EPAM News

EPAM Expands Open-Source Digital Services with Zend and Acquia

Thu Jun 13 00:00:00 FET 2013

Newtown, PA — June 13, 2013 – EPAM Systems, Inc. (NYSE:EPAM), a leading provider of complex software engineering solutions and a leader in Central and Eastern European IT service delivery, announced its partnerships with Zend and Acquia, two of the world’s leading open-source technology companies.

EPAM Systems Wins Duke’s Choice Award at JavaOne Russia 2013

Tue Jun 11 00:00:00 FET 2013

Newtown, PA—June 11, 2013—EPAM Systems, Inc. (NYSE:EPAM), a leading provider of complex software engineering solutions and a leader in Central and Eastern European IT service delivery, received a Duke’s Choice Award at JavaOne Russia 2013. At the event, Oracle recognized companies for their innovative projects and significant contribution to the Java community. The Award winners were announced on April 23, in Moscow as part of the regional JavaOne conference series.

EPAM Named #6 on Forbes' List of America's 25 Fastest-Growing Tech Companies

Tue Jun 11 00:00:00 FET 2013

Newtown, PA—June 11, 2013—EPAM Systems, Inc. (NYSE:EPAM), a leading provider of complex software engineering solutions and the leader in Central and Eastern European IT service delivery, announces that it was named to Forbes’ annual list of America’s 25 Fastest-Growing Tech Companies.

EPAM Innovation Lab Wins IT Outsourcing Project of the Year at 2013 EOA Awards and Best Practice Showcase

Thu Jun 06 00:00:00 FET 2013

Newtown, PA—June 6, 2013—EPAM Systems, Inc. (NYSE:EPAM), a leading provider of complex software engineering solutions and the leader in Central and Eastern European IT service delivery, announces the Innovation Lab project it created with long standing client Wolters Kluwer, has won in the IT Outsourcing Project of the Year category at the 2013 European Outsourcing Association Awards and Best Practice Showcase. The winners in 11 nominations were announced in Amsterdam, Netherlands, on April 25, during the annual EOA Awards ceremony that celebrates best pan-European IT practices.

EPAM Systems Reports Results for First Quarter 2013

Thu May 09 00:00:00 FET 2013

First quarter revenues up 32% year-over-year

EPAM Enters Top 30 in 2013 Global Outsourcing 100 List

Wed May 08 00:00:00 FET 2013

Newtown, PA — May 8, 2013 – EPAM Systems, Inc. (NYSE:EPAM), a leading provider of complex software engineering solutions and a leader in Central and Eastern European IT service delivery, today announced it has been ranked #29 in The 2013 Global Outsourcing 100® List. The ranking is arranged annually by International Association of Outsourcing Professionals® (IAOP®), a global professional organization recognizing the world’s best outsourcing service providers and advisors.

EPAM Receives Oracle Commerce Top Business Impact Award 2012

Mon Apr 29 00:00:00 FET 2013

Newtown, PA—April 29, 2013—EPAM Systems, Inc. (NYSE:EPAM), a leading provider of complex software engineering solutions and the leader in Central and Eastern European IT service delivery, received an Oracle “Top Business Impact Partner, EMEA - 2012” award during the 5^th Annual Oracle Commerce EMEA Partner Conference in Lisbon on April 17th.

German Alekseev, CIO at Sportmaster: “Clients Force Us to Change Retail Models Drastically”

Wed Apr 24 17:11:00 FET 2013

In Autumn 2012, Sportmaster Group of Companies created an e-commerce channel for O’STIN, one of its brands. What were the reasons? What were the challenges that the company faced? How important is the transition from multi- to omni-channel distribution for the Russian retail industry? More about this in the CNews interview with German Alekseev, CIO at Sportmaster Group of Companies.

EPAM Systems, Inc. Announces Date For First-Quarter 2013 Earnings Release and Conference Call

Tue Apr 23 00:00:00 FET 2013

Newtown, PA - April 23, 2013 - EPAM Systems, Inc. (NYSE: EPAM), a leading provider of complex software engineering solutions and a leader in Central and Eastern European IT service delivery, today announced plans to release its first quarter 2013 results after the market closes on Wednesday, May 8, 2013. The Company will host a conference call to discuss results on Thursday, May 9, 2013 at 8:00 a.m. Eastern Time.

EPAM Helps L’Etoile Open a New Online Store

Wed Apr 10 22:19:00 FET 2013

Newtown, PA—April 10, 2013—EPAM Systems, Inc. (NYSE: EPAM), a leading provider of complex software engineering solutions and a leader in Central and Eastern European IT service delivery, helped launch a new L’Etoile online store www.letu.ru. L’Etoile is Russia’s largest cosmetics and perfumery network.

EPAM Develops the Largest Website Built on the Kentico Platform for TUI Russia and CIS

Wed Apr 10 22:19:00 FET 2013

Newtown, PA—April 10, 2013—EPAM Systems, Inc. (NYSE:EPAM), a leading provider of complex software engineering solutions and a leader in Central and Eastern European IT service delivery, developed a tourist portal www.tui.ru for TUI Russia & CIS in 2012. The portal was recognized as the largest website to be designed on the Kentico CMS platform. The website has more than one million visitors every week allowing the users to find (holidays across the world and book them online. The project helped TUI Russia & CIS make their brand more recognizable, turn more visitors into customers and strengthen their loyalty.

Retrieving Large Volumes of Data

Mon Apr 08 17:04:00 FET 2013

Today’s database systems are being asked to store more information than ever before. According to research firm IDC, the size of data — which it calls the “digital universe” — will grow to 2.7 zetabytes in 2012, up 48 percent from 2011’s record year. This growth is unprecedented, and we must be able to manage databases that contain significantly more information that needs to be retrieved in less and less time. It is more important than ever to understand the options Oracle provides to users within the database that can truly empower your applications regardless of the size of your data sets.

EPAM Empathy Lab Selected as One of the Top 100 Workplaces for 2013

Tue Mar 19 22:19:00 FET 2013

Newtown, PA – March 19, 2013 – EPAM Empathy Lab (NYSE:EPAM), an integrated digital strategy and execution practice of EPAM Systems Inc. (NYSE:EPAM), and one of the world’s leading digital consultancies focused on ecommerce and broadband solutions across all connected devices – is proud to be recognized for a second year in a row as one of the leading places to work in the Philadelphia region.

The designation is a result of an effort conducted by Philly.com, who enlisted WorkplaceDynamics to ask employees around the surrounding area to rate their bosses and companies. Individuals were asked to anonymously respond to questions around compensation, company culture, corporate vision and opportunities available for their personal growth.

"This has been an extremely challenging year for us: we expanded our team, revolutionized our process and took on several new large and complex client initiatives,” said Kevin Labick, Global Head of Digital Strategy and Experience Design, EPAM Empathy Lab. “To have our team rate EPAM Empathy Lab as one of the best places to work in Philadelphia after all that is incredibly gratifying."

Much of EPAM Empathy Lab’s work has required breaking new ground. This includes initiatives like re-envisioning and replatforming the American Red Cross onto Oracle, designing Style Media’s QuickTips application – the TV network’s first-ever foray onto the Windows 8 platform, and consistent efforts to improve the TV Everywhere experience for clients across the globe. The company’s culture of experimentation and thoughtful risk-taking empowers employees to solve problems that have no easy answers. This requires a collective mindset with a large amount of trust, collaboration, agility and tenacity to succeed.

EPAM Empathy Lab’s profile for “Top Workplaces 2013” can be found at: http://www.topworkplaces.com/frontend.php/regional-list/company/philly/empathy-lab

M.Video Selects Oracle Commerce Solutions to Support Growth and Develop a Complete Customer Experience

Thu Mar 14 22:19:00 FET 2013

Large Russian Consumer Electronics Retailer Will Use Oracle to Engage Customers at Every Touch Point

EPAM Systems Reports Record Results for Fourth Quarter and Full Year 2012

Wed Feb 27 00:00:00 FET 2013

Fourth Quarter revenues up 14% sequentially and 32% year-over-year

EPAM Systems, Inc. Announces Date For Fourth-Quarter 2012 Earnings Release and Conference Call

Mon Feb 11 00:00:00 FET 2013

Newtown, PA - February 11, 2013 - EPAM Systems, Inc. (NYSE: EPAM), a leading provider of complex software engineering solutions and a leader in Central and Eastern European IT service delivery, today announced plans to release its fourth quarter 2012 results after the market closes on Wednesday, February 27, 2013. The Company will host a conference call to discuss results on Thursday, February 28, 2013 at 8:00 a.m. Eastern Time.

EPAM Recognized by Cloudcor® in Best Cloud System Integrator 2012 and Best Mobile Solution 2012 categories

Thu Jan 31 22:19:00 FET 2013

Newtown, PA - January 31, 2013 - EPAM (NYSE:EPAM), a leading provider of complex software engineering solutions and a leader in Central and Eastern European IT service delivery, has announced that it has been recognized by a global community of cloud experts at the UP Cloud Conference in San Francisco in December 2012 conducted by Cloudcor®. EPAM was the recipient of two awards: Best Cloud System Integrator 2012 and Best Mobile Solution 2012.

EPAM Joins Windows Azure Circle Partner Program

Tue Jan 29 16:39:00 FET 2013

Newtown, PA—January 29, 2013—EPAM (NYSE:EPAM), a leading provider of complex software engineering solutions and a leader in Central and Eastern European IT service delivery, today announced it has been selected to join the Windows Azure Circle Partner program, a group of specialized Microsoft partner organizations that provide deployment planning services for organizations interested in moving to the cloud utilizing Windows Azure.

EPAM Named to Top Technology Integrators UBM Channel’s Solution Provider 500 List

Mon Jan 28 11:40:00 FET 2013

Newtown, PA, January 28, 2013—EPAM (NYSE:EPAM), a leading provider of complex software engineering solutions and a leader in Central and Eastern European IT service delivery, today announced that it has been recognized by UBM Channel as a part of CRN’s 2012 Solution Provider 500 list, which ranks the top technology integrators in North America. Formerly known as the “VAR 500,” the Solution Provider 500 ranks the highest producing solution provider organizations in the IT channel from hardware sales, software sales, and managed IT services. EPAM Systems is included in the TOP 100 part of the annual ranking.

EPAM Named to the 500 Fastest Growing Companies in North America Deloitte’s 2012 Technology Fast 500™ List

Fri Jan 25 11:45:00 FET 2013

Newtown, PA, January 25, 2013—EPAM (NYSE:EPAM), a leading provider of complex software engineering solutions and a leader in Central and Eastern European IT service delivery, today announced its inclusion in the Deloitte’s Technology Fast 500™ ranking—a list of the 500 fastest growing technology, media, telecommunications, life sciences, and clean technology companies in North America. EPAM's revenues grew by 193% from 2007 to 2011.

Redcross.org exceeds concurrent usage records during Hurricane Sandy response

Mon Jan 14 00:00:00 FET 2013

Redcross.org, designed by Empathy Lab and built on Oracle’s ATG Web Commerce, a component of Oracle Commerce, hosts 75,000 concurrent users during the peak online activity point of the large disaster response.

TriZetto, a leader in healthcare IT solutions, selected EPAM as a strategic software development partner

Thu Jan 10 00:00:00 FET 2013

Newtown, PA — January 10, 2013—EPAM (NYSE:EPAM), a leading provider of complex software engineering services and solutions and the leader in Central and Eastern European IT delivery, today announced that it was selected as a software engineering and product development partner by TriZetto Corporation, a company which has been innovating healthcare IT since 1997. Today, TriZetto delivers solutions and services that simplifies healthcare for everyone, improves collaboration among payers and providers, and enables greater efficiency and effectiveness in healthcare. As a result of this selection, EPAM will assist TriZetto in developing solutions that help healthcare organizations access a comprehensive array of capabilities necessary to meet today’s challenges of the evolving healthcare market.

EPAM to Present at the 15th Annual Needham Growth Conference

Thu Jan 10 00:00:00 FET 2013

Newtown, PA, January 10, 2013 - EPAM Systems, Inc. (NYSE: EPAM), a leading provider of complex software engineering services and solutions and the leader in Central and Eastern European IT delivery, today announced that management will present at the following investor conference:

EPAM Acquires Digital Strategy and Execution Firm, Empathy Lab

Tue Dec 18 00:00:00 FET 2012

Strengthens Position as Global Provider of End-to-End Digital Services and Multi-Channel Solutions

EPAM Recognized as a Global R&D and Product Development Services Leader for Enterprise Mobility and Cloud Verticals

Fri Dec 14 19:49:00 FET 2012

Newtown, PA, December 14, 2012—EPAM (NYSE:EPAM), a leading provider of complex software engineering solutions and a leader in Central and Eastern European IT service delivery, today announced it has been recognized by Zinnov, a management consulting firm, as a leader in global R&D and Product Development Services for Enterprise Mobility and Cloud Verticals.

EPAM is a Proud Gold Sponsor and Participant at the Agile Tour Toronto 2012 Conference

Thu Nov 22 19:49:00 FET 2012

Newtown, PA, November 22, 2012—EPAM (NYSE:EPAM), a leading provider of complex software engineering solutions and a leader in Central and Eastern European IT service delivery, is honored to participate and sponsor this year’s Agile Tour Toronto 2012 held November 26 at the Toronto Hilton.

EPAM Systems Reports Third Quarter 2012 Results

Thu Nov 08 00:00:00 FET 2012

Third quarter revenues of $110 million up 6% sequentially, and 27% year-over-year;

EPAM Systems, Inc. Announces Date For Third-Quarter 2012 Earnings Release and Conference Call

Thu Oct 25 00:00:00 FET 2012

Newtown, PA - October 25, 2012 - EPAM Systems, Inc. (NYSE: EPAM), a leading provider of complex software engineering solutions and a leader in Central and Eastern European IT service delivery, today announced plans to release its third quarter 2012 results after the market closes on Thursday, November 8, 2012. The Company will host a conference call to discuss results on Friday, November 9, 2012 at 8:00 a.m. Eastern.

EPAM E-Commerce Center Helps Sephora Attract Online Customers

Wed Oct 24 14:50:00 FET 2012

Newtown, PA – October 24, 2012 – EPAM (NYSE:EPAM), a leading provider of complex software engineering solutions and a leader in Central and Eastern European IT service delivery, announced the successful launch of Sephora’s e-commerce Website. This project was a result of EPAM’s collaboration with Sephora USA, the North American division of the world’s leading retailer of cosmetics and beauty products.

Software Magazine Ranks EPAM Among World’s Largest Software and Service Provider Companies

Thu Oct 18 17:05:00 FET 2012

Newtown, PA - October 18, 2012 – EPAM (NYSE:EPAM), a leading provider of complex software engineering solutions and a leader in Central and Eastern European IT service delivery, today announced its inclusion in Software Magazine’s Software 500 ranking of the world’s largest software and service providers.

EPAM Recognized Among Top 250 Technology Innovators Across America

Tue Oct 16 17:05:00 FET 2012

Newtown, PA — October 16, 2012 — EPAM (NYSE:EPAM), a leading provider of complex software engineering solutions and a leader in Central and Eastern European IT service delivery, today announced its inclusion in InformationWeek 500, an annual listing of the nation’s most innovative users of business technology. EPAM was recognized for designing and implementing a suite of innovative systems to support globally distributed software engineering services delivery. The 2012 list was revealed on September 11, 2012 at a gala awards ceremony at the exclusive InformationWeek 500 Conference which took place at the St. Regis Monarch Beach Resort, Dana Point, CA.

EPAM Canada Wins Bronze Prize on CDN’s Channel Elite Awards for Best Mobile Solution

Mon Oct 15 17:05:00 FET 2012

Newtown, PA — October 15, 2012 — EPAM (NYSE:EPAM), a leading provider of complex software engineering solutions and a leader in Central and Eastern European IT service delivery, has announced that EPAM Canada was selected as the Bronze Winner of Best Mobile Solution at the 2012 CDN Awards Gala. CDN, Canada’s No.1 IT channel publication ranks Canadian Solution Providers in ten categories including Best Enterprise Solution, Best Cloud Computing Solution, Best Collaborative Solution and Best Mobile Solution. The annual awards gala recognizes excellence across the large and diverse community of Canadian technology partners. Winners were announced at a gala event in Toronto on September 11, 2012.

