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EPAM Systems Enhances Financial Services Solutions Through First Derivative Acquisition

EPAM Systems, Inc., a renowned player in digital transformation and product engineering, has taken a significant step in bolstering its financial services landscape. The company recently completed the acquisition of First Derivative, a managed services and consulting firm that specializes in the capital markets sector. Headquartered in Northern Ireland, First Derivative boasts a global workforce of over 1,800 employees and a strong presence across the U.K, Ireland, North America, and the Asia-Pacific region.

Strategic Importance of the Acquisition

This strategic move is not just a testament to EPAM’s commitment to growth but also a viable solution to some pressing challenges faced by clients in an evolving financial sector. With one of the largest dedicated capital markets consulting teams in the world, First Derivative offers a plethora of technological services that encompass application development, data platform modernization, and machine learning. By integrating these capabilities, EPAM aims to deliver improved solutions to its clients in banking, capital markets, and other regulated industries.

Balazs Fejes, President of Global Business at EPAM, expressed enthusiasm about the synergy between the two companies. “We are thrilled to welcome the skilled team from First Derivative into the EPAM family,” he stated. “This partnership marries EPAM's digital capabilities, including AI and cloud services, with First Derivative's expertise in financial services. We see immense potential in leveraging First Derivative’s specialized knowledge and technologies for our broader customer base.”

Empowering Financial Services

The combination of EPAM's advanced technology infrastructure and First Derivative's deep understanding of the capital markets will allow for a comprehensive suite of AI-enabled capabilities. This merger stands to empower clients by providing deeper operational insights, fostering innovation, and enabling effective risk management amidst increasing regulatory demands. David Collins, CEO of First Derivative, echoed this perspective by emphasizing the alignment of their vision with EPAM’s focus on technological innovation. “Together, we are positioned to enhance financial services and operational capacities for clients in a data-driven world,” Collins noted.

Next Steps for EPAM and First Derivative

Moving forward, EPAM plans to harness First Derivative's brand strength and established industry expertise to broaden its service offerings in the financial sector. This acquisition not only reinforces EPAM’s financial services practice but also highlights its adaptability in responding to market demands, ultimately benefiting clients across North America, Europe, and the Asia-Pacific area.

The transition comes after meeting all necessary closing conditions and securing required regulatory approvals, with Stone Key Partners LLC serving as the exclusive financial advisor and Faegre Drinker acting as legal counsel for EPAM during this deal.

About EPAM Systems

Founded in 1993, EPAM has emerged as a leading global provider of digital engineering and transformation services. The firm addresses complex challenges by integrating a strategic approach with over 30 years of engineering execution. EPAM is deeply committed to innovation, focusing on solutions that not only meet client needs but also foster enhanced living standards globally. The company has been recognized for its workplace culture and has made notable impacts in its industry.

With the acquisition of First Derivative, EPAM is poised to deliver transformative results in the financial services sector, leveraging cutting-edge technology and expertise to navigate the complexities of modern financial landscapes. For more information about the acquisition, visit EPAM's official site.

Conclusion

The successful acquisition of First Derivative signals a new chapter for EPAM Systems, with the potential for groundbreaking advancements in financial services. As both companies combine their strengths, market participants can anticipate improved, AI-driven solutions and services tailored to meet the demands of today's fast-paced financial environment.