EPAM Systems to Acquire NEORIS: Expanding Global Reach
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EPAM Systems, Inc. and NEORIS Acquisition Announcement
In an exciting move for the future of technology consulting, EPAM Systems, Inc. (NYSE: EPAM), a leader in digital transformation services, has announced its agreement to acquire NEORIS, a renowned advanced technology consultancy. This strategic acquisition aims to enhance EPAM's delivery capabilities in various regions, notably Latin America and Europe, while providing increased value to clients across multiple industries.
Understanding the Acquisition
The agreement marks a significant turning point for EPAM as it seeks to broaden its expertise and resources across the Americas and Europe. With NEORIS headquartered in Miami and boasting over 4,700 skilled professionals, the acquisition will create new opportunities for growth and will facilitate an even more robust service offering for a diverse client base.
NEORIS: An Overview
Founded more than two decades ago, NEORIS has been instrumental in helping organizations navigate the complex landscape of digital engagement and transformation. The company excels in various sectors such as manufacturing, banking, consumer products, and retail, and utilizes advanced technologies like ML, AI, and data analytics to drive efficiency and innovation.
What This Means for EPAM Clients
The integration of NEORIS into EPAM's operations will strengthen its market offerings, particularly in Spanish and Portuguese-speaking regions. This enhancement aligns perfectly with EPAM's mission to provide exceptional services while solidifying its position as a top-tier player in the technology consulting arena.
Statements from Leadership
Arkadiy Dobkin, CEO and President of EPAM, emphasized the importance of this acquisition, stating, "NEORIS' engineering quality and innovative spirit, coupled with its deep expertise across key industries, make it an invaluable partner. Our collaboration will significantly reaffirm our presence in LATAM and further enhance our delivery capabilities in Europe, India, and APAC."
NEORIS CEO’s Perspective
Martin Mendez, CEO of NEORIS, expressed enthusiasm about the partnership, stating, "This acquisition presents exciting opportunities for growth. By joining forces with EPAM, we can amplify our capacity to lead the global digital transformation wave while delivering top-notch technology solutions to our clients." This sentiment illustrates the synergies that both companies expect will emerge from this collaboration.
Future Expectations and Strategic Vision
Through this acquisition, EPAM and NEORIS aim to accelerate technology and business transformation solutions for an increasingly diverse portfolio. The combined entity is expected to extend its reach in delivering innovative digital solutions to existing and new clients across several industries.
A Sustainable Business Model
The partnership not only focuses on immediate growth opportunities but also emphasizes long-term value creation through sustainable practices and innovation. Both companies share a commitment to fostering a strong digital ecosystem that enhances customer experiences around the globe.
About EPAM Systems
EPAM Systems, established in 1993, has emerged as a transformative force in digital engineering and consulting. The company specializes in helping enterprises accelerate their digital initiatives by harnessing advanced technologies and comprehensive strategies. With a dedication to improving client outcomes through innovative solutions, EPAM is consistently recognized among the top players in the technology sector.
Frequently Asked Questions
1. What is the focus of EPAM Systems after acquiring NEORIS?
EPAM Systems is focusing on enhancing its delivery capabilities across Latin America and Europe to better serve its global clients.
2. How will this acquisition benefit clients?
The acquisition will strengthen EPAM's service offerings, especially in Spanish and Portuguese-speaking markets, allowing for more tailored solutions for clients.
3. What industries does NEORIS serve?
NEORIS serves multiple industries, including manufacturing, banking, retail, and telecommunications.
4. How does EPAM plan to integrate NEORIS?
EPAM plans to integrate NEORIS by leveraging its existing expertise and resources while enhancing its technology consulting capabilities.
5. What is the long-term vision for this acquisition?
The long-term vision is to create a robust digital ecosystem that drives innovation and enhances customer experiences on a global scale.
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