EPAM recognized as a Leader in Product Development, Application Development, and Testing Services Categories on 2012 Global Services 100 list

Fri Sep 14 19:56:00 FET 2012

Newtown, PA — September 14, 2012 — EPAM Systems, Inc. (NYSE:EPAM), a leading software engineering and IT Outsourcing (ITO) provider with development centers across Central and Eastern Europe (CEE), has announced today that it has been named an IT Services Leader in “Global Product Development”, “Top Mid-Tier ADM Companies”, and “Top Mid-market Enterprise Applications Deployment” categories. EPAM also has been recognized as a leader in “Mid-Tier Leaders – Testing Services". Marking its seventh consecutive appearance on the GS100 list, EPAM reaffirms its CEE leadership status in the software engineering services space as well as establishing itself as a global leader in very distinguished Product Development category.

EPAM Systems and Thomson Reuters announced a partnership to develop and host an App Store solution

Thu Sep 13 19:56:00 FET 2012

Newtown, PA – September 13, 2012 – EPAM Systems (NYSE: EPAM), a leading software engineering and IT Outsourcing (ITO) provider with development centers across Central and Eastern Europe (CEE), announced yesterday at Finovate Fall a partnership with Thomson Reuters to develop and host an App Store solution enabling an access to the latest innovative capabilities and tools around financial data for use across the digital enterprise. Finovate is a two-day showcase of the best new innovations in financial and banking technology industry.

Chevron and EPAM co-present at Gartner Outsourcing & Strategic Partnerships Summit 2012

Tue Sep 11 15:39:00 FET 2012

Newtown, PA – September 11, 2012 – EPAM Systems (NYSE: EPAM), a leading software engineering and IT Outsourcing (ITO) provider with development centers across Central and Eastern Europe (CEE), announced that Chevron and EPAM Systems will co-present at the Gartner Outsourcing & Strategic Partnerships Summit 2012 in Orlando, Florida on September 12th. The presentation will provide attendees with insights on how Chevron works with suppliers as a part of its ‘Chevron Way’ philosophy and how one of the world's leading integrated energy companies utilizes value-added services.

EPAM & Hotels.com reaffirm EPAM's status as a strategic delivery partner for Hotels.com

Tue Aug 14 15:39:00 FET 2012

Newtown, PA – August 14, 2012 – EPAM Systems, Inc. (NYSE: EPAM), a global software engineering and IT Outsourcing (ITO) provider with development centers across Central and Eastern Europe (CEE), and Hotels.com today reaffirmed EPAM’s status as a Hotels.com^® strategic delivery partner. Working alongside Hotels.com, EPAM is one of the few selected partners that provides engineering services for the Hotels.com brand.

EPAM Recognized as a Global R&D and Product Development Services Leader for Enterprise and Consumer Software Markets

Mon Aug 13 12:57:00 FET 2012

Newtown, PA — August 13, 2012 — EPAM Systems, Inc. (NYSE: EPAM), a global software engineering and IT Outsourcing (ITO) provider with development centers across Central and Eastern Europe (CEE), was recognized among the Top 10 Market Leaders in Industry Verticals by Zinnov’s “Global R&D Service Providers Rating (GSPR) 2012”. GSPR 2012 is an annual study by Zinnov, a leading Globalization and Market Expansion Advisory firm, which delivers a comprehensive analysis of the service provider landscape in the Electronic Research & Development and Professional Engineering Services (ER&D/PES) space.

EPAM Systems Reports Second Quarter 2012 Results

Fri Aug 03 00:00:00 FET 2012

EPAM Climbs 20 Spots Up in The 2012 Global Outsourcing 100 List

Thu Aug 02 12:52:00 FET 2012

Newtown, PA – August 2, 2012 – EPAM Systems, Inc. (NYSE:EPAM), a global software engineering and IT Outsourcing (ITO) provider with development centers across Central and Eastern Europe (CEE), today announced it has been ranked #37 on The 2012 Global Outsourcing 100® list. This ranking is held annually by the International Association of Outsourcing Professionals® (IAOP) to reveal the world's best outsourcing service providers and advisors.

EPAM Joins OpenTravel Alliance to Contribute to Travel Industry Standards

Fri Jul 20 14:45:00 FET 2012

Newtown, PA – July 20, 2012 – EPAM Systems, Inc. (NYSE: EPAM), a global software engineering and IT Outsourcing (ITO) provider with development centers across Central and Eastern Europe (CEE), today announced its membership in the OpenTravel Alliance. OpenTravel is a non-profit organization committed to simplifying communication between disparate systems in the global Travel industry by developing standard electronic messaging structures.

EPAM Systems, Inc. Announces Date For Second-Quarter 2012 Earnings Release and Conference Call

Wed Jul 18 00:00:00 FET 2012

Three Gold SharePoint competencies achieved by EPAM Microsoft Competency Center

Wed Jul 11 12:11:00 FET 2012

Newtown, PA – July 10, 2012 – Today, EPAM Systems, Inc. (NYSE:EPAM) announced it has achieved three Gold SharePoint Competencies from Microsoft: Portals and Collaboration, Digital Marketing, and Search.

EPAM Systems to Acquire Thoughtcorp, Expand North American Footprint, Gain Entrance into Telecommunication Industry and Expand Agile, Business Intelligence, and Mobile Competencies

Wed May 23 12:43:00 FET 2012

Newtown, PA — May 23, 2012 – EPAM Systems, Inc. (NYSE: EPAM), a leading software engineering and IT Outsourcing (ITO) provider with development centers across Central and Eastern Europe (CEE), today announced it has agreed to acquire Thoughtcorp, a premier IT Consultancy and Software Solution Provider based in Toronto, Canada.

EPAM Systems to Participate at Upcoming Investor Conferences

Fri May 18 13:58:00 FET 2012

NEWTOWN, PA, May 18, 2012 – EPAM Systems, Inc. (NYSE: EPAM), a leading software engineering and IT outsourcing (ITO) provider with development centers across Central and Eastern Europe (CEE), today announced it will participate in the following upcoming investor conferences. Specifics regarding each conference are as follows:

EPAM Mobile Competency Center Partners with Netbiscuits

Tue May 15 15:29:00 FET 2012

Newtown, PA — May 15, 2012 — EPAM Systems, Inc. (NYSE:EPAM), a leading software engineering and IT Outsourcing (ITO) provider with development centers across Central and Eastern Europe (CEE), today announced a partnership with Netbiscuits, the world’s leading cloud based platform for the development and delivery of next generation web apps across all mobile and connected devices.

EPAM Achieves a Microsoft Gold Business Intelligence Competency

Tue May 15 15:14:00 FET 2012

EPAM demonstrates best-in-class capability and market leadership through demonstrated technology success and customer commitment.

EPAM Systems Reports First Quarter 2012 Results

Tue May 08 23:40:00 FET 2012

EPAM Content Center and eZ Systems partner to bring open-source content management to enterprise

Wed May 02 15:32:00 FET 2012

Newtown, PA – May 02, 2012 – EPAM Systems (NYSE: EPAM), a leading software engineering and IT services provider with development centers across Central and Eastern Europe (CEE), announced today a partnership with eZ Systems, a Norwegian web content and customer experience management provider.

EPAM Achieves Gold Level Status in Oracle PartnerNetwork (OPN)

Tue Apr 24 19:01:00 FET 2012

Newtown, PA — April 24, 2012 — EPAM Systems, Inc. (NYSE:EPAM), a leading software engineering and IT outsourcing provider with development centers across Central and Eastern Europe (CEE), announces it has achieved Gold level status in Oracle PartnerNetwork (OPN). By attaining Gold Level membership, Oracle has recognized EPAM Systems for its commitment to acquiring Oracle-related knowledge in order to provide a host of Oracle-based solutions and services to its clients. Oracle recognizes EPAM for its deep expertise and experience in providing implementations for a broad range of Oracle solutions and its commitment to further enhancing its sizeable delivery capabilities for Oracle platform users.

EPAM Systems, Inc. Announces Date for First-Quarter 2012 Earnings Release and Conference Call

Tue Apr 24 12:56:00 FET 2012

Newtown, PA - April 24, 2012 - EPAM Systems, Inc. (NYSE: EPAM), a leading software engineering and IT Outsourcing (ITO) provider with development centers across Central and Eastern Europe (CEE), today announced plans to release its first quarter 2012 results before the market opens on Tuesday, May 8, 2012, to be followed by a conference call to discuss results at 8:00 a.m. (Eastern).

The live conference call can be accessed by dialing 877-941-4774 (domestic) or 480-629-9760 (international). A telephonic replay will also be available approximately one hour after the call and can be accessed by dialing 877-870-5176 (domestic) or 858-384-5517 (international). The passcode for the live call and the replay is 4533967. The telephonic replay will be available until May 15, 2012.

Interested investors and other parties may also listen to a simultaneous webcast of the conference call by logging onto the Investor Relations section of the Company's website at http://investors.epam.com.

About EPAM Systems

Established in 1993, EPAM Systems, Inc. (NYSE: EPAM) is a leading global IT services provider with delivery centers throughout Central and Eastern Europe. Headquartered in the United States, EPAM employs over 7,000 IT professionals and provides services to clients worldwide using a global delivery model through its client management and delivery operations in the United States, Belarus, Hungary, Russia, Ukraine, UK, Germany, Kazakhstan, Sweden, Switzerland and Poland.

Forward-Looking Statements

This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. EPAM undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.

Big Data Boot Camp

Thu Apr 19 14:32:00 FET 2012

An early adopter shares big data expertise at COLLABORATE 12.

Ian Abramson, a former president of the Independent Oracle Users Group (IOUG) has a new title: drill sergeant. Abramson, a director of enterprise data at Oracle partner Thoughtcorp, a company acquired by EPAM Systems, is an early adopter of big data methods and technologies and was tapped by IOUG, the world’s largest Oracle technology user group, to lead the Big Data Boot Camp at this year’s COLLABORATE conference in Las Vegas, Nevada, April 22–26. Big Data Boot Camp sessions take place on April 23 and 24.

EPAM Big Data Competency Center and 10gen partner to bring MongoDB to mission-critical enterprise applications

Thu Apr 12 16:40:00 FET 2012

Newtown, PA — April 12, 2012 — EPAM Systems, Inc. (NYSE:EPAM), a leading software engineering and IT Outsourcing (ITO) provider with development centers across Central and Eastern Europe (CEE), today announced a partnership with 10gen, the company behind the leading open-source non-relational database MongoDB.

The partnership between 10gen and EPAM will serve organizations looking for alternatives to relational databases. 10gen offers compelling advantages to the enterprise - agility in database development, unparalleled scalability in deployment, and community supporting the open-sourced product. Thousands of leading Web 2.0 and Fortune 500 companies, including Disney, Viacom, Intuit and Foursquare have already adopted MongoDB due to this support. By providing solution architecture, development, integration and maintenance services for MongoDB, EPAM Big Data Competency Center afford the backing and scalability companies need to integrate their product into mission critical applications.

"Big Data and online channel optimization trends will continue to drive the explosive growth in the use of the non-relational tools", said Alex Lyashok, Vice President, Technology Solutions of EPAM Systems. "MongoDB plays a crucial role in this ecosystem and EPAM is aggressively investing in the 10gen relationship. Services we provide to 10gen and our customers help mature the use of the product and ensure the best possible outcome for the clients".

"10gen is committed to working with EPAM across the globe to ensure that MongoDB is available on a variety of clouds and platforms, is well integrated with popular hardware and software, and that a growing number of businesses around the world develop and deploy MongoDB-based solutions.", said Ben Sabrin, VP of Sales at 10gen.

About 10gen

10gen is the initiator, contributor and continual sponsor of MongoDB, offering production support, training, consulting and online management services, for the database. 10gen is funded by Sequoia Capital, Flybridge Capital Partners, and Union Square Ventures.

EPAM Content Center partners with ADAM Software to bring marketing technology to the enterprise

Wed Apr 04 10:32:00 FET 2012

EPAM Systems is partnering with ADAM Software to help accelerate the adoption of the digital asset management technology in marketing.

EPAM Systems Reports Earnings Results for Fiscal Fourth Quarter and Full Year 2011

Tue Mar 27 16:35:00 FET 2012

EPAM Systems, Inc. Announces Date for Fourth Quarter and Full Year 2011 Earnings Call

Wed Mar 14 16:35:00 FET 2012

EPAM Systems, Inc. Prices Initial Public Offering of Common Stock

Thu Feb 09 16:35:00 FET 2012

Newtown, PA — February 9, 2012 – EPAM Systems, Inc. (the “Company”) announced on February 7, 2012 the pricing of its initial public offering of 6,000,000 shares of common stock at a price to the public of $12.00 per share. The Company is offering 2,000,000 shares of common stock and the selling stockholders are offering an aggregate of 4,000,000 shares of common stock. The Company has also granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock to cover over-allotments, if any. The shares of common stock will trade on the New York Stock Exchange under the symbol “EPAM.”

EPAM Systems Celebrates IPO on the New York Stock Exchange

Wed Feb 08 16:25:00 FET 2012

EPAM Achieves a Microsoft Gold Mobility Competency in the Microsoft Partner Network

Wed Feb 01 16:10:00 FET 2012

EPAM Systems, Inc. Commences Initial Public Offering of Common Stock

Tue Jan 24 16:58:00 FET 2012

Newtown, PA — January 24, 2012 – EPAM Systems, Inc. (the “Company”) today announced the launch of its initial public offering of 7,400,000 shares of common stock. Subject to market and other conditions, the Company expects to sell 1,517,647 shares of common stock and the selling stockholders expect to sell an aggregate of 5,882,353 shares of common stock. The Company also expects to grant the underwriters a 30-day option to purchase up to an additional 1,110,000 shares of common stock to cover over-allotments, if any. The estimated initial public offering price is between $16.00 and $18.00 per share. The Company has applied to list the shares of common stock on the New York Stock Exchange under the symbol “EPAM.”

The Company intends to use the net proceeds that it receives from this offering for general corporate purposes, such as for working capital, for acquiring facilities, and for potential strategic acquisitions of, or investments in, other businesses or technologies that it believes will complement its current business and expansion strategies. The Company will not receive any of the proceeds from the sale of common stock by the selling stockholders.

Citigroup, UBS Investment Bank, Barclays Capital and RenCap will act as joint book-running managers for the offering, with Stifel Nicolaus Weisel and Cowen and Company acting as co-managers.

The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the offering may be obtained for free by visiting the Securities and Exchange Commission’s website at www.sec.gov.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Established in 1993, EPAM Systems, Inc. is a leading global IT services provider with delivery centers throughout Central and Eastern Europe. Headquartered in the United States, EPAM employs over 7,000 IT professionals and provides services to clients worldwide using a global delivery model through its client management and delivery operations in the United States, Belarus, Hungary, Russia, Ukraine, UK, Germany, Kazakhstan, Sweden, Switzerland, and Poland.

Contacts: 
EPAM Systems, Inc.
Phone: +1-267-759-9000 ext. 64588
Fax: +1-267-759-8989
E-mail: investor_relations@epam.com

You may obtain a copy of the preliminary prospectus by contacting

Citigroup at Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, tel: (800) 831-9146, email: batprospectusdept@citi.com;
UBS Investment Bank at UBS Investment Bank, Attn: Prospectus Department, 299 Park Avenue, New York, NY 10171, tel: (888) 827-727;
Barclays Capital at Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, tel: (888) 603-5847; email: Barclaysprospectus@broadridge.com;
RenCap at RenCap Securities, Inc, 780 3rd Avenue, 20th Floor, New York, NY 10017, USA.

New Technology Consortium Aims to Accelerate Low-Latency FIX Protocol Messaging Architectures

Thu Dec 22 17:33:00 FET 2011

A new consortium, headed by OnX, hopes to improve FIX Protocol messaging architectures for low-latency trading systems.

