EPAM Systems

EPAM was founded in 1993 by two classmates Arkady Dobkin and Leonid Lozner ^[4] . The name of the company came from "Effective Programming for America". The first offices were opened in the USA and Belarus . Later, offices were opened in Austria , Australia , Armenia , Bulgaria , Belarus , Great Britain , Hungary , Germany , India , Ireland , Kazakhstan , Canada , China , Mexico , the Netherlands , the UAE , Poland , Russia , Singapore , Ukraine , the Czech Republic , Sweden , Switzerland .

Initial public offering

January 25, 2012 announced the start of preparations for an IPO on the New York Stock Exchange . According to the company, the largest block of shares in EPAM Systems can be sold by funds affiliated with investment company Siguler Guff & Co: after an IPO, they will reduce their stake in EPAM Systems from 52.5% to 41.2%. Founder and CEO Arkady Dobkin hoped to sell a 2% stake in the company. In total, EPAM Systems shareholders planned to place up to 14% of the company’s shares. As planned, the company itself will sell another 3.6% of the additional issue shares, and the placement volume will be 17.7% for $ 133.2 million ^[5] .

The IPO took place on February 8 and was rated by analysts as unsuccessful. ^[6] . During the placement, 6 million shares (14.7% of the increased capital) were sold for $ 72 million, or $ 12 per share (EPAM previously announced a price range of $ 16-18 per share). 33% of the shares sold are additional issue. In accordance with the IPO estimate, the cost of the entire company amounted to $ 488 million ^[6] . According to experts, the problem was not in the EPAM business, but in a difficult situation in the markets, especially in Europe .

Just 2 years later, in June 2014, the company's capitalization increased more than four times and amounted to $ 2.14 billion ^[7] . EPAM capitalization in May 2019 amounted to $ 9.39 billion ^[8] .

Acquisitions and Acquisitions

In March 2004, EPAM acquired Fathom Technology in Hungary, and in September 2006 VDI in Russia, forming a single company under the name EPAM Systems with a staff of 2,200 people ^[9] .

In 2012, the company made a number of acquisitions in the North American market, including the Canadian company Thoughtcorp ^[10] and a large provider of services for the development of digital strategies and organization of multi-channel interaction Empathy Lab ^[11] .

In 2014, EPAM acquired the Chinese IT company Jointech (Joint Technology Development Limited), due to which, as follows from the EPAM press release, it expanded its capabilities in the Asia-Pacific region ^[12] and bought an American provider of health and medical services Biological Sector GGA Software Services ^[13] .

In 2015, EPAM Systems took over American companies: NavigationArts , specializing in digital consulting and design, as well as Alliance Global Services, which specializes in the production of software and solutions for automated testing. In connection with this acquisition, EPAM Systems management revised its forecast for revenue upward, expecting it to be at least $ 905 million in 2015 compared to 730 million a year earlier. ^[14]

In 2016, EPAM took over the Chinese company Dextrys, with a staff of 400 employees ^[15] .

In 2018, EPAM took over the American company Continuum , with a staff of more than 150 people ^[16] , as well as the digital agency TH_NK , which is included in the top 100 digital agencies in the UK ^[17] .

Launching Your Own Products

In 2018, EPAM launched InfoNgen ™ 7.0 , an analytic platform with machine learning elements for researching information and conducting competitive data analysis from more than 200,000 multilingual web sources ^[18] , as well as Telescope AI ™ , a scalable modular platform based on artificial intelligence, which helps the business to get a comprehensive picture of the internal processes of the organization.

Recent Transactions

In February 2019, EPAM announced that it would become a leading investor and join the advisory board of the new GO Philly Fund venture fund, which specializes in the development of innovative startups and emerging technology companies. This is one of the regional funds managed by Ben Franklin Technology Partners. ^[nineteen]

Together with Positive, a leading cyber security consulting and research company, EPAM has also created Cyber ​​R&D Lab , which brings together security experts. The new laboratory was first presented on September 22, 2018 in Minsk at the EPAM Software Engineering Conference (EPAM SEC) annual global conference.

Performance Indicators

The company's revenue for 2014 amounted to $ 730.0 million ^[20] .

Revenue for 2015 amounted to $ 914.1 million, profit $ 106.0 million ^[21] .

Revenues for 2016 amounted to 1.16 billion dollars.

