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.