Artak Oganesyan: Testing Engineers Should Hear Users Crying

Mon Nov 28 11:35:00 FET 2011

Outsourcing of software development services is small wonder nowadays. This practice is widely employed in organizations of various business dimensions. On the contrary, software testing is a service that companies prefer to leave in-house and often do not trust to third parties the quality assurance of their information systems. What prevents organizations from outsourcing software testing more extensively? How to build effective relationships with a software vendor and assess its quality? Will the new model of long-term outsourcing – establishing of a Dedicated Testing Center – be able to shake traditional patterns? On these and other acute issues dwells Artak Oganesyan, Business Development Director at EPAM Systems, in an interview to CNews.

EPAM leads CEE region on the Software 500 list of the world’s largest software and services companies

Wed Nov 16 14:24:00 FET 2011

With a 47.9% year-to-year growth, EPAM is featured in the prestigious Software Magazine’s annual ranking of the world's largest, best performing software and services suppliers

Newtown, PA — November 16, 2011 — EPAM Systems, Inc., a leading software engineering and IT Outsourcing (ITO) provider with development centers across Central and Eastern Europe (CEE), announced today that it is named to Software Magazine’s Software 500 prestigious list of the world’s largest software and service companies, now in its 29th year.

Ranked 181th with software revenue of $221.8 million, EPAM is featured highest among software providers from Central and Eastern Europe fortifying its sustained advantage as a top nearshore outsourcing vendor. EPAM’s focus on deepening its value proposition, expanding key vertical expertise, development of the finest engineering talent and commitment to customer satisfaction result in its aggressive organic growth and the company’s ongoing inclusion in the list of global industry leaders for the 8th straight year.

The ranking is based on total worldwide software and services revenue for 2010, embracing revenue from software licenses, maintenance and support, training, and software-related services and consulting. Suppliers are not ranked on their total corporate revenue, since many have other lines of business, such as hardware. The financial information was gathered through a survey by King Content Co. and posted at www.softwaremag.com, as well as from public documents.

“The 2011 Software 500 results show that revenue growth in the software and services industry was healthy, with total Software 500 revenue of $541.5 billion worldwide for 2010, representing approximately 10 percent growth from the previous year’s list,” says John P. Desmond, editor of Software Magazine and Softwaremag.com.

“As a continuously evolving and dynamically growing company, we’re glad to see that our clients do recognize our year after year efforts to improve the quality and reliability of our services, as well as sophistication of vertical and horizontal solutions delivered by EPAM to the market. Such recognition is clearly expressed by a constantly increasing amount of business directed to us for over fifteen years. As a result, we are very happy to see that our 47% organic annual growth rate in 2010 allowed us to significantly improve our position within Software500 listing and confirm again our clients’ vote for EPAM,” noted Arkadiy Dobkin, EPAM CEO and President.

About EPAM Systems

EPAM announces global Center of Excellence for Mobile, reinforcing its ongoing commitment to customer demands

Tue Sep 20 14:14:00 FET 2011

Newtown, PA — September 20, 2011 — EPAM Systems, Inc., a leading software engineering and IT Outsourcing (ITO) provider with development centers across Central and Eastern Europe (CEE), has announced the opening of the EPAM Mobile Competency Center (EMCC) offering comprehensive services in every aspect of application development for the mobile community. Backed by broad experience, a strong track record of delivering mobile projects for the customers worldwide, and deep expertise in mobile development and consulting, the EMCC offers a comprehensive portfolio of professional mobile services including application development and enhancements both for ISVs and corporations, IA and UI design, testing and certification, maintenance and support as well as “mobilization” of existing business applications and content.

EPAM’s first mobile project (the development of a complex mobile framework for a leading enterprise solutions vendor) dates back to 2005. Since that time EPAM has successfully delivered a significant number of mobile platforms and business applications for a range of industries – from ISVs and Technology, Finance and Banking, Business Information and Media to Travel and Retail and CPG companies. In 2011 EPAM launched the EMCC to serve as a coordination point for the mobile expertise already residing across domains within EPAM, combining knowledge of specific hardware devices with development and deployment of applications on the full range of mobile platforms – iPhone/iPad, Windows Phone 7, Android, Blackberry, and Symbian. By working in a distributed framework, EPAM is better able to integrate the mobile-specific competencies and best practices with a host of business and technical solutions that leverage them – mobile platforms and frameworks, industry vertical business applications, data driven backend integrations, news and content delivery, social applications, games, and mCommerce applications.

“As a complement to our existing Competency Centers across key verticals and technical domains, our Mobile Competency Center is an important addition to the full range of engineering services and expertise we can provide to our clients,” said Arkadiy Dobkin, EPAM CEO and President. “It will allow us to better leverage our existing knowledge and experience in mobile, while fostering the business-focused innovation needed to be a leader in this fast-developing domain.”

About EPAM Systems

EPAM Systems to focus on Central and Eastern Europe’s ITO advantages at 2011 Gartner Outsourcing & Vendor Management Summit

Wed Sep 07 14:06:00 FET 2011

As a leading provider of software outsourcing services delivered from CEE, EPAM will share insider experience and best practices for crafting successful outsourcing relationships in this region

MICEX releases new low latency Market Data feed service developed by EPAM’s Capital Markets Competency Center

Tue Aug 30 13:23:00 FET 2011

Newtown, PA - August 30, 2011 - B2BITS®, EPAM Systems' Capital Markets Competency Center – a leading provider of high efficiency FIX connectivity solutions, together with the Moscow Interbank Currency Exchange (MICEX) Group, the largest exchange in Russia, the CIS, Central and Eastern Europe, have announced the release of a new low latency market data feed service - MFIX Market Data Multicast.

The new service will enable MICEX clients to obtain real time trading data - including exchange indices, the 10 best bids/offers, as well as market statistics - as a multicast stream of UDP-based FIX/FAST 5.0 SP2 encoded messages. This new implementation replaces the currently employed MFIX Market Data, developed by B2BITS in 2009, which uses separate TCP connections for each client. Though it also provided full market data services, the number of concurrent users streaming data was limited by its older architecture. The new MFIX service is designed to address this limitation, while providing greater overall efficiency.

By eliminating data redundancy through multicasting, a much lower publishing latency has been achieved, while still requiring moderate network throughput. MICEX clients with the appropriate leased line connections will be able to receive market data within single digit milliseconds of a transaction. Market data is published to a client immediately after an order/event with an average delay of less than 1 millisecond.

“The FIX-based trading software developed by EPAM’s B2BITS has proven to be a highly reliable, quality solution. The majority of our clients – large market data providers - have adapted their systems to the FIX protocol format. The brand new MFIX Market Data Multicast service works as a real time trading data publisher. With significantly decreased market data feed delays, it provides the high performance, low latency infrastructure critical to stock exchange participants. I am confident this service will exceed our clients’ expectations in processing the rapidly increasing volume of market data traffic while reducing its publishing time,” noted Alexandre Shlyappo, Vice President, MICEX.

“We are proud to be a vendor and a partner in the development of FIX/FAST based technologies for MICEX. MFIX is designed to address the most demanding requirements of the global electronic trading community. Use of the FIX protocol will ease the integration of MICEX with trading platforms that implement complex arbitrage strategies. We are looking forward to providing onboarding services to MICEX's clients,” said Mark Bisker, SVP and Head of EPAM Capital Market Competency Center.

MFIX is planned to go live in September, 2011. The data will be disseminated over the leased lines. Co-location clients will also be able to receive the data feeds. Three types of service are currently planned:

EPAM reveals best practices in creating strategic outsourcing relationships for digital product development

Wed Aug 03 13:13:00 FET 2011

Newtown, PA — August 3, 2011 — EPAM Systems, Inc., a leading software engineering and IT services provider with development centers across Central and Eastern Europe (CEE), announces the release of “Addressing Digital Product Development Risks: Best Practices for Creating Strategic Outsourcing Relationships”, a white paper sponsored by the company. The paper was issued by Gilbane Services, a part of Outsell, Inc., the only research and advisory firm focused exclusively on the publishing and information industries.

The white paper provides insight into the content strategies, practices, and technologies digital product organizations need to remain nimble and competitive, as well as to maximize the monetization of their digital assets and infrastructure. The paper also gives guidance on how to best identify, engage, and work with experienced outsourced service providers as strategic partners who can “extend the executive vision of creating, managing, and delivering market-leading digital products”.

According to Gilbane Services, “Internal optimization of people, processes, and technology is simply not enough for long-term staying power. For many organizations, the digital product transformation means forming partnerships with highly qualified, outsourced service providers who help address the risk of failure due to poor product development”. When looking to engage with a strategic service provider, digital product organizations are advised to check them against a number of criteria, including if they: can demonstrate a clear understanding of the buyer organization’s environment, executive goals, and culture; are capable of supporting a healthy balance between innovation and pragmatism; approach content management as a business practice; can effectively support migration and integration of existing systems and processes, including methods for organizing the knowledge-transfer process, among others.

The Media and Entertainment industry is one of today’s most prolific digital content creators. This dynamic and competitive sector continues to push the limits of digital workflow and delivery – from intuitive consumer systems and multi-channel enablement, to business analysis and dynamic infrastructure solutions. EPAM’s Business Information and Media specialization draws on years of serving some of the media and entertainment industry’s major corporations such as Viacom, Wolters Kluwer, and Newsweek/Daily Beast, as well as enterprise marketing communications clients such as the world-renowned auction house Sotheby’s, and many more.

EPAM has a well-earned reputation for successfully delivering advanced digital solutions to Publishing, TV and Broadcasting, and Advertising organizations. EPAM’s transparent, well-established communication and project execution processes have won them both customer appreciation and industry recognition. In the most recent ranking organized by the International Association of Outsourcing Professionals - “Global Outsourcing 100” - EPAM was named among the Best 10 Leaders by Industry Focus - Entertainment & Media for the third consecutive year.

“2011 is proving to be a pivotal year for Media and Communications industry,” says Alex Lyashok, Vice President of Media & Entertainment at EPAM Systems. “The continued evolution of information dissemination platforms, combined with the unprecedented need to manage customer experiences, creates both opportunities and challenges for organizations worldwide. EPAM’s re-affirmed position as a leader in this space highlights our unwavering commitment to creating new generations of products that serve our clients and their customers.”

About Gilbane Services

Outsell’s Gilbane Services provides analyst and consulting services dedicated to content strategies, practices, and technologies and their application to high-value business solutions. We have delivered quality market education and insight to global enterprises, governments, non-profits, publishers, and information providers since 1987. Outsell’s Gilbane Services is part of Outsell, Inc., the only research and advisory firm focused on the publishing and information industries. Our international team provides independent, fact-based analysis and actionable advice about competitors, markets, operational benchmarks, and best practices, so our clients thrive and grow in today’s fast-changing digital and global environment.

www.gilbane.com

About EPAM Systems

Established in 1993, EPAM Systems, Inc. is a leading global software engineering and IT consulting provider with delivery centers throughout Central and Eastern Europe. Headquartered in the United States, EPAM employs over 6,000 professionals and provides services to clients worldwide using a global delivery model through its client facing and delivery operations in North America, UK, Germany, Switzerland, Sweden, Russia, Belarus, Hungary, Ukraine, and Kazakhstan.

EPAM's core competencies include complex software product engineering for leading global software and technology vendors, as well as development, testing, maintenance, and support of mission critical business applications and vertically oriented IT consulting services for global Fortune 2000 corporations.

EPAM is recognized among the top companies in IAOP's "The 2011 Global Outsourcing 100", featuring EPAM in a variety of sub-lists, including “Leaders – Technology (Hardware & Software)” and “Leaders – Entertainment & Media”. The company is also ranked among the best global service providers on "The 2011 Global Services 100" by Global Services Magazine and NeoAdvisory, which includes EPAM in the list of the world's "Top Outsourced Product Engineering Vendors" for the 3rd year running.

www.epam.com

EPAM recurrently recognized Eastern Europe’s IT Services Leader and global Top Product Engineering Vendor on 2011 Global Services 100 List

Tue Jul 26 13:05:00 FET 2011

Newtown, PA — July 26, 2011 — EPAM Systems, Inc., a leading software engineering and IT services provider with development centers across Central and Eastern Europe (CEE), announced today that it has been named an IT Services Leader in the “IT Services Leaders - Eastern Europe” category recognizing only two vendors, as well as among ten world’s “Top Product Engineering Vendors” in the 2011 Global Services 100 rating, reaffirming EPAM’s CEE leadership status in the software engineering services space. Marking their sixth consecutive appearance on the GS100 list, EPAM has also been named to the “Top Global Mid-Tier ITO Vendors” list.

The 2011 Global Services 100 is an annual global outsourcing industry ranking produced by Global Services, the outsourcing media house, in association with NeoGroup (formerly neoIT). Companies who participated in this survey were required to share detailed business information through an online survey for judging. The top 100 list and names in the categories were derived using a research methodology based on over 200 data points and several qualitative parameters, including clear Management Excellence, proven Customer Maturity, demonstrated advanced Global Delivery Maturity, and the ability to execute on a Broad Portfolio of Services.

“The global services industry has gone clearly beyond the paradigm of ‘more work at lesser cost’. Companies are routinely seeking business outcomes, and in some cases, new forms of business value. Service providers who can deliver on these fronts make it to the GS100 and its categories,” said Ed Nair, Editor, Global Services.

“The firms that are recognized in the GS100 list show a higher level of focus on client needs, employee development and process improvement. They continue to be providers of choice in the market,” said Atul Vashistha, Founder and Chairman, NeoGroup.

“We thank Global Services and NeoGroup for recognizing EPAM among the top IT companies worldwide for six years in a row”, said Arkadiy Dobkin, EPAM CEO and President. “We believe that the breadth and quality of our software engineering skills and IT services offerings, combined with our domain expertise across multiple industries, differentiates EPAM as a leader – not just amongst Eastern Europe’s services providers – but also on a global level - and it is great to see that being reconfirmed again by the Global Services 100 study.”

About Global Services

Global Services, a media platform by CyberMedia, covers strategies, best practices, and opportunities in global sourcing of ITO and BPO services. The publication reaches senior sourcing professionals in leading organizations across North America, Europe, and Asia. The Global Services brand is an integrated media platform that includes the website globalservicesmedia.com conferences, research, webinars, e-magazines, custom publishing, and various other content delivery formats.

About Global Services 100

GS100 is the annual survey and analysis of the global ITO-BPO industry done by Global Services in association with NeoGroup. The survey recognizes service provider excellence and maturity to serve the global market. The GS100 is a benchmark in the global ITO and BPO industry because of its rigorous methodology, exhaustive coverage, and value to the services buyer community.

For the complete research study visit: http://microsites.globalservicesmedia.com/gs100

About NeoGroup

NeoGroup was founded in 1999 (Formerly neoIT) with the principle that talent in low cost locations and outsourcing firms, leveraged appropriately could create sustainable competitive advantage. NeoGroup helps organizations benefit from the rise of services globalization and outsourcing around the world. NeoGroup’s services help create competitive advantage through advisory, risk monitoring, and program management.

www.neogroup.com

About EPAM Systems

Established in 1993, EPAM Systems, Inc. is a leading global software engineering and IT consulting provider with delivery centers throughout Central and Eastern Europe. Headquartered in the United States, EPAM employs over 6,000 professionals and provides services to clients worldwide using a global delivery model through its client facing and delivery operations in North America, UK, Germany, Switzerland, Sweden, Russia, Belarus, Hungary, Ukraine, and Kazakhstan.

EPAM's core competencies include complex software product engineering for leading global software and technology vendors, as well as development, testing, maintenance, and support of mission critical business applications and vertically oriented IT consulting services for global Fortune 2000 corporations.

