EPAM Expands Financial Services with First Derivative Buyout

EPAM Systems Enhances Capabilities with First Derivative Acquisition

EPAM Systems, Inc. (NYSE: EPAM), renowned for its digital transformation services, has completed a notable strategic acquisition of First Derivative. This acquisition significantly bolsters EPAM's capabilities in delivering comprehensive financial services solutions across multiple continents, including North America, Europe, and APAC.

First Derivative, headquartered in Northern Ireland, is a prominent player in managed services and consulting specifically dedicated to the capital markets sector. With over 1,800 skilled professionals globally, the firm excels in deploying innovative technology solutions to help clients tackle their most pressing technology challenges. These include advanced application development, modernization efforts, real-time data analytics, and automated processes incorporating machine learning and AI.

Balazs Fejes, President of Global Business and Chief Revenue Officer at EPAM, expressed excitement about the acquisition. He remarked, "We are eager to integrate First Derivative's exceptional team and established client base into EPAM. This synergy will combine our extensive capabilities in AI, digital solutions, and cloud technologies with First Derivative's specialized knowledge in the financial services sector. Together, we envision tremendous opportunities to enhance our offerings in regulated industries by leveraging their expertise in specialized software solutions for a wider audience."

Leveraging Expertise for Enhanced Client Services

Through this acquisition, EPAM plans to utilize First Derivative's deep industry experience to provide tailored AI-enabled capabilities across banking, capital markets, and other regulated sectors. The focus is to empower clients with innovative tools designed to deliver operational insights while adeptly managing the complexities of modern financial landscapes.

David Collins, the CEO of First Derivative, expressed his enthusiasm as well: "Joining forces with EPAM is a commendable step forward, as both firms share a commitment to driving technological innovation. Our collaboration is set to enhance the financial services landscape by delivering smarter solutions that foster operational efficiency and mitigate risks, especially in a world increasingly reliant on data-driven insights."

Details of the Strategic Acquisition

Key advisory roles were played by Stone Key Partners LLC, serving as the exclusive financial advisor, and Faegre Drinker, acting as the legal advisor for EPAM during this transaction. The acquisition successfully navigated the usual closing conditions necessary for completion, including receiving required regulatory approvals.

Exploring Financial Services Growth

This strategic acquisition marks a pivotal moment for EPAM as it seeks to amplify its financial services capabilities. The integration of First Derivative will undoubtedly allow EPAM to further enhance the solutions it offers in an ever-evolving market landscape. This will not only strengthen their service delivery but also create a robust platform for addressing the dynamic needs of their clients in the financial sectors.

About EPAM Systems, Inc.

Founded in 1993, EPAM Systems, Inc. (NYSE: EPAM) has established itself as a leader in digital engineering, cloud-based solutions, and AI transformation services. They cater to a variety of clients, ranging from large enterprises to emerging startups, helping them navigate the complexities of technological advancements. EPAM’s commitment to delivering integrated strategies ensures that clients gain maximum value from their innovative initiatives and digital investments.

EPAM is recognized not only for its expertise in technology but also for its strong emphasis on enhancing people's lives through improved solutions. With a presence across six continents, their multidisciplinary teams are committed to making tangible impacts in clients’ operations and fostering competitive advantages across various industries.

Frequently Asked Questions

What was the purpose of EPAM's acquisition of First Derivative?

The acquisition aims to enhance EPAM's financial services by adding First Derivative's expertise in managed services and consulting for the capital markets industry.

How many employees does First Derivative have?

First Derivative has over 1,800 employees worldwide.

What technologies does First Derivative specialize in?

First Derivative specializes in application development, modernization, real-time data platforms, robotic process automation, machine learning, and artificial intelligence.

Who is Balazs Fejes?

Balazs Fejes is the President of Global Business and Chief Revenue Officer at EPAM Systems, guiding the company's growth and strategy in digital transformation.

What are the expected benefits of this acquisition for EPAM's clients?

Clients can expect enhanced operational insights, improved risk management, and innovative solutions tailored for regulated industries through the capabilities that First Derivative brings to EPAM.

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