Revenues for 2017 amounted to 1.45 billion dollars, net profit - 72.76 million dollars with operating profit of 172.9 million dollars. ^[22]

Revenues for 2018 amounted to 1.84 billion dollars, net profit - 240.3 million dollars. ^[23]

• IT consulting
• Software development
• Application integration
• Porting and Migrating Applications
• Software testing
• Creation of dedicated development centers based on EPAM Systems
• Digital Strategy Development

EPAM is partnering with the United Nations in conducting local and global events aimed at realizing sustainable development goals .

Education

EPAM contributes to the improvement of technical education among children and youth through the EPAM eKids and EPAM University programs.

The EPAM eKids program invites children to learn the basics of Scratch- based programming; trainers are employees of the company who conduct classes in their free time. The program is currently launched in 15 countries. EPAM also works closely with universities through the EPAM University program. Since launching the program in 2004, the company has trained more than 23,500 students from 40 universities in six countries. ^[24]

In 2019, the EPAM educational programs were awarded the Global SDG Award in the nomination “Quality Education” ^[25] ; the company also received the CEE Shared Services Award in the category “Best University-Business Partnership” for the EPAM University program in Belarus ^[26] .

Environmental protection

EPAM supports local environmental initiatives aimed at saving energy and reducing carbon emissions.

It was founded in 1999 as the Higher School of Programming. In the fall of 2006, the training center became an internal unit of EPAM and is now training potential employees. During his work, he trained over 500 professional engineers in the field of software development and testing. Provides training for specialists in the cities: Minsk , Gomel , Vitebsk , Grodno , Brest , Kiev , Lviv , Kharkov , Moscow , St. Petersburg , Izhevsk , Ryazan , Samara , Tolyatti , Saratov , Tver , Karaganda .

In 2019, EPAM was awarded the BIG Innovation Awards for the development of the TelescopeAI product ^[27] , won the Global SDG Awards in the Quality Education nomination, 12 company employees were recognized by Sitecore Most Valuable Professionals (MVPs) ^[28] ; the company was also included in the list of 100 significant companies in the field of knowledge management published by KMWorld Magazine ^[29] .

In 2018 , the company won the MediaPost Appy Award in the Travel and Tourism category ^[30] , and also ranked 14th in the global ranking of companies actively participating in Open Source projects on GitHub ^[31] .

In 2017 , EPAM was again included in the Forbes annual ranking of America’s 25 “Fastest Growing Public Technology Companies in America” ^[32] .

Also in 2017, EPAM entered the IAOP's list of “The Global Outsourcing 100” ^[33] .

According to the results of 2016 , EPAM took 3rd place in the CNews rating “The Largest IT Companies of Russia 2016” ^[34] , as well as 1st place among software developers in the RBC + rating of Russian IT companies (3rd place in the general list ) ^[35] .

In 2016, EPAM entered the TOP-50 of the CRN list “2016 Solution Provider 500” ^[36] .

In 2015 , Forrester in its study identified EPAM as one of the world's leading Agile service providers. Agency experts highlighted the company's serious efforts to develop Agile-training, practices and tools ^[37] .

Also in 2015, in the Kommersant rating, EPAM tops the list of software developers in Russia and is included in the Top 5 companies in the Russian IT market, and also ranks 6th among the largest consulting companies in Russia

In 2014 , EPAM was named the leader in The Forrester Wave: Software Product Development Services, Q1 2014. According to Forrester, “EPAM is ahead of all other vendors in promoting innovation and helping create new innovative products” ^[38] .

In 2013 , the company was included in the Forbes list of “America's 25 Fastest Growing Technology Companies” ^[39] and America's “20 Fastest Growing Technology Stars” ^[40]

According to Kommersant , at the end of 2013, EPAM Systems took 10th place in the general list of the largest IT companies in Russia ^[41] , 1st place in the list of software developers ^[42] , and also 7th place in the rating the largest consulting companies in Russia ^[43] .

According to the Expert RA rating agency, in 2013, the company tops the list of leading software developers ^[44] , takes 8th place in the Russian Consulting rating ^[45] and 10th place in the rating of the largest Russian ICT companies ^[46] .

• Official site of EPAM Systems
• Russian site of EPAM Systems
• Answers Arkady Dobkin to questions from users of Dev.by (neopr.) . // dev.by. Date of treatment February 9, 2012. Archived May 19, 2012.