EPAM is recognized among the top companies in IAOP's "The 2011 Global Outsourcing 100", featuring EPAM in a variety of sub-lists, including “Leaders – Technology (Hardware & Software)” and “Leaders – Entertainment & Media”. The company is also ranked among the best global service providers on "The 2011 Global Services 100" by Global Services Magazine and NeoAdvisory, which includes EPAM in the list of the world's "Top Outsourced Product Engineering Vendors" for the 3rd year running.

www.epam.com

EPAM named a salesforce.com premier partner

Mon Jul 18 12:52:00 FET 2011

Providing expanded foundation for delivery of cloud-based solutions

EPAM Systems makes to Top 100 on VAR500 list of North America's Technology Integrators

Thu Jul 07 12:34:00 FET 2011

Newtown, PA — July 7, 2011 — EPAM Systems, Inc., a leading software engineering and IT services provider with development centers across Central and Eastern Europe (CEE), today announced it has been recognized by Everything Channel as a part of CRN’s 2011 VAR500 list, which ranks the top technology integrators in North America. Featuring the highest producing technology integrators and solution provider organizations in the IT channel, the VAR500 rankings consider earnings from hardware sales, software sales and managed IT services. EPAM placed #92 in the 17th annual ranking significantly advancing on the list from #213 in 2010.

The VAR500 is a list of the largest value-added resellers, solution providers and integrators in North America by revenue size. Revenue size is determined by the amount of annual products and services sold over the course of 2010.

“The VAR500 represents the top performing solution providers in the IT community,” said Kelley Damore, VP, Editorial Director, Everything Channel. “Vendors of all sizes rely heavily on the VAR500 list to find those solution providers best suited to sell their products. VAR500 honorees are considered trusted business advisors, integration experts, and invaluable partners. Even more importantly, they solve customers’ biggest IT business problems through product integration, training, consulting and services.”

“Through partnering with major vendors like SAP, Oracle, Microsoft, EMC, salesforce.com and others, we have been able to integrate their best in class capabilities within many of the industry-specific, customized solutions we develop and support, offering them an efficient way to expand their reach in the markets and industries that we serve”, said Arkadiy Dobkin, EPAM CEO and President. “This recognition from Everything Channel is a welcome validation of our efforts over this past year to continue extending and optimizing the value we bring to both our partners and our clients”

VAR500 Executive Conference and Awards

The 2011 VAR500 list was announced at the VAR500 Executive Conference and Awards, an elite two-day conference designed for high level executives to meet with VAR500 companies to discuss business models, technology offerings, and partnerships. Held June 13-14 at the Sawgrass Marriot in Jacksonville, Florida, the conference focused on channel marketing strategies and direction, offering actionable content to the top Solution Provider organizations in North America. Attendees learned the secrets for uncovering new market opportunities from industry experts, peers and fellow VAR500 companies.

Everything Channel
Everything Channel is the premier provider of IT channel-focused events, media, research, consulting, and sales and marketing services. With over 30 years of experience and engagement, Everything Channel has the unmatched channel expertise to execute integrated solutions for technology executives managing partner recruitment, enablement and go-to-market strategy in order to accelerate technology sales. Everything Channel is a UBM company. To learn more about Everything Channel, visit us at http://www.everythingchannel.com.

About United Business Media Limited (www.unitedbusinessmedia.com)
UBM (UBM.L) focuses on two principal activities: worldwide information distribution, targeting and monitoring; and, the development and monetization of B2B communities and markets. UBM’s businesses inform markets and serve professional commercial communities - from doctors to game developers, from journalists to jewelry traders, from farmers to pharmacists – with integrated events, online, print and business information products. Our 6,500 staff in more than 30 countries are organized into specialist teams that serve these communities, bringing buyers and sellers together, helping them to do business and their markets to work effectively and efficiently.

About EPAM Systems

Established in 1993, EPAM Systems, Inc. is a leading global software engineering and IT consulting provider with delivery centers throughout Central and Eastern Europe. Headquartered in the United States, EPAM employs over 6,500 professionals and provides services to clients worldwide using a global delivery model through its client facing and delivery operations in North America, UK, Germany, Switzerland, Sweden, Russia, Belarus, Hungary, Ukraine, Poland, and Kazakhstan.

EPAM's core competencies include complex software product engineering for leading global software and technology vendors as well as development, testing, maintenance, and support of mission critical business applications and vertically oriented IT consulting services for global Fortune 2000 corporations.

EPAM is recognized among the top companies in IAOP's "The 2011 Global Outsourcing 100", featuring EPAM in a variety of sub-lists, including “Leaders – Technology” and “Leaders – Entertainment & Media”. The company is also ranked among the best global service providers on "The 2011 Global Services 100" by Global Services Magazine and NeoAdvisory, which includes EPAM in the list of the world's "Top Outsourced Product Engineering Vendors" for the 3rd year running.

www.epam.com

EPAM Systems reasserts its leadership status in Central and Eastern Europe on IAOP’s 2011 Global Outsourcing 100 List

Fri Jun 10 12:23:00 FET 2011

Newtown, PA — June 10, 2011 — EPAM Systems, Inc., a leading software engineering and IT services provider with development centers across Central and Eastern Europe (CEE), announced today that it has been named to the ‘Leaders’ category in the 2011 Global Outsourcing 100®, the International Association of Outsourcing Professionals® (IAOP®) annual ranking of the world’s best outsourcing service providers and advisors.

The Global Outsourcing 100®, a rigorously judged, independent ranking based both on a set of measurable standards as well as evaluation by a panel of industry-recognized outsourcing leaders, provides a benchmark for identifying the best outsourcing service providers across the globe. Selection to this list requires outsourcing companies to demonstrate sustained excellence in such critical categories as size and growth, global presence, customer references, company recognitions, company certifications, employee management, and executive leadership.

EPAM has also been honored in a variety of sub-lists featuring leaders in specific vertical and geographical categories. Through its inclusion in these rankings, EPAM reasserts its technology and regional leadership, as well as its expanding global reach and competitiveness.

“To be referenced as a CEE leader in the outsourcing industry is a great honor for us, and a welcomed recognition of our company as a trusted outsourcing provider”, said Arkadiy Dobkin, EPAM CEO and President. “This achievement is a reflection of the unrivaled industry knowledge and technical expertise of EPAM’s 6,000+ employees worldwide, and of their commitment to delivering best-in-class IT outsourcing services to each of our clients.”

About IAOP

The International Association of Outsourcing Professionals® (IAOP®) is the global, standard-setting organization and advocate for the outsourcing profession. With more than 110,000 members and affiliates worldwide, IAOP helps companies increase their outsourcing success rate, improve their outsourcing ROI, and expand the opportunities for outsourcing across their businesses. To learn more, visit: www.iaop.org.

The media contact for IAOP is:
Kimberly Maneeley
IAOP Director, Marketing & Communications
+1.845.452.0600, ext. 104
kim.maneeley@iaop.org

About The Global Outsourcing 100

The International Association of Outsourcing Professionals® (IAOP®) is in its sixth year of compiling its annual ranking of the world’s best outsourcing service providers and advisors – The Global Outsourcing 100. As part of The Global Outsourcing 100, IAOP also introduced a new list in 2009, The World's Best Outsourcing Advisors.

The Global Outsourcing 100 and its sub-lists are essential references for companies seeking new and expanded relationships with the best companies in the industry. The lists include companies from around the world that provide the full spectrum of outsourcing services — not just information technology and business process outsourcing, but also facility services, real estate and capital asset management, manufacturing and logistics. They include not only today’s leaders, but tomorrow’s rising stars.

The World's Best Outsourcing Advisors is geared specifically to companies that are outstanding global outsourcing advisors and consultants. In addition to being part of The Global Outsourcing 100, the new list of advisors ranks the top consultant, legal and related advisory firms globally, and is a valuable reference tool for companies needing expert advice and guidance with their outsourcing projects.

About EPAM Systems

Established in 1993, EPAM Systems, Inc. is a leading global software engineering and IT consulting provider with delivery centers throughout Central and Eastern Europe. Headquartered in the United States, EPAM employs over 6,000 professionals and provides services to clients worldwide using a global delivery model through its client facing and delivery operations in North America, UK, Germany, Switzerland, Sweden, Russia, Belarus, Hungary, Ukraine, and Kazakhstan.

EPAM's core competencies include complex software product engineering for leading global software and technology vendors, as well as development, testing, maintenance, and support of mission critical business applications and vertically oriented IT consulting services for global Fortune 2000 corporations.

EPAM is recognized among the top companies in IAOP's "The 2011 Global Outsourcing 100" and in "The 2010 Global Services 100" by Global Services Magazine and NeoAdvisory. The company is the only CEE's IT services vendor included in the global "Top 10 Best Performers: IT Services" in the magazine's 2009 rating. For the 2nd year running, EPAM was also listed among the world's "Top Outsourced Product Development" vendors in "The 2010 Global Services 100".

www.epam.com

EPAM shares its cloud experience at EMC World 2011 in Las Vegas

Mon May 09 12:04:00 FET 2011

Newtown, PA — May 9, 2011 — EPAM Systems, Inc., a leading software engineering and IT services provider with development centers across Central and Eastern Europe (CEE), will be presenting at “Cloud Meets Big Data” – The EMC World 2011 conference, being held May 9th–13th at the Venetian in Las Vegas, NV.

EPAM will be speaking on the opportunities that EMC Atmos can offer firms looking to implement solutions for Enterprise Mobility Application Data Storage and Ultra-high-volume data collection and archiving utilizing EMC’s Documentum xDB XML database.

EPAM Systems is an EMC Partner since 2009. The company utilizes EMC’s Cloud storage platform Atmos as the underlying infrastructure for specific client’s deployments as well as for EPAM internal needs. In addition, EPAM offers multiple solutions around EMC Documentum Content Management platform, including:

EPAM Systems expands European presence with new development facility in Poland

Thu May 05 11:59:00 FET 2011

Newtown, PA — May 5, 2011 — EPAM Systems, Inc., the leading software engineering and IT Outsourcing (ITO) provider in Central and Eastern Europe (CEE), today announced the expansion of its European Union delivery centers with the launch of its first Polish development facility in Krakow. The addition of the Krakow office reinforces EPAM’s strategic commitment to the NearShore value proposition for ITO services delivered to European clients and multinationals operating within the EU, and complements EPAM’s existing European locations in Hungary, Ukraine, Belarus, and Russia, as well as European engagement management centers in the UK, Germany, Sweden, and Switzerland.

The selection of Krakow was made based on the depth of its experienced IT talent, a favorable geopolitical environment for global clients, its excellent university system, advanced infrastructure, and appealing living conditions necessary for staff retention. The Krakow facility will serve new clients, and help fortify EPAM’s strategic relationship with existing clients. Each year Krakow educates over 180,000 students within its numerous reputable universities, guaranteeing a supply of qualified multi-lingual IT employees. Skilled engineering pool is one of the region’s biggest advantages in software outsourcing; Poland graduates talented students who often earn top positions in many international contests, such as TopCoders, International Olympics in Computer Science, Google Code Jam Europe, and ACM.

EPAM’s CTO, Balazs Fejes, stated “We plan to expand to 150 people during our stabilization and leadership building phase in 2011, with more significant growth targeted for 2012 and 2013.” Fejes added, “Our move into Poland offers us an excellent way to combine scalability with quality, making it a key element in EPAM’s global expansion strategy. Utilizing our experience from EU based NearShore delivery capability such as our 600 member Hungarian operation, and leveraging the long-standing Hungarian-Polish friendship, we expect to jump-start the Krakow team so that it very quickly becomes a major contributor to EPAM’s and our clients’ delivery success.”

“As both the largest and most geo-diverse Central and Eastern European IT player, EPAM continues to enhance its delivery infrastructure and expand its presence into additional high value, scalable talent pools within the region,” said Arkadiy Dobkin, EPAM CEO and President. “This move strengthens our European NearShore market position at a time when demand from the European marketplace for high quality software services and solutions delivered quickly and on time, is significant and growing rapidly."

About EPAM Systems

Established in 1993, EPAM Systems, Inc. is the leading global software engineering and IT consulting provider with delivery centers throughout Central and Eastern Europe. Headquartered in the United States, EPAM employs over 6,000 professionals and provides services to clients worldwide utilizing a global delivery model through its client facing and delivery operations in North America, UK, Germany, Switzerland, Sweden, Russia, Belarus, Hungary, Ukraine, and Kazakhstan.

EPAM's core competencies include complex software product engineering for leading global software and technology vendors, as well as development, testing, maintenance, and support of mission critical business applications and vertically oriented IT consulting services for global Fortune 2000 corporations.

EPAM is recognized among the top companies in IAOP's "The 2010 Global Outsourcing 100" and in "The 2010 Global Services 100" by Global Services Magazine and NeoAdvisory. The company is the only CEE's IT services vendor included in the global "Top 10 Best Performers: IT Services" in the magazine's 2009 rating. For the 2nd year running, EPAM was also listed among the world's "Top Outsourced Product Development" vendors in "The 2010 Global Services 100".

The Win-Win Strategy: Finding Common Ground with an IT Provider

Tue Apr 12 11:27:00 FET 2011

What is the most effective strategy for a company looking to outsource software development? Some believe that the path to success lies in outsourcing certain short term projects across multiple service providers on a fixed cost basis, and burdening them with all of the structural and technical risks. By contrast, Vladimir Stasevich, Head of Vendor Projects at Citi, thinks the focus should be put on developing long term outsourcing partnerships with shared risk management. This more strategic approach can empower a constructive dialog between customer and provider and create a win-win situation that delivers measurably better results.

EPAM's multiple development locations are successfully reassessed for compliance with the world's leading auditing standard SAS 70 Type II

Thu Mar 24 10:50:00 FET 2011

Newtown, PA — March 24, 2011 — EPAM Systems, Inc., the leading software engineering and IT Outsourcing (ITO) provider in Central and Eastern Europe (CEE), announces its 3 development centers in Hungary, Belarus, and Ukraine, together with the Global IT Service Center in Belarus, have been successfully reassessed for the SAS 70 Type II requirements. Deloitte Auditing and Consulting Ltd. has performed an in-depth audit of EPAM’s control objectives and control activities, including controls over information technology and related processes, and certified that they were operating 100% effectively. This has been the 4th certification successfully completed by EPAM across multiple centers reconfirming their operational efficiency.

SAS 70 audit reports are a widely recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA) to serve as the authoritative guidance for the customer organizations and their auditors to gain visibility into the control activities and processes of a service organization. The scope of controls examined by the Deloitte Auditing and Consulting Ltd. experts included such areas: Security Policies, Organization Security, Asset Classification and Control, Personnel Security, Physical and Environmental Security, Communication and Operations Management, Access Control, System Development and Maintenance, as well as Regulation. The test period spanned May 1, 2010 to October 31, 2010.

As a more thorough report compared to Type I, SAS 70 Type II works as an additional guarantee to those organizations that have to validate the controls that are in place to protect the security of their sensitive data. This is a particularly important consideration for firms in data and information intensive industries like financial services and healthcare who are looking to engage an external services organization. Having the accuracy and integrity of a services provider’s operations certified by a SAS 70 review allows corporations to meet their own security and compliance obligations without assuming the costs and risks of conducting their own separate reviews.

"The SAS 70 Type II certification underscores the company’s focus on delivering outsourced software development with the most appropriate security controls in place, as also confirmed by the ISO/IEC 27001:2005 attestation we have received. Both demonstrate to our clients the strong sense of responsibility we take in securing and protecting the sensitive information and corporate assets used for project implementations. To ensure operational reliability and consistency, EPAM has invested heavily in establishing rigorous processes, a reliable and secure infrastructure, and the employee training necessary to effectively protect the interests and assets of our clients. EPAM will sustain its commitment to provide high system and process dependability through the controls and safeguards we have put in place across our global development and services centers,” commented Balazs Fejes, EPAM CTO."

About the AICPA and SAS No. 70, Service Organizations

The American Institute of Certified Public Accountants and its predecessors have been the voice of the accounting profession since 1887. The AICPA prides itself on its serving the CPA profession and the public interest to which it is profoundly committed. AICPA members work in all sectors of the business and financial services profession, including Public Accounting, Financial Planning, Tax, Business & Industry, Law, Consulting, Education and Government.

