EPAM Systems
| Company type | Public |
|---|---|
| Industry | Software engineering |
| Founded | 1993 |
| Founder | Arkadiy Dobkin, Leo Lozner |
| Headquarters | Newtown, Pennsylvania , United States |
Area served | Worldwide |
Key people | Arkadiy Dobkin (CEO) |
| Products | Software product creation, digital platform engineering, application development, enterprise application services |
Number of employees | Approximately 32,000 (2022) |
| Website | www |
EPAM Systems, Inc. is a United States-based software engineering firm with its headquarters located in Newtown, Pennsylvania. The company focuses on software product creation, digital platform engineering, application development, and enterprise application services. As a founding participant of the MACH Alliance, EPAM maintains a presence worldwide.
Founding and Growth
Established in 1993 by Arkadiy Dobkin and Leo Lozner with initial offices in New Jersey and Minsk, Belarus, EPAM has evolved into a prominent global provider of software engineering services.
By 2002, the firm was acknowledged by Deloitte & Touche as one of the fastest expanding technology enterprises in North America. EPAM went public on the New York Stock Exchange in 2012 under the ticker EPAM.
Key Milestones
In 2004, EPAM expanded its offshore capabilities beyond North America by acquiring Fathom Technology, a Budapest-based software development company.
Two years later, in 2006, Siguler Guff invested equity capital into EPAM to fuel its expansion plans.
Toward the end of 2012, EPAM enhanced its Agile methodologies, business intelligence, and mobile services through the acquisition of Thoughtcorp. Additionally, it established a digital engagement division centered on customer experience, design, and eCommerce by acquiring Empathy Lab.
The year 2018 saw further growth with the purchases of Continuum (now operating as EPAM Continuum) and TH_NK to boost consulting and design expertise. That same year, EPAM introduced InfoNgen®, an AI-driven text analytics and sentiment analysis tool, alongside productizing TelescopeAI®, an AI platform focused on IT operations and workforce management that earned the 2019 Big Innovation Award.
In 2019, EPAM joined the Blockchain in Transport Alliance (BiTA) and launched EPAM Continuum to provide business, experience, and technology consulting services. It also unveiled EPAM SolutionsHub—a collection of software products, accelerators, and open-source platforms—and created the Open Source Contributor Index (OSCI) to rank leading corporate contributors to open source.
Between 2021 and 2022, EPAM pursued strategic acquisitions to broaden its global reach and diversify service offerings. Early in 2021, it acquired PolSource—a Salesforce consulting partner with over 350 professionals across the Americas and Europe. In May 2021, acquisitions included Just-BI from the Netherlands specializing in SAP S/4HANA consultancy; Israeli cybersecurity company White-Hat Ltd.; and Colombia-based S4N to strengthen its Latin American presence. July 2021 saw the purchase of CORE SE to expand operations within Western Europe’s DACH region.
EPAM was incorporated into the S&P 500 index in December 2021.
Continuing its expansion in 2022, EPAM acquired a controlling interest in U.S.-based software company Contino as well as a minority stake in UK artificial intelligence-driven data analytics firm Noodle.io.
Russian invasion of Ukraine
Amidst the 2022 Russian invasion of Ukraine, tensions emerged between EPAM’s workforce comprising approximately 14,000 Ukrainian employees and around 18,000 staff based in Belarus and Russia after the CEO refrained from publicly condemning Russia or endorsing Ukraine’s military efforts. Arkadiy Dobkin defended this position by highlighting the importance of safeguarding EPAM’s infrastructure and personnel within Russia and Belarus from potential political consequences. The company extended support to Ukrainian employees through a $1,000 emergency grant and contributed to relief initiatives such as deploying Starlink satellite systems within Ukraine. Additionally, EPAM established the EPAM Ukraine Assistance Fund and pledged $100 million for humanitarian aid. In April 2022, operations in Russia were discontinued while activities in Belarus continued.
Awards
- EPAM earned a spot on Fortune's list of the 100 Fastest-Growing Companies for three consecutive years: 2019, 2020, and 2021.
- In May 2021, EPAM achieved the rank of 1,804 on the Forbes Global 2000 compilation.
- KMWorld Magazine acknowledged EPAM in 2019 as one of the top 100 influential organizations in the field of knowledge management.