development Partner of the Year Award in North America, reflecting its commitment to innovation and excellence in talent development.
Financially, EPAM has demonstrated resilience and adaptability, navigating volatile market conditions and refining its growth strategies. The company focuses on harmonizing delivery quality, optimizing cost-effectiveness, and leveraging its extensive experience in data, engineering, and consulting to capitalize on opportunities in the AI space. EPAM supplements its GAAP results with non-GAAP financial measures to provide a clearer picture of underlying business trends and performance.
EPAM's latest project, OSPulse™, an enterprise-level analytics dashboard, showcases the company's continuous innovation. OSPulse™ helps organizations monitor open source engagement, offering valuable insights for strategic decision-making. EPAM's commitment to the open source community is reflected in its extensive contributions and initiatives like the Open Source Contributor Index (OSCI), furthering technological innovation and community engagement.
For more information about EPAM Systems, visit www.epam.com.
EPAM Systems (NYSE: EPAM) has been recognized in the 2022 Best Places to Work Awards by Built In for its commitment to entrepreneurial growth and employee well-being, receiving honors in New York City and San Francisco. This marks the second consecutive year EPAM has earned this accolade, reflecting its focus on competitive compensation, health benefits, and career advancement opportunities. Built In's awards assess a range of factors, including flexible work arrangements and diversity initiatives. EPAM, a leader in digital transformation, continues to innovate and support its global workforce.
EPAM Continuum, a division of EPAM Systems, has formed a strategic digital partnership with INEOS Automotive to launch the Grenadier, a new 4X4 vehicle. Under this collaboration, EPAM will manage the digital strategy and customer engagement for the vehicle's launch. This includes creating a comprehensive digital experience through a dedicated website and a vehicle configurator. The partnership aims to build excitement ahead of the Grenadier's launch in 2022, with a successful 'Reservation Day' event generating significant interest and exceeding target reservations.
EPAM Systems has announced the acquisition of Optiva Media to enhance its digital transformation capabilities in the media sector. This move aims to leverage Optiva's expertise in product development and digital services, allowing EPAM to offer comprehensive solutions for media and entertainment companies. With over 18 years of experience, Optiva Media has a solid track record, including launching the first European video-on-demand system. The acquisition strengthens EPAM's position in Western Europe and Latin America, providing a competitive edge in this rapidly evolving market.
EPAM Systems, Inc. (NYSE: EPAM) has been awarded the 2021 Acquia Engage Award for its collaboration with Mars, Incorporated, exemplifying excellence in digital transformation. This award recognizes high-impact digital experiences built using the Acquia Open Digital Experience Platform. EPAM and Mars created a 'starter kit' for all Mars brands, enabling a unified digital presence and enhancing user experiences. Key benefits include a 50% reduction in web development time and a 40% decrease in web maintenance costs, showcasing their commitment to delivering scalable digital solutions.
EPAM Systems has launched its new Digital Clinical Trials (DCT) platform, powered by Microsoft cloud services. This patient-centric solution aims to enhance the efficiency of hybrid clinical trials by streamlining patient recruitment, improving data integration, and boosting patient engagement. Key features include remote patient enrollment, an omnichannel communication system, and tools for real-time patient outcome updates. EPAM's initiative reflects a shift towards decentralized trials, making clinical studies more accessible and quicker.
EPAM Systems (NYSE: EPAM) has announced the acquisition of Emakina Group, a prominent digital agency based in Belgium, enhancing its digital experience practice. Emakina, with over 1,100 employees and a presence in 18 countries, provides services such as consulting, marketing, and data analytics. This acquisition is expected to strengthen EPAM's capabilities in strategy and creativity. Following the acquisition, EPAM will own 100% of Emakina after the squeeze-out period, set to conclude on November 30, 2021.
EPAM Systems reported strong Q3 2021 results with revenues reaching $988.5 million, a 51.6% year-over-year increase. GAAP income from operations rose 49.5% to $144.1 million, while non-GAAP income increased 45.7% to $179.6 million. Diluted EPS on a GAAP basis rose 27.5% to $1.95. The company also raised its full-year revenue growth outlook to at least 40%, expecting Q4 revenues between $1.075 billion and $1.085 billion. Cash reserves increased by 7.7% to $1,425.6 million as of September 30, 2021.
EPAM Systems, Inc. (NYSE: EPAM) released its Consumer Banking Report 2021, analyzing how evolving consumer attitudes post-pandemic affect the banking industry. Surveying over 21,000 individuals across multiple regions including the U.S. and U.K., the report reveals trends like the unbundling of financial services, Gen Z's demand for financial education, and rising interest in cryptocurrencies. Key findings indicate that while traditional banks retain customers, there is a shift towards using multiple providers for diverse financial needs.
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