SAS No. 70, developed by AICPA, provides guidance on the factors an independent auditor should consider when auditing the financial statements of an entity that uses a service organization to process certain transactions. It also provides guidance for independent auditors who issue reports on the processing of transactions by a service organization for use by other auditors.
www.aicpa.org

About EPAM Systems

Established in 1993, EPAM Systems, Inc. is the leading global software engineering and IT consulting provider with delivery centers throughout Central and Eastern Europe. Headquartered in the United States, EPAM employs over 5,500 professionals and provides services to clients worldwide utilizing a global delivery model through its client facing and delivery operations in North America, UK, Germany, Switzerland, Sweden, Russia, Belarus, Hungary, Ukraine, and Kazakhstan.

EPAM's core competencies include complex software product engineering for leading global software and technology vendors, as well as development, testing, maintenance, and support of mission critical business applications and vertically oriented IT consulting services for global Fortune 2000 corporations.

EPAM is recognized among the top companies in IAOP's "The 2010 Global Outsourcing 100" and in "The 2010 Global Services 100" by Global Services Magazine and NeoAdvisory. The company is the only CEE's IT services vendor included in the global "Top 10 Best Performers: IT Services" in the magazine's 2009 rating. For the 2nd year running, EPAM was also listed among the world's "Top Outsourced Product Development" vendors in "The 2010 Global Services 100".

EPAM's Isaak Karaev and John Mahoney inducted into Hall of Fame by Inside Market Data, independent expert journal

Thu Dec 16 15:33:00 FET 2010

PM Network: A financial software company discovers a newfound faith in outsourcing

Wed Dec 01 11:29:00 FET 2010

Ready to give up on outsourcing after disappointing experience of offshoring a few projects to India, Jonathan Meyer, CTO of global financial software provider Ipreo, was advised to turn to EPAM. Not only has the collaboration proved viable for Ipreo, it has also transformed into a long-term partnership that fits extremely well with Ipreo’s current IT strategy: “…all of Ipreo’s major engineering projects that can’t be handled in-house go to EPAM, and Mr. Meyer has come to rely heavily on the company”.

EPAM's expertise in Scrum recognized by Software Magazine by including its proprietary SDLC platform into the list of best Scrum tools in its "Taking a Scrum Approach to Product Development" recent article

Mon Oct 11 16:33:00 FEST 2010

EPAM Testing and QA Center of Excellence honored in the 2010 International Business Awards

Mon Oct 04 16:33:00 FEST 2010

Newtown, PA — October 4, 2010 — EPAM Systems, Inc., the leading software engineering and IT Outsourcing (ITO) provider in Central and Eastern Europe (CEE), announced today that its Testing and QA Center of Excellence has earned a Distinguished Honoree medal in the category "IT Department of the Year" in The 2010 International Business Awards, a global business awards program honoring great performances in business.

EPAM's Testing and QA Center of Excellence (CoE) is the largest stand-alone testing organization in Central and Eastern Europe. Established in 1999, the software testing CoE has grown to over 1,000 seasoned test professionals offering a comprehensive set of services covering functional and performance testing, automated testing, localization testing, mobile and security testing, and cloud/SOA testing. Software Russia and Eastern Europe also offer best-in-class engineering staff with the deep understanding of specific business domains needed to provide quality services in such complex vertical segments as Investment and Retail Banking, Business Information Services and Media, and Travel and Hospitality among others.

Today there are dozens of leading software product companies as well as Fortune 1000 corporations that utilize various testing services provided by EPAM independently or in combination with other EPAM software engineering offerings.

"This award validates EPAM's leading position as a provider of independent testing services among global ITO vendors. It recognizes not just over ten years of EPAM's experience in this field, but also our top level expertise with market leading advanced testing tools and multiple technology platforms, EPAM's rich set of proprietary testing frameworks and methodologies developed internally to address many complex and unique client requirements, and also the availability of EPAM's SDLC management platform used in most of our engagements to bring complete transparency and traceability to the testing process," noted Andrei Savastsiuk, Director, Testing and QA at EPAM.

About The Stevie Awards

The Stevie Awards are conferred in four programs: The American Business Awards, The International Business Awards, the Stevie Awards for Women in Business, and the Stevie Awards for Sales & Customer Service. Honoring companies of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about The Stevie Awards at www.stevieawards.com.

EPAM strengthens its business information services offerings by acquiring Instant Information, a leading provider of cloud based information management and discovery services

Tue Sep 21 16:33:00 FEST 2010

Newtown, PA — September 21, 2010 — Over the last several years EPAM Systems has seen multifold growth in its software engineering services provided to the business information and media industries. To further strengthen their core capabilities in this area, EPAM announces the acquisition of assets of Instant Information, Inc., a leading provider of cloud based information management and discovery services.

Servicing clients in the financial, pharmaceutical, legal, and technology verticals, Instant Information has deep expertise in helping enterprises to manage the exponential growth in the data and content assets they must support, and providing them with the expert level services needed to envision, develop, and operate applications and frameworks that effectively leverage that information.

The company was founded in 2004 and led since by industry veterans Isaak Karaev and John Mahoney. Previously, Mr. Karaev and Mr. Mahoney co-founded Multex, Inc. (NASD: MLTX), which helped to redefine the financial information and research marketplace and was acquired by Reuters in 2003.

"EPAM today serves a number of top global players in the information and media space and also helps to develop cutting edge software technologies and products for leading ISVs serving those industries. The management experience and industry expertise of the Instant Information team should add significant value to EPAM's growing business in this field by extending our capabilities into new areas we have not actively pursued in the past, as well as allowing us to offer the right mix of services, domain knowledge, and technology know-how to effectively address the full range of our clients' rising demands in this space," noted Arkadiy Dobkin, CEO and President of EPAM Systems.

"EPAM is an ideal fit for the work we have done in this space," said Isaak Karaev, CEO of Instant Information, Inc. "It gives us the opportunity to combine the deep knowledge and extensive capabilities we have across the entire value chain with one of the fastest growing and technically astute global service providers in the market today. It's a powerful combination that opens up new and exciting opportunities going forward."

About Instant Information, Inc.

New York based Instant Information, Inc. was founded in 2004 to provide knowledge management and collaboration solutions to corporate intelligence and financial professionals. It was launched with start-up capital provided by Standard & Poor's, Reuters and several private equity firms including Union Square Ventures.
www.instantinformation.com

EPAM is named an ATG Solution Provider in EMEA

Fri Aug 20 16:33:00 FEST 2010

Newtown, PA — August 20, 2010 — EPAM Systems, Inc., a leading software engineering and IT Outsourcing provider in Central and Eastern Europe (CEE), has joined the ATG Global Alliance Network as an ATG Solutions Provider in EMEA.

ATG established the Alliance Network to showcase “talented and highly regarded organizations that offer a range of services supporting ATG solutions (e-Commerce and customer-care consulting, development, integration, deployment)”.

EPAM has been a trusted partner and vendor to ATG since 2004 when EPAM first established a dedicated ATG Center of Excellence (CoE) to support integration and customization projects built around ATG technologies and solutions for ATG’s customers. During those years, the EPAM ATG CoE has successfully adapted ATG’s e-Commerce solutions for many specific client requirements including deployments on iOS and Android mobile devices and integration with many popular social networks, including Twitter and Facebook. The CoE is currently staffed with over 200 professionals delivering a full range of development, testing, and maintenance services for all supported ATG products via a NearShore delivery model which allows the company to be close to their end customers, while still offering significant cost benefits.

“ATG’s high-end e-Commerce platform is a perfect fit for the innovative and technically superior solutions we look to build for our clients,” said Valeri Makovik, the head of EPAM’s ATG CoE. “We are proud that ATG has chosen us as a partner to continue working closely with them implementing the next generation of highly interactive, highly personalized end user e-Commerce experiences.”

EPAM Systems improves position on VAR500 list of North America's Top 500 Technology Integrators

Tue Jul 06 16:33:00 FEST 2010

Newtown, PA — July 6, 2010 — EPAM Systems, Inc., the leading software engineering and IT Outsourcing (ITO) provider in Central and Eastern Europe (CEE), has been recognized as one of North America's top technology integrators by Everything Channel. Named to the prestigious annual VAR500 list, that includes IT consultants, solution providers, traditional resellers, and vendor services arms, EPAM placed #213 climbing from the 235th spot earned in 2009.

EPAM challenged the rough economy of the past year by heightening control over the established process security, product and application QA along with the implementation of proven methodologies to provide added value to respond to stricter demand for service delivery. Thus the company managed not only to retain the key product and service accounts, including five of the top 10 largest global software product companies like SAP, Microsoft, and Oracle, but also saw a positive growth of its worldwide customer base. EPAM's optimized strategy proved its efficiency and allowed the company to obtain the ISO/IEC 27001:2005 standard certification early in 2010 in addition to SAS 70 Type II certification, as well as earn recognitions from a number of industry associations and media being named one of the world's top 10 Best Performers in IT Services and OPD.

The 16th annual ranking VAR500 list details the leading producers among technology integrators and technology solution provider organizations in North America based on gross worldwide revenue of hardware and software sales, as well as earnings from professional and managed IT services. This year's list reflects the strength of the technology reseller channel as the ranking includes 182 new companies with four percent of the new entrants landing in the Top 100.

"It is an honor to be included in the VAR500 list for the fourth consecutive year. We are confident our growth also underscores the value we bring to our customers and partners supporting their business with smarter IT solutions driven by highly professional software application and product engineering that is coupled with outside-the-box thinking inherent to CEE's IT workforce," stated Arkadiy Dobkin, EPAM President and CEO.

"The VAR 500 is the who's who of the solution provider community. Microsoft, HP, Cisco, Symantec among others are highly reliant on the VAR500 to sell their products to businesses and collectively this audience generated more than $500B in sales in 2009. Even more importantly they solve customers' biggest IT business problems through product integration, training, consulting and services. In companies large and small, the VAR500 are considered integration experts, trusted business advisors and invaluable partners. We are honored to compile this list and represent this audience," said Kelley Damore, VP, Editorial Director, Everything Channel.

Should UK techies be worried by all the skilled workers in Eastern Europe?

Wed Jun 23 12:44:00 FEST 2010

Barclays Capital has unveiled plans to recruit 500 IT professionals for a new tech centre in the Ukraine. While it would be easy to pass this off as an attempt to tap into cheaper labour sources, there are other incentives for banks to look to Eastern Europe for tech talent.

Barclays Capital to build global technology facility in Kyiv to create Ukraine's largest and most secure technology centre

Fri Jun 11 16:33:00 FEST 2010

June 11, 2010 — Barclays Capital, the investment banking division of Barclays Bank PLC, announced today it has chosen Kyiv as the location for its third global technology centre, adding to those already established in Singapore and Prague. EPAM Systems, the largest and most experience software engineering services provider in Eastern Europe, has been selected as the partner to build and operate Ukraine's most advanced and secure IT facility, with a team of up to 500 IT professionals in Kyiv by the end of 2012.

With deep roots in profound education base in software engineering, Ukraine was chosen because of the exceptional local technical talent and strong analytical skills available. This investment in Kyiv allows Barclays Capital to further diversify its workforce locations and the firm will grow globally by 800 IT professionals in 2010 with continued growth anticipated over the coming years.

"Kyiv is a key strategic centre within our technology growth plans going forward. Utilising the most advanced hardware, software tools and security infrastructure available, the Kyiv centre will be at the leading edge of global competitiveness for quality and for innovation. We are exceedingly impressed with the 50 plus engineers that have already started," said Sarah Grave, Head of IT EMEA, Prague and Kyiv at Barclays Capital.

The teams will focus on Application Development for in-house projects in C++, Java or C# for a wide range of business applications across the bank, ranging from electronic trading applications to risk management systems. The Kyiv facility has been built by EPAM to operate within the bank's highly secure continuous service environment, providing 24/7 services to maintain business applications and provide support to the firm's business users for many mission critical applications.

Barclays Capital and EPAM are investing in Kyiv for the long term, with the technology centre not only providing excellent working conditions, but very clear long-term career paths for the team members in development, management, operation and support of the software developed. Team members will be supported in their professional growth through high quality financial services training in London, Singapore and Johannesburg.

"The Kyiv centre will provide the essential front-line services necessary for the operation of Barclays Capital's global banking business," said Karl Robb, President EPAM Europe. "This reflects our client's strong faith in Ukrainian IT talent and in EPAM Systems proven track record of establishing large software engineering teams operating in highly secure environments to the world's top technology firms and financial institutions."

Through EPAM, Barclays Capital will make an initial capital investment of more than US$2 million in the highest standard of technology infrastructure from Hewlett Packard, Cisco and Microsoft among others, creating the most secure and state-of-the-art facility in the Ukraine, within EPAM's premises. The very latest workstation and network equipment will be deployed along with power equipment providing business continuity to operate 24/7.

Notes for Editors

For further information, please contact:
Jon Laycock, Barclays Capital Communications +44 207 773 4324 jon.laycock@barcap.com

About Barclays Capital

Barclays Capital is the investment banking division of Barclays Bank PLC. With a distinctive business model, Barclays Capital provides large corporate, government and institutional clients with a full spectrum of solutions to their strategic advisory, financing and risk management needs. Barclays Capital has offices around the world, employs over 23,000 people and has the global reach, advisory services and distribution power to meet the needs of issuers and investors worldwide.

For further information about Barclays Capital, please visit the website www.barclayscapital.com.

About Barclays

Barclays is a major global financial services provider engaged in retail banking, credit cards, corporate and investment banking and wealth management with an extensive international presence in Europe, the Americas, Africa and Asia. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs over 144,000 people. Barclays moves, lends, invests and protects money for 48 million customers and clients worldwide.

For further information about Barclays, please visit the website www.barclays.com.

EPAM Receives Preferred Supplier Status from Bosch Group

Thu Jun 10 16:33:00 FEST 2010

Newtown, PA — June 10, 2010 — EPAM Systems, Inc., the leading software engineering and IT Outsourcing (ITO) provider in Central and Eastern Europe (CEE), announced today that it has been selected as a Preferred Supplier of the Bosch Group, an award in recognition and appreciation of EPAM's outstanding performance in custom software development and application support during the last 3 years.

EPAM has been a development partner to the Bosch Group since 2007, successfully delivering several critical software development projects, the latest achievement being a custom Supplier Relationship Management (SRM) system that replaced multiple legacy applications underpinning the business dealings with tens of thousands of global suppliers and also provides sophisticated SRM specific BI features to Bosch's executive leadership. The solution was developed and is continually enhanced and supported by EPAM's engineering teams led by business analysts and engagement management from EPAM Germany, together with engineering teams in Belarus and Russia that provide a balance of domain and process knowledge with technology and quality management skills.

"Any client award or recognition is an honor for the whole staff of EPAM. In this case, given the well-known, stringent levels of excellence and quality that the Bosch Group demands globally in all forms of engineering including software, our teams should be exceedingly proud to be recognized in the upper echelons of Bosch's supplier eco-system with this Preferred Supplier status," commented Karl Robb, President EU Operations, EVP EPAM Group. "EPAM's unmatched technology skills, extensive domain knowledge and excellence in distributed delivery of complex software solutions has resulted in a robust, flexible, high throughout, high-availability application that provides our client with significant process optimization and a competitive business edge."

About the Bosch Group

The Bosch Group is a leading global supplier of technology and services. In the areas of automotive and industrial technology, consumer goods, and building technology, some 275,000 associates generated sales of 38.2 billion euros in the areas of automotive and industrial technology, consumer goods, and building technology in fiscal 2009. The Bosch Group comprises Robert Bosch GmbH and its more than 300 subsidiaries and regional companies in over 60 countries. If its sales and service partners are included, then Bosch is represented in roughly 150 countries. This worldwide development, manufacturing, and sales network is the foundation for growth. Each year, Bosch spends more than 3.5 billion euros for research and development, and applies for some 3,800 patents worldwide. With all its products and services, Bosch enhances the quality of life by providing solutions which are both innovative and beneficial.

For more information, visit www.bosch.com.

