EPAM Expands Capabilities with First Derivative Acquisition
In a significant strategic move, EPAM Systems, Inc. (NYSE: EPAM), a global leader in digital transformation services, has successfully completed the acquisition of First Derivative. This partnership aims to bolster EPAM's delivery capabilities within the financial services sector, enhancing their range of AI and data-driven solutions.
The Importance of this Acquisition
First Derivative, renowned for its expertise in the capital markets, boasts a fully dedicated consulting team that addresses various technology challenges. Their knowledge spans application development, real-time data platforms, robotic process automation, machine learning, and artificial intelligence, all of which are critical for clients navigating the complex landscape of financial services.
Welcoming New Talent
Balazs Fejes, EPAM's President of Global Business and Chief Revenue Officer, expressed excitement about this acquisition, highlighting the integration of First Derivative's skilled team and robust clientele into EPAM's ecosystem. This partnership not only strengthens EPAM's capabilities in digital and cloud services but also positions them as leaders in financial services and capital markets.
The Vision for the Future
With First Derivative's esteemed reputation and profound industry knowledge, EPAM is set to enhance its AI-enabled solutions tailored for banking and regulated financial institutions. David Collins, CEO of First Derivative, emphasized that this collaboration aligns with their shared commitment to innovation and excellence in delivering financial services. Together, they aim to empower operational insights and effectively manage risks in an increasingly data-focused environment.
Details About the Acquisition
This acquisition was made possible through the expert guidance of Stone Key Partners LLC, serving as the financial advisor, and Faegre Drinker as the legal advisor for EPAM. The acquisition marks a substantial expansion of EPAM's service portfolio after fulfilling all customary closing conditions.
More on EPAM's Expansion Strategies
Since its inception, EPAM has always been at the forefront of technological innovation. They leverage cutting-edge tools and platforms to address clients' diverse challenges effectively. Specifically, their offerings in AI, cloud services, and digital engineering have made them a preferred partner for businesses aiming to navigate digital transformation.
About EPAM Systems
Founded in 1993, EPAM Systems, Inc. (NYSE: EPAM) has grown into a powerhouse of digital engineering and transformation solutions. The company's focus on delivering integrated strategies and executing comprehensive technological transformations has enabled countless enterprises and startups to achieve their innovation goals. EPAM's commitment is evident in their globally adept teams, ensuring a local touch while providing worldwide solutions.
Frequently Asked Questions
What is the significance of EPAM's acquisition of First Derivative?
The acquisition significantly enhances EPAM's financial services by integrating First Derivative's expertise in AI and capital markets.
How many employees does First Derivative have?
First Derivative employs over 1,800 people globally, reinforcing their delivery capabilities across various regions.
What technologies does First Derivative specialize in?
First Derivative specializes in application development, real-time data platforms, robotic process automation, and AI solutions.
Who were the advisors for the acquisition?
Stone Key Partners LLC acted as the financial advisor, while Faegre Drinker served as the legal advisor for EPAM in this acquisition.
How does this acquisition impact EPAM's service offerings?
This acquisition broadens EPAM’s portfolio by incorporating First Derivative's strong capabilities, particularly in regulated industries and AI-enabled financial solutions.
