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April 18, 2008
EPAM acquisition adds financial sector clout
East European outsourcing player EPAM Systems has acquired US-based IT consultancy
B2BITS Corp as it aims to boost its presence in the financial services sector. Although
B2BITS has no direct presence in Europe, its CEO Mark Bisker will head up a new
Capital Markets Competency Center division. Competency Center consultants will be
located in all major financial centers across the US and Europe.
The new business unit is supposed to gain EPAM more face-to-face contact with prospective
customers in a sector sometimes loath to outsource its IT, and then point them in
the direction of its delivery centers in Russia, Hungary, Belarus, and Ukraine.
"The acquisition gives us more opportunities to perform front and middle office
work which clients are normally quite reluctant to offshore," says EPAM CEO Arkadiy
Dobkin. "EPAM has been careful in using targeted acquisitions to improve its service
offering in specific areas."
"We are always on the look-out for the engineering talent specializing in particular
domain knowledge [...] to address specific business needs of corporations in a selected
vertical. Spreading the process consulting service with the focus on financial segment
across EU is a part of our near-term plans," he adds.
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