EPAM's leadership of Central & Eastern European software services sector reconfirmed by IAOP's 2010 Global Outsourcing 100 ranking

Tue May 04 16:33:00 FEST 2010

Newtown, PA — May 4, 2010 — EPAM Systems, Inc., the leading software engineering and IT Outsourcing (ITO) provider in Central and Eastern Europe (CEE), has been selected once again by the International Association of Outsourcing Professionals (IAOP) to the list of the world's best outsourcing service providers — The Global Outsourcing 100. EPAM's fifth consecutive inclusion in the ranking, as the highest rated Central & Eastern European provider, reaffirms EPAM's regional leadership as well as global competitiveness. Further testimony to EPAM's growing global recognition comes from its inclusion in additional sub-list rankings, such as "Best 10 Leaders in Revenue Growth" and "Best 10 Leaders by Industry Focus — Entertainment & Media".

The Global Outsourcing 100 list is based on the results of a rigorous review of the companies' competencies conducted by the Evaluation Team of judges. "As the economy recovers, partnering with the world's best outsourcing providers will be more important than ever," said Michael Corbett, IAOP chairman and chair of the judges' panel. "The Global Outsourcing 100® helps companies easily identify those partners who will help them emerge as leaders." EPAM has earned the highest scores in such key areas as Employee Management (maximum 8 pts), Sustained Growth, Executive Leadership, Customer References, and Company Recognitions.

"In a year that was challenging for most, being able to confirm our position among the global leaders demonstrates our clients' trust in EPAM's top quality service capabilities, as well as in our financial stability and maturity, that allowed us to share mutual risks during those difficult times and still to grow together," said Arkadiy Dobkin, President and CEO of EPAM Systems. "We look forward to capitalizing on this new level of partnership further during this much more optimistic 2010".

About IAOP

The International Association of Outsourcing Professionals™ (IAOP™) is the global, standard-setting organization and advocate for the outsourcing profession. With more than 100,000 members and affiliates worldwide, IAOP helps companies increase their outsourcing success rate, improve their outsourcing ROI, and expand the opportunities for outsourcing across their businesses. To learn more, visit www.outsourcingprofessional.org.

EPAM Systems extends regional lead in security adding ISO/IEC 27001:2005 standard certification to its existing SAS 70 Type II certification

Thu Apr 15 16:33:00 FEST 2010

Newtown, PA — April 15, 2010 — EPAM Systems, Inc., the leading software engineering and IT Outsourcing (ITO) provider in Central and Eastern Europe (CEE), announced today that it has received ISO/IEC 27001:2005 certification for its Information Security Management System (ISMS). EPAM obtained this reputable certification in Kyiv, Ukraine, from the Norway-based Det Norske Veritas (DNV), one of the world's leading assessment companies. The scope of the certificate is "Outsourced software development in accordance with the latest version of the Statement of Applicability".

ISO/IEC 27001:2005 is an internationally recognized standard that ensures that adequate and proportionate security controls are set within the organization to safeguard information and intellectual property assets. This certification specifies the requirements for establishing, implementing, operating, monitoring, reviewing, maintaining, and improving a documented Information Security Management System within the context of the organization's overall business risks.

This certificate demonstrates EPAM's dedication to protecting its clients' information assets and addressing security concerns by defining and maintaining the strictest security policies and verifying their adherence by recognized industry standards. This ISO/IEC 27001:2005 certification signifies that relevant laws and regulations are being met in practice, not just in theory.

"EPAM's ISO 27001:2005 certification provides substantial and quantifiable evidence to assure our customers of our dedication to safeguard their information assets. Our strong Information Security Management System now meets the world's two leading security standards. The recent ISO 27001 certification further demonstrates EPAM's region leading example of 3 years ago when we became the first ITO provider in Central and Eastern Europe to achieve SAS 70 Type II certification. ISO 270001:2005 and SAS 70 Type II combined continue our position of leadership in security for our industry and region and are vital parts of EPAM's global strategy," stated Balazs Fejes, EPAM CTO.

"Based on the auditors' findings collected throughout the certification process, we can state that the performance of EPAM, coupled with the management's commitment to operate this system, led to a successful certification process. Awarding the certificate means that a company meets the requirements of the standard. However, during this process, it was clear that EPAM surpassed the required level and showed a mature and well implemented information security management system," said László Adlovits, Country Manager at Det Norske Veritas.

Everest Group names EPAM as a "must-know" outsourcing vendor and the leading Central & Eastern European alternative to India

Wed Mar 03 15:33:00 FET 2010

Newtown, PA — March 3, 2010 — EPAM Systems, Inc., the leading software engineering and IT Outsourcing (ITO) provider in Central and Eastern Europe (CEE), has been selected as the "must-know" service supplier in Central and Eastern Europe by Everest Group, a global consulting and research firm.

Everest Group's Research Institute recently published the results of its study aimed to identify the remedies for global sourcing risk management issues. The report titled "Emerging Markets Suppliers: A valuable Lever for Risks Diversification" identifies the imperative for sophisticated buyer organizations to build a global portfolio of suppliers and to make it part of their delivery location management strategy that extends beyond an India-centric delivery model. While considering additional sourcing locations, the analysts advise buyers to consider rapidly evolving IT outsourcing destinations such as Brazil, Central and Eastern Europe, Israel, Mexico, the Philippines, and South Africa. From the six alternative markets, Everest Group examines the six key suppliers they recommend for sourcing risk mitigation. Their study concludes that these six vendors have "achieved meaningful operating scale and, through investments in delivery capabilities and adopting industry best practices, are successfully serving Global 1000 corporations."

"Over the past five years, emerging suppliers, such as the ones we profile in the study, have become strong, viable options for companies seeking to diversify their supplier and delivery location portfolios," noted Jimit Arora, Research Director at Everest. "Organizations should seriously evaluate these suppliers as they consider sourcing from these emerging geographies."

"Since 2008 a significant part of our new business has come from clients who have already had working relationships with vendors in India, and more than half of them today prefer to continue working with vendors in both geographies. It is good to see that Everest, who represents an unbiased expert opinion, has recognized the importance of this multi-location sourcing strategy for buyers and also highlighted Central and Eastern Europe as one of the world's leading destinations for complex software engineering work. We are especially pleased that the Everest report singled out EPAM Systems as the "must-know" service provider in our region. Such recognition is a result of more than 15 years of continuous success in providing quality services to the leading software product and technology companies as well as to Fortune 1000 multinational corporations around the globe," commented Arkadiy Dobkin, EPAM President and CEO.

You can download a copy of the Everest report at http://www.epam.com/e-library-download-whitepapers.aspx.

About Everest

Everest Group is a global consulting and research firm that comprehensively serves the outsourcing and offshoring market. An industry leader since creating the sourcing consultancy practice in 1991, Everest has earned a worldwide reputation for ongoing innovation by helping clients capture optimum value through sourcing strategies and implementation. Everest provides information, insight, and advice to help buyers, suppliers, and enablers of services effectively navigate all stages of the sourcing lifecycle. Committed to thought leadership, Everest is noted for its fact-based analyses and insights on the outsourcing and offshoring marketplace.
www.everestgrp.com
www.everestresearchinstitute.com

TCS, Infy, Wipro losing contracts to emerging rivals

Tue Jan 05 11:50:00 FET 2010

BANGALORE: Emerging nearshore rivals, including Ness Technologies of Israel, CPM Braxis of Brazil and Mexico-headquartered Softtek are increasingly becoming attractive for top outsourcing customers such as GE, Citibank and several others seeking to work with local, specialised vendors instead of sending all projects to offshore locations like India.

EPAM appoints new head for its SAP business

Wed Nov 18 11:58:00 FET 2009

Number one software engineering outsourcing services provider in central and eastern Europe, EPAM Systems, has appointed former head of SAP AG in the CIS and the Baltics, Aleksey Shlikov, Senior VP of its SAP division.

EPAM Systems becomes the sole ITO provider with development centers in Central and Eastern Europe ranked among "2009 Top 50 Best Managed Outsourcing Vendors"

Wed Sep 02 12:32:00 FEST 2009

Newtown, PA — September 2, 2009 — EPAM Systems, Inc., the leading software engineering and IT Outsourcing (ITO) provider in Central and Eastern Europe (CEE), has been recognized with yet another global award, demonstrating both its excellence in global service delivery as well as its regional leadership. Selected as one of "Top 50 Best Managed Outsourcing Vendors" on the widely referenced 2009 Global ITO firms ranking from Brown-Wilson Group, EPAM is the only Central and Eastern European service provider on this year's list.

The 50 Best Managed global outsourcing vendors are identified annually through "The Black Book of Outsourcing" by surveying actual service users, polling client experience, and assessing industry developments.

EPAM's inclusion into the 2009 list follows its recent success on The Black Book's vendor rankings where it earned the top honor globally as the #1 Software Product Development and Engineering company.

EPAM's long-term success, which draws on over 40 million hours of relevant software development experience, has been attributed to the unique combination of top engineering talent from Central and Eastern Europe, a set of comprehensive distributed project management tools and world class product development methodologies, relentless attention to quality and project performance, and adherence to the strictest security and infrastructure standards.

"Awards based on independent unbiased customers' feedback are the most satisfying and most valuable for EPAM. It is a clear demonstration of the high level of satisfaction from their outsourcing partnership and the results we deliver. Today more than ever, performance and dependability of ITO service providers are among the key pillars for maintaining the overall competitiveness of their business," noted Arkadiy Dobkin, EPAM's President and CEO. "I want to express our deepest gratitude to all who have contributed to the company's ongoing success".

About Brown-Wilson Group

The Brown & Wilson Group has established the reputation of being the world's leading offshoring advisory, and the producer of the trusted annual ranking of the Top 50 "Best Managed" Global Outsourcing Vendors.

The survey was conducted by Black Book Research, a division of Brown-Wilson Group, co-authors of "The Black Book of Outsourcing", based on the interviews of 3010 executives, 448 ballots from outsourcing users, and analysis of 125 offshore locations selected based on locally employed industry employee counts. Among the host of findings revealed by the survey is the leading position of the Russian and Eastern European vendors over the Indian and other offshore providers in the software product development outsourcing niche industry.

About EPAM Systems

Established in 1993, EPAM Systems, Inc. is the leading global software engineering and IT consulting provider with delivery centers throughout Central and Eastern Europe (CEE). Headquartered in the United States, EPAM provides services to clients worldwide utilizing a global delivery model through its client facing operations in North America, UK, Germany, and Sweden, together with 4,000+ professionals deployed across delivery centers in Russia, Belarus, Hungary, Kazakhstan, and Ukraine.

EPAM's core competencies include complex software product engineering for leading global software and technology vendors, as well as development, testing, maintenance, and support of mission critical business applications and vertically oriented IT consulting services for global Fortune 2000 corporations.

EPAM is recognized among the top companies in IAOP's "The 2009 Global Outsourcing 100" and in "The 2009 Global Services 100" by Global Services Magazine and neoIT. The company is the only CEE's IT services vendor included in the global "Top 10 Best Performers: IT Services" and also ranked the 2nd among the world's "Top 10 Best Performers: Outsourced Product Development" according to the magazine's 2009 rating.

EPAM's Capital Markets Competency Center helps MICEX strengthen its competitive edge through FAST and FIX protocol implementations

Wed Jul 15 12:38:00 FEST 2009

Newtown, PA — July 15, 2009 — B2BITS®, EPAM Systems' Capital Markets Competency Center providing tools and technologies for exchange connectivity, OMS and EMS solutions, has announced that it has completed the MFIX Market Data implementation for the Moscow Interbank Currency Exchange (MICEX) Group, the largest exchange in Russia, the CIS, and Central and Eastern Europe.

The MICEX Group provides integrated exchange services for electronic trading, clearing and settlement, as well as depository and information services.

MICEX teamed up with B2BITS®, which has solid track record in security industry solutions development and implementation, to create a generic market data interface compliant with the standard Financial Information Exchange (FIX) protocol.

MFIX Market Data provides subscription services to all securities traded on the exchange, as well as data snapshots, incremental updates, instrument definitions, and status information. MFIX Market Data supports both the FIX (versions 4.2 and 4.4) and FAST protocols, and its interface enables access to MICEX via a diverse range of vendor solutions designed for brokers, investment, and insurance companies. The services and interface provided by MFIX Market Data dramatically reduce the time for on-boarding of new clients.

MICEX commissioned the MFIX Market Data implementation in an effort to strengthen Russia's stock market competitive position, and this effort was included in the MICEX preliminary 2008 annual results report. In 2009, MICEX, partnering with B2BITS®, plans to develop a complex solution covering orders management for the Group's exchange markets to further differentiate their offerings.

"The implementation of a globally recognized protocol for market data distribution at MICEX is a significant step forward", said Alexandre Shlyappo, Director of the Trading Systems Development Department at MICEX. "B2BITS® FIX and FAST technologies provide superior throughput and very low latency, thus allowing us to substantially reduce the connectivity time and offer real time data streaming advantages to our global market participants."

"We are proud to have been involved in the implementation of the FAST and FIX protocols for the largest Russian Exchange. Carried out jointly by B2BITS®, EPAM Systems' Capital Markets Competency Center, and MICEX's IT Department, the integration with the exchange platform was a technological challenge which we have successfully overcome. We look forward to supporting and extending the usage of MFIX Market Data to clients globally," noted Mark Bisker, Senior VP of Banking and Finance Solutions, EPAM Systems.

About MICEX

The MICEX Stock Exchange is the largest stock exchange in Russia, the CIS, Eastern and Central Europe. The Exchange is among the world's 20 largest stock exchanges, accounting for about 90% of the total on-exchange volume of trading in the Russian market and about 50% of the global volume of trading in Russian stock assets. This makes it the center of formation of liquidity for Russian securities and the main floor where international investments in stocks and bonds of Russian companies are made.

The MICEX Stock Exchange organizes daily trading in stocks and bonds of more than 740 Russian issuers. 436 securities of 266 Russian issuers are listed on the Exchange. Participants in trading are more than 670 organizations — professional participants in the securities market which serve 645 thousand clients, including 622 thousand individual investors (on 1.01.2009: 559 thousand). Trading is held electronically on the basis of an up-to-date trading system. The Stock Exchange is connected with regional trading floors and more than 1700 remote workplaces in banks, brokerage firms and other financial institutions in 100 Russian cities.
www.micex.com

About EPAM Systems

Established in 1993, US-based EPAM Systems is the leading global software engineering and IT consulting provider with delivery centers in Central and Eastern Europe and client facing operations in North America, UK, Germany, and Sweden. With 4,500 professionals deployed across development locations in Russia, Belarus, Hungary, Kazakhstan, and Ukraine, EPAM delivers complex software product engineering for leading global software and technology vendors, as well as development, testing, maintenance, and support of mission critical business applications and vertically oriented IT consulting services for global Fortune 2000 corporations.

B2BITS®, EPAM Systems Capital Markets Competency Center, delivers solutions that cover trading and operations in all asset classes including Equities, FX, Options, and Fixed Income. The Center's reusable frameworks and components include OMS, matching engines, market data feeds adapters, exchange gateways, and electronic payment services utilized in many trading firms, banks, brokerage and clearing houses, as well as exchanges.
www.b2bits.com
www.epam.com

EPAM Systems reconfirms its status of a leading Software Services company in Central and Eastern Europe and Russia on IAOP's "2009 Global Outsourcing 100"

Tue May 19 12:42:00 FEST 2009

IAOP also recognizes EPAM's deep specialization by key verticals in multiple sub-lists

EPAM ranked among the 'Top 10' global IT services leaders for the second consecutive year within "2009 Global Services 100"

Wed Mar 11 11:48:00 FET 2009

EPAM confirms its #1 position in Central and Eastern Europe among IT service vendors by being the only company with development centers across the region selected into the most prestigious category of the leading global 100 innovative service providers — "Top 10 Best Performers: IT Services"

Learning everything on the job

Thu Feb 05 12:07:00 FET 2009

"Anybody could be in the right place at the right moment. But then its very important to have also business acumen and a lot of flexibility to lead a company," says Arkadiy Dobkin, EPAM CEO

EPAM honored for outstanding revenue growth on New Jersey's Finest ranking

Wed Dec 03 13:40:00 FET 2008

The company is rated 5th among the region's 50 fastest growing companies

Lawrenceville, NJ — December 3, 2008 — EPAM Systems, Inc. was honored as the 5th within the fifty fastest growing companies ranking of New Jersey businesses by NJBIZ, the state's weekly business journal. EPAM Systems (www.epam.com) is a leading provider of software engineering and IT Outsourcing (ITO) services with delivery centers in Central and Eastern Europe (CEE).

New Jersey and its vicinity is home to over 20 percent of the FORTUNE 500® company headquarters, with more than 1,100 multinational firms from over 40 nations. This region is often referred to as "the epicenter of the nation's largest business corridor." EPAM, founded and headquartered in Lawrenceville, has made the New Jersey's Finest list for the 3rd consecutive year, and was honored by NJBIZ on November 17th at their annual award ceremony.

"We are proud to be among the winners of this prestigious award. EPAM's technology expertise and global presence that help companies outsource critical IT needs in a timely and cost-effective manner — in our case, worldwide — have served us, and our clients, well. Congratulations to all the winners! We are committed to continue bringing value to our clients, while growing EPAM Systems in this difficult business environment," stated Arkadiy Dobkin, EPAM President and CEO.

About NJBIZ

NJBIZ, New Jersey's only weekly business journal covering the entire state, was founded in 1987. The publication has received numerous statewide and national awards including the 2006 Most Improved Award from the Alliance of Area Business Publications.

NJBIZ is owned by Journal Publications Inc., a multi title publishing and events company based in Harrisburg, Pennsylvania.
www.njbiz.com

About EPAM Systems

Established in 1993, EPAM Systems, Inc. is the leading global software engineering and IT consulting provider with delivery centers throughout Central and Eastern Europe (CEE). Headquartered in the United States and serving clients worldwide, EPAM provides software development and IT related services through its more than 4,500 professionals deployed across client delivery centers in Russia, Belarus, Hungary, and Ukraine.

EPAM's core competencies include complex software product engineering for leading global software and technology vendors, as well as development, testing, maintenance, and support of mission critical business applications and vertically oriented IT consulting services for global Fortune 2000 corporations.

EPAM is ranked among the top companies in IAOP's "The 2008 Global Outsourcing 100" and in "2007 Top 50 Best Managed Outsourcing Vendors" by Brown-Wilson Group's Black Book of Outsourcing. Global Services Magazine recognized EPAM in its "2008 Global Services 100" list as No.1 company in the "Emerging European Markets" and included EPAM into the global Top 10 "Best Performing IT Services Providers".
www.epam.com

EPAM advances within the list of world’s largest software and service providers — The Software 500

Mon Dec 01 13:31:00 FET 2008

Global software engineering leader congratulates its 29 ISV clients sharing the prestigious list

Lawrenceville, NJ — December 1, 2008 — EPAM Systems, Inc., the leading software engineering and IT Outsourcing (ITO) provider with delivery centers in Central and Eastern Europe (CEE), announced today that it has advanced to the 190th place on Software Magazine’s annual ranking of the world’s 500 largest software and service providers — The Software 500.

EPAM is proud to be named on the prestigious The Software 500 list along with 29 of its ISV (Independent Software Vendors) clients, ranging from promising start-ups to global software leaders including three of the Top 10 honorees on the list.

Since its inception in 1993, EPAM has enabled ISVs and other technology focused organizations to build, maintain and support world-class software products.

Today, utilizing the talent and experience of thousands of engineers located in advanced development centers across Central and Eastern Europe, EPAM covers the complete software development lifecycle from research to prototyping and development, testing, deployment, maintenance and support for variety of products including world’s leading ERP and eCommerce applications as well as specialized embedded software that controls some of the most sophisticated electronic devices.

In addition EPAM offers its unique ability to deliver complex distributed professional services including architecture level consulting, product customization, porting and cross-platform migration, as well as deployment of mission critical enterprise level highly customized solutions built on top of the standard product functionality.

"We would like to congratulate our 29 ISV clients who made this year’s list. We extend our thanks for the opportunity we have enjoyed to grow together and to leverage each other’s strengths," commented Arkadiy Dobkin, EPAM’s President and CEO, noting: "We are also confident that many of our younger, but nevertheless innovative and fast growing clients will make the list in coming years."

About Digital Software Magazine, the Software Decision Journal, and Softwaremag.com

The Software 500 is a revenue-based ranking of the world’s largest software and services suppliers targeting medium to large enterprises, their IT professionals, software developers and business managers involved in software and services purchasing. According to the results of the survey, the software industry continues to grow in total revenue, representing growth of 14.7% from the previous year, while the total employee growth rate of 1.3% shows modest increase compared to 2007. "The Software 500 helps CIOs, senior IT managers and IT staff research and create the short list of business partners," said John P. Desmond, Editor of Software Magazine and softwaremag.com.

Digital Software Magazine, the Software Decision Journal, has been a brand name in the high-tech industry for 30 years. Softwaremag.com, its Web counterpart, is the online catalog to enterprise software and the home of the Software 500 ranking of the world’s largest software and services companies, now in its 26th year. Software Magazine and Softwaremag.com are owned and operated by King Content Co.
www.softwaremag.com

About EPAM Systems

Established in 1993, EPAM Systems, Inc. is the leading global software engineering and IT consulting provider with delivery centers throughout Central and Eastern Europe (CEE). EPAM's core competencies include complex software product engineering for leading global software and technology vendors, as well as development, operation, maintenance, support, and testing software. Russia, Ukraine, Belarus, and Hungary are among EPAM’s major delivery centers augmented by multiple client facing operations in North America, UK, Germany, and Sweden.

EPAM is ranked among the top companies in IAOP's "The 2008 Global Outsourcing 100" and in "2007 Top 50 Best Managed Outsourcing Vendors" by Brown-Wilson Group's Black Book of Outsourcing. Global Services Magazine recognized EPAM in its "2008 Global Services 100" list as the No.1 company in the "Emerging European Markets" and included EPAM into the global Top 10 "Best Performing IT Services Providers".

IBS cites EPAM's expert opinion on the wealth management development in the Russian banking sector

Sat Nov 01 16:55:00 FET 2008

In its overview of the wealth management sector affected by the recent market turmoil, and the technology drivers that keep the market busy — wealth management systems, IBS provides expert opinion shared by the international industry think-tanks regarding the trends set in and the remedies for regeneration. Sergey Shelyagin, EPAM Director, CIS Operations, expresses his views on the wealth management state in the Russian banking business, referring to several corporate clients — Renaissance Capital and Troika Dialog — to illustrate the latest developments and best practices employed by the financial services organizations in Russia.

EPAM Systems continues European expansion with new Nordic operation

Wed Oct 15 14:06:00 FEST 2008

Continuing its global growth, EPAM is strengthening its commitment to local markets in Europe by opening its first operation in Sweden and appointing Stephen Bannister as Vice President Delivery, Nordics

Lawrenceville, NJ — October 15, 2008 — EPAM Systems, Inc. (www.epam.com), the leading software engineering and IT Outsourcing (ITO) provider, with delivery centers in Central and Eastern Europe (CEE), is expanding its European business with Stockholm office, the first of several offices in Scandinavia to provide "onshore" consulting and support to its Nordics clients, while enhancing its "NearShore" delivery capabilities of 4,500+ engineers in Hungary, Ukraine, Belarus and Russia.

EPAM is pleased to announce the appointment of Stephen Bannister, as Vice President of Delivery for EPAM Systems Nordic AB. Stephen will be initially focusing on establishing the Nordic management and delivery team for our Software Development, Maintenance and Support, BI, Capital Markets, Enterprise Integration and QA-Testing practices as well as the establishment of other offices in the region.

Stephen Bannister brings 26 years of international experience, 22 of which have been in Sweden. Stephen comes most recently from Lawson where he was responsible for the consulting organization in Sweden. Prior to that, Stephen had a global responsibility within the Oracle Global Support organization and held consulting management roles at Netscape, SUN, Informix, and ICL.

"The adoption of Offshore and NearShore services is growing in Scandinavia, providing excellent timing to leverage EPAM’s maturity and deep experience as the leading Central and Eastern European service provider. Adding a solid Scandinavian presence of domain consultants, technical engagement leaders, and project managers, reflects EPAM’s balanced approach to NearShore service delivery. Several members of EPAM’s senior management team have lived and worked in Sweden for many years, as have a handful of our senior NearShore delivery leaders — so EPAM knows the culture, the processes, and the language and believes that this model will provide the ideal alternative to distant Offshoring and organizations heavily biased towards onshore services,” stated Karl Robb, Executive Vice President of EPAM Systems, Inc., and President of EPAM Europe. “EPAM is a people company. Stephen is someone with whom I worked at ICL in Belgium and in Sweden for 4 years and who was later a happy customer of EPAM while he was at SUN Microsystems in Stockholm. I know him, trust him, and I am unquestionably confident in his abilities to successfully build EPAM’s operations in the Nordics," he added.

About EPAM Systems

Established in 1993, EPAM Systems, Inc. is the leading global software engineering and IT consulting provider with delivery centers throughout Central and Eastern Europe (CEE). Headquartered in the United States and serving clients worldwide, EPAM provides software development and IT related services through its 4500 professionals deployed across client delivery centers in Hungary, Belarus, Ukraine, and Russia.

EPAM's core competencies include complex software product engineering for leading global software and technology vendors, as well as development, testing, maintenance, and support of mission critical business applications and vertically oriented IT consulting services for global Fortune 2000 corporations.

EPAM is ranked among the top companies in IAOP's "The 2008 Global Outsourcing 100" and in "2007 Top 50 Best Managed Outsourcing Vendors" by Brown-Wilson Group's Black Book of Outsourcing. Global Services Magazine recognized EPAM in its "2008 Global Services 100" list as the No.1 company in the "Emerging European Markets" and included EPAM into the global Top 10 "Best Performing IT Services Providers".

EPAM has successfully delivered projects to industry leaders such as Thomson Reuters, London Stock Exchange, Renaissance Capital, Schlumberger, Colgate-Palmolive, SAS, The Coca-Cola Company, British Telecom, Telenor Group, CareFirst BlueCross BlueShield, ScrewFix, AeroMexico, S7 Airlines, and Halliburton, as well as technology leaders such as SAP, Microsoft, Oracle and BEA Systems.
www.epam.se

Top 50 emerging global outsourcing cities

Wed Oct 01 13:25:00 FEST 2008

They are not Bangalores or Makatis yet; but they could get there sooner. There are nine new entrants and six dropouts from the 2007 list

Tier-1 global service providers such as Accenture, ACS, Cognizant, Capgemini, CSC, EDS, Genpact, HP, IBM, Infosys, LogicaCMG, TCS, Satyam and Wipro continue to increase their global presence. The difference is that service providers such as IBM and Accenture are looking to tier-2 and tier-3 Indian cities for expansion, while the Indian providers Infosys, TCS and Wipro are heading toward cities in South America and Eastern Europe.

EPAM's multiple development locations are recognized as meeting the world's leading security and infrastructure standards

Tue Aug 05 13:21:00 FEST 2008

SAS 70 Type II certification completed for the three locations in Central and Eastern Europe, while the outsourcing leader becomes a finalist for the International Business Awards in "Best MIS&IT" category

Lawrenceville, NJ — August 5, 2008 — EPAM Systems, Inc., the leading software engineering and IT Outsourcing (ITO) provider, with delivery centers in Central and Eastern Europe (CEE), announced today that its development center in Kyiv, Ukraine, became an additional outsourcing location meeting the world’s leading security standards. The Kyiv center has been recently assessed for the SAS 70 Type II requirements by Deloitte Co. Ltd., making EPAM the first company in Central and Eastern Europe with three SAS 70 Type II location certifications, including Budapest, Hungary, and Minsk, Belarus, and now Kyiv, Ukraine, with guarantees of the highest operational security levels.

SAS 70, a Statement on Auditing Standards (SAS) No. 70, Service Organizations, was developed by the American Institute of Certified Public Accountants (AICPA) as a method to measure a service organization’s efficiency in providing due controls over sensitive customer data. With the introduction of the Sarbanes-Oxley Act, which defines means of regulating the controls over financial reporting, the Type II SAS 70 report has been identified as the only acceptable method for a third party to assure a service organization's controls and financial transparency. Unlike a Type I report, where the service auditor will express an opinion on controls as of a specific date, in a Type II report the auditor gives an opinion on controls in effect during a particular period of time, making the certification more challenging and meaningful.

Upon the assessment completion, Deloitte’s Enterprise Risk Services Senior Manager Ralph van Uden stated that all controls at EPAM’s Kyiv location were placed in operation, suitably designed, and operating 100% effectively: "The local EPAM team was well prepared and has been very supportive throughout the week to make sure that we could finish our testing in time… We were pleased to see that all controls in scope were tested to be operating effectively."

As the leading organization, deploying advanced technologies and adhering to the strictest regulatory requirements, EPAM recently completed the beta program for VMware’s Stage Manager, a breakthrough product for accelerating and automating the delivery of applications from staging to production. This and other developments, related to EPAM’s infrastructure and security, contributed to the most recent recognition of EPAM by the Stevie Awards as the finalist in the "Best MIS and IT Organization" category of the 5th annual International Business Awards, with the runner-up Accenture, and the winner British Telecom Group.

"Deploying the IT infrastructure, that meets the stringent requirements for customer data processing, compliant with the world’s leading security and infrastructure standards, is a vital part of EPAM’s enterprise-wide program. It ensures that all our operational facilities apply the same control objectives and management activities, and leverages our investment into our clients’ competitive advantage," stated Balazs Fejes, EPAM’s CTO. "As the acknowledged software engineering and IT outsourcing leader, EPAM continues to lead within the Central and Eastern European market by setting a high standards bar throughout the region, and worldwide."

About the AICPA and SAS No. 70, Service Organizations

The American Institute of Certified Public Accountants is the national, professional association of CPAs, with more than 350,000 CPA members in business and industry, public practice, government, education, student affiliates, and international associates. It sets ethical standards for the profession and U.S. auditing standards for audits of private companies, non-profit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination. The AICPA maintains offices in New York, Washington, Durham, N.C., Ewing, N.J., and Lewisville, Texas.

SAS No. 70, developed by AICPA, provides guidance on the factors an independent auditor should consider when auditing the financial statements of an entity that uses a service organization to process certain transactions. It also provides guidance for independent auditors who issue reports on the processing of transactions by a service organization for use by other auditors.
www.aicpa.org

About EPAM Systems

Established in 1993, EPAM Systems, Inc. is the leading global software engineering and IT consulting provider with delivery centers throughout Central and Eastern Europe (CEE). Headquartered in the United States and serving clients worldwide, EPAM provides software development and IT related services through its 4,500 professionals deployed across client delivery centers in Russia, Belarus, Hungary, Kazakhstan, and Ukraine.

EPAM's core competencies include complex software product engineering for leading global software and technology vendors, as well as development, testing, maintenance, and support of mission critical business applications and vertically oriented IT consulting services for global Fortune 2000 corporations.

EPAM is ranked among the top companies in IAOP's "The 2008 Global Outsourcing 100" and in "2007 Top 50 Best Managed Outsourcing Vendors" by Brown-Wilson Group's Black Book of Outsourcing. Global Services Magazine recognized EPAM in its "2008 Global Services 100" list as the No.1 company in the "Emerging European Markets" and included EPAM into the global Top 10 "Best Performing IT Services Providers".

West meets East

Tue Jul 01 13:33:00 FEST 2008

For Western Europe and the U.S., Central and Eastern European countries are emerging as highly attractive outsourcing destinations.

Over the past decade, with the support of modern communication networks and high standards of education, many countries have climbed to the top of the offshoring tree. Among these are countries in Central and Eastern Europe (CEE). Though CEE does not provide cost savings to the same extent as other offshore locations, its cultural and geographical similarities to Western Europe and language capabilities make it a serious contender for outsourcing operations.

EPAM Chairman and CEO Arkadiy Dobkin named Ernst & Young Entrepreneur Of The Year® 2008 award winner in New Jersey

Tue Jul 01 13:09:00 FEST 2008

Award recognizes entrepreneurial excellence in Information Technology Consulting category

Lawrenceville, NJ — July 1, 2008 — EPAM Systems, Inc., the leading software engineering and IT Outsourcing (ITO) provider with delivery centers in Central and Eastern Europe (CEE), announced today that Arkadiy Dobkin, EPAM Founder, Chairman and CEO, has been named winner of the Entrepreneur Of The Year®2008 award in New Jersey, Information Technology Consulting category, organized by Ernst & Young, a global leader in assurance, tax, transaction, and advisory services.

According to Ernst & Young, the awards are given to entrepreneurs who demonstrate extraordinary success in the areas of innovation, financial performance and personal commitment to their businesses and communities. The awards nominees were evaluated by independent regional panels of judges who assessed contenders for each designated category by the following criteria: vision, leadership, achievement, and social responsibility reflected in the revenue growth, innovation, risk-taking, and personal commitment to the business and the community.

An immigrant to the US, in 1993 Arkadiy Dobkin formed EPAM, which became one of the first outsourcing companies to leverage the talented pool of Eastern European engineers. Under his supervision EPAM grew into a strong multicultural team of best-in-class IT professionals referenced by company’s Fortune 500 global clients, industry professionals, and media. By 2006, Consulting Magazine named Arkadiy Dobkin one of the Top 25 Consultants of the Year. In 2007 Dobkin was shortlisted as a top three finalist of the Ernst & Young NJ awards program together with the founders of Cognizant Technology Solutions and Artech Information System. In the victorious 2008, Arkadiy Dobkin was nominated for the awards in the Information Technology Services category by a global technology leader SAP, one of EPAM’s partners and customers with an eleven-year successful partnership record.

"Ernst & Young is pleased to honor outstanding business leaders such as Arkadiy Dobkin," said Keith Brownlie, Ernst & Young Entrepreneur Of The Year Program Director for New Jersey. "Winners of the Entrepreneur of The Year award build leading businesses and contribute a great deal to the communities around them. Their success helps our area grow stronger."

"I would like to thank EPAM co-founders, veterans, and all employees for their hard work and commitment to our common goal. This success can be attributed literally to everybody in the company, in North America and Europe, and I am happy and proud to be a part of this innovative and dedicated team," noted Arkadiy Dobkin, EPAM Chairman and CEO.

As a New Jersey award winner, Arkadiy Dobkin is now eligible for consideration for the Ernst & Young Entrepreneur of The Year 2008 national program. Award winners in several national categories, as well as the overall national Ernst & Young Entrepreneur Of The Year award winner, will be announced at the annual awards gala in Palm Springs, California on November 15, 2008. The awards are the culminating event of the Ernst & Young Strategic Growth Forum, the nation’s most prestigious gathering of high-growth, market-leading companies.

About EPAM Systems

Established in 1993, EPAM Systems, Inc. is the leading global software engineering and IT consulting provider with delivery centers throughout Central and Eastern Europe (CEE). Headquartered in the United States and serving clients worldwide, EPAM provides software development and IT related services through its 4,000 professionals deployed across client delivery centers in Russia, Belarus, Hungary, and Ukraine.

EPAM's core competencies include complex software product engineering for leading global software and technology vendors, as well as development, testing, maintenance, and support of mission critical business applications and vertically oriented IT consulting services for global Fortune 2000 corporations.

EPAM is ranked among the top companies in IAOP's "The 2008 Global Outsourcing 100" and in "2007 Top 50 Best Managed Outsourcing Vendors" by Brown-Wilson Group’s Black Book of Outsourcing. Global Services Magazine recognized EPAM in its "2008 Global Services 100" list as No.1 company in the "Emerging European Markets" and included EPAM into the global Top 10 "Best Performing IT Services Providers".

For more information on EPAM Systems, Inc., please visit www.epam.com.

About the Ernst & Young Entrepreneur Of The Year Awards

Ernst & Young’s Entrepreneur Of The Year is the world’s most prestigious business award for entrepreneurs. The award makes a difference through the unique way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Ernst & Young Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 135 cities in 50 countries.

About Ernst & Young

Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 130,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve potential. For more information, please visit www.ey.com.

Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.

EPAM Systems announces $50 million capital raise

Mon May 19 12:56:00 FEST 2008

Additional capital will further fuel organic growth, fund acquisitions and expand EPAM’s global delivery footprint

Lawrenceville, NJ — May 19, 2008 — EPAM Systems, Inc., the leading software engineering and IT Outsourcing (ITO) provider with delivery centers in Central and Eastern Europe (CEE), announced today that it has completed an oversubscribed US$50 million minority investment round with three highly regarded global institutional investors.

Renaissance Capital, a leading investment banking firm focused on Europe, the Middle East and Africa (EMEA), acted as a sole advisor on the transaction. Renaissance Investment Management and Da Vinci Capital acted as lead investors (Renaissance Capital and Renaissance Investment Management are part of the Renaissance Group) with additional capital raised through Euroventures Capital.

"Last year EPAM organically grew for over 50% and significantly surpassed the 2007 annual revenue target of US$100 million. To sustain such growth and successfully compete on the global market with best companies in the world, EPAM has to aggressively invest into global professional talent and infrastructure as well as to fund specific acquisitions in North America and Europe to broaden EPAM portfolio of services for the growing base of global clients. This capital raise provides us with an opportunity to do so now," said Arkadiy Dobkin, Chairman and CEO of EPAM Systems.

With offshore software development centers in Russia, Belarus, Hungary, and Ukraine, EPAM presents the most comprehensive and experienced resource pool of over 4,000 developers in the region, complemented by strong onsite management and delivery capabilities in Europe and North America.

"We are extremely pleased to announce the successful culmination of this capital raise and are proud to have the opportunity to partner with and advise EPAM in relation to this transaction. From the very beginning, we considered EPAM a truly unique investment opportunity, operating within the lucrative and fast growing global IT services market. The interest in EPAM that we saw from the investment community across various regions of the world exceeded our expectations and is a testament to the strength of EPAM's vision, expertise and customer loyalty," stated Andrew Cornthwaite, Global Head of Investment Banking and Finance at Renaissance Capital.

About EPAM Systems

Established in 1993, EPAM Systems, Inc. is the leading global software engineering and IT consulting provider with delivery centers throughout Central and Eastern Europe (CEE). Headquartered in the United States and serving clients worldwide, EPAM provides software development and IT related services through its 4,000 professionals deployed across client delivery centers in Russia, Belarus, Hungary and Ukraine.

EPAM's core competencies include complex software product engineering for leading global software and technology vendors, as well as development, testing, maintenance, and support of mission critical business applications and vertically oriented IT consulting services for global Fortune 2000 corporations.

EPAM is ranked among the top companies in IAOP's "The 2008 Global Outsourcing 100" and in "2007 Top 50 Best Managed Outsourcing Vendors" by Brown-Wilson Group’s Black Book of Outsourcing. Global Services Magazine recognized EPAM in its "2008 Global Services 100" list as No.1 company in the "Emerging European Markets" and included EPAM into the global Top 10 "Best Performing IT Services Providers".

For more information on EPAM Systems, Inc., please visit www.epam.com.

About Renaissance Capital and Renaissance Investment Management

Renaissance Capital delivers innovative financial and investment solutions to government, corporate and institutional clients in high-opportunity emerging markets around the world. It is the leading independent investment bank in the CIS and emerging EMEA markets. Renaissance Investment Management manages a family of investment funds with different asset allocations and risk-return profiles. It is also an innovator in developing instruments to provide access to investment opportunities in Russia and other CIS markets. For more information on the Renaissance Group please visit www.renaissancegroup.com.

About Da Vinci Capital Management

Da Vinci Capital Management is a group of companies that focus on alternative investments, private equity and structured products in the CIS and other global emerging markets. Da Vinci Capital Group currently has over $5 billion in assets under management. For more information on Da Vinci Capital Management please visit www.dvcap.com.

About Euroventures

Founded in 1989, Euroventures is one of the longest-established and leading independent private equity firms in Central Europe. Euroventures' investor base includes ABN AMRO Bank, Credit Suisse Life & Pensions, European Bank for Reconstruction and Development (EBRD), and the European Investment Fund (EIF). For more information on Euroventures please visit www.euroventures.hu.

International Association of Outsourcing Professionals (IAOP) reconfirms EPAM Systems' status as the leading IT Outsourcing authority in Central and Eastern Europe (CEE), Russia

Fri May 16 12:42:00 FEST 2008

IAOP also promotes EPAM to six individual sub-lists of the 2008 Global Outsourcing 100 ranking of the world's best outsourcing service providers

EPAM acquisition adds financial sector clout

Fri Apr 18 13:49:00 FEST 2008

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.

EPAM Systems Acquires B2BITS to Strengthen its Financial-services Offerings

Fri Apr 04 13:53:00 FEST 2008

The company also sets up a Capital Markets Competency Center

EPAM Systems has recently acquired B2BITS, a provider of solutions and consulting services to capital markets. From this acquisition, EPAM Systems aims to gain the domain expertise of B2BITS that would help in servicing the financial services’ customers more efficiently. The financial terms and the mode were not disclosed.

EPAM Systems acquires B2BITS Corp., a leading provider of solutions and consulting services to the capital markets

Thu Apr 03 12:26:00 FEST 2008

EPAM establishes a Capital Markets Competency Center, led by industry veteran Mark Bisker, strengthening the company’s offering for clients in the Financial Services sector where EPAM already has over 600 engineers providing development, maintenance, and support services to leading firms.

EPAM wins its third European ITO Leader title and makes to the world’s Top 10 "Best Performing IT Services Providers" on the 2008 Global Services 100

Mon Feb 11 10:32:00 FET 2008

Lawrenceville, NJ — February 11, 2008 — EPAM Systems, Inc., the leading global software engineering outsourcing provider with development centers in Central and Eastern Europe, announced today that it has reconfirmed its status as the foremost IT outsourcing vendor in Europe. The company has been awarded the #1 position in the "Emerging European Markets" category of the 2008 Global Services 100 ranking. EPAM is also the first and the sole software engineering services provider with development locations in Central and Eastern Europe named among the global Top 10 "Best Performing IT Services Providers", rated 8th overall.

EPAM has been featured in the annual Global Services 100 ranking since its inception in 2005 and three times was named #1 among companies from Central and Eastern Europe proving its continued leadership.

The 2008 Global Services 100 is a compilation of the world’s most innovative service providers, selected on the basis of a research study conducted by Global Services Media and outsourcing analysts at neoIT. The study is designed to identify aspects of the companies' achievement in four key areas: finance, operations, clients and people. Over its 4-year history, this initiative has earned a reputation of a trusted source of global outsourcing information for ITO buyers which reveals the leading providers of business and technology services short-listed in 10 key service-delivery areas. The rating winners will receive awards at a special ceremony at the Global Services Conference in New York City on March 12, 2008.

EPAM CEO and President Arkadiy Dobkin commented: "We are very proud of being named this year not just the leading European vendor but also one of the top 10 best performing IT services providers globally. This recognition confirms the definitive acceptance of Eastern European vendors to the elite group of ITO industry leaders based on the demonstrated delivery capabilities, depth of the engineering talent and client satisfaction."

About Global Services

Global Services is a media platform with a portfolio that includes a magazine, website, events, newsletter and customized solutions. Our audience consists of corporate professionals engaged in the sourcing and management of business and technology services. Global Services is owned by CyberMedia (India) Limited. www.globalservicesmedia.com

About neoIT

neoIT is a management consulting firm that helps leading corporations improve and grow their business by capitalizing on services globalizationsm. Through a blend of strategic advisory services and hands-on execution support, neoIT provides advice and management expertise on the globalization of Information Technology (IT) and Business Process Outsourcing (BPO) services. For more information, visit www.neoIT.com.

About EPAM Systems

New-Jersey based EPAM Systems is a leading global provider of software development outsourcing services employing the most advanced development methodologies such as RUP and Agile. CIS countries Russia, Belarus, and Ukraine, as well as Hungary in Central Europe locate EPAM’s major offshore software development centers. EPAM offers the largest resource pool in CEE combined with the strongest onsite management and delivery capabilities in North America and Europe.

In "The 2007 Global Outsourcing 100" EPAM was rated the top Central/Eastern European and Russian ITO service provider and was the only CEE/Russian IT outsourcer included in the Leaders category. EPAM is also the sole CEE/Russian IT outsourcing company listed on "The 2007 Top 50 Best Managed Outsourcing Vendors."

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, CareFirst BlueCross BlueShield, Schlumberger and Halliburton, and technology leaders such as SAP, Microsoft, and Oracle.
www.epam.com

For further information, please contact: press@epam.com

Top 10 Leaders, Emerging European Markets — 2008 Winner EPAM

Thu Jan 31 12:57:00 FET 2008

While the IT-services outsourcing market of Central and Eastern Europe is not more than 1 percent of the nearly $386 billion (est. 2007) global outsourcing market, providers like EPAM are grabbing this opportunity to emerge as global players.

EPAM Systems named Private Company of the Year

Thu Nov 15 12:13:00 FET 2007

Lawrenceville, NJ — November 15, 2007 — EPAM Systems, Inc., the leading global offshore software engineering outsourcing provider with development centers in Central and Eastern Europe, has been named Private Company of the Year by the New Jersey Technology Council (NJTC), a non-profit membership organization that provides networking opportunities to the state's technology businesses.

EPAM was selected winner in the category of the NJTC Super Awards having excelled by such criteria as market leadership, unique product/service provision and strong financial performance.

The winners will be honored at the NJTC Awards Gala on November 15, 2007, an annual black-tie event that attracts over 500 attendees. The NJTC Awards was founded in 1996 to publicly recognize and celebrate some of the most successful companies in the New Jersey technology community.

In 2007 EPAM's entrepreneurial success and market leadership have been acknowledged by a number of other reputable NJ region's industry associations and media. In addition to being named the NJTC Private Company of the Year, EPAM has been named to such prestigious lists as New Jersey's Finest (by NJBIZ), Technology Fast 50 for New Jersey (by Deloitte), and Philadelphia 100 (by Entrepreneurs' Forum of Greater Philadelphia, Philadelphia Business Journal, Wharton SBDC). Arkadiy Dobkin, EPAM’s Founder and CEO, was also selected a finalist in the regional Ernst & Young Entrepreneur of the Year 2007 awards program.

"Being recognized by the New Jersey Technology Council is an honor for us," noted Arkadiy Dobkin, EPAM CEO and President. "We are pleased that our initial business concept from 1993, which was to leverage Central and Eastern Europe's talented engineering resource pool for implementing complex and sophisticated software solutions for the North American and European clients, has proved worthwhile. EPAM will continue utilizing CEE's outstanding potential in producing highly-skilled IT manpower to meet the expectations of top quality, innovation, deep expertise and engineering creativity posed by our customers in and beyond the U.S. borders."

About the New Jersey Technology Council

The New Jersey Technology Council provides business support, networking opportunities, information, advocacy and recognition of technology companies and their leaders. Founded in 1996, NJTC's more than 1,200 member companies work together to support their own enterprises while advancing New Jersey's status as a leading technology center in the United States.
www.njtc.org

About EPAM Systems

New-Jersey based EPAM Systems is independently recognized as a leading global provider of software development outsourcing services. With offshore software development centers in Russia, Hungary, Belarus, and Ukraine, EPAM offers the largest resource pool in Central/Eastern Europe and Russia combined with the strongest onsite management and delivery capabilities in North America and Europe.

In "The 2007 Global Outsourcing 100" EPAM was rated the top Central/Eastern European and Russian ITO service provider and was the only CEE/Russian IT outsourcer included in the Leaders category. EPAM is also the sole CEE/Russian IT outsourcing company listed on "The 2007 Top 50 Best Managed Outsourcing Vendors".

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, BEA Systems, Microsoft, and Oracle.
www.epam.com

EPAM listed in Top 10 in its revenue category on the 2007 Software 500 rating of the world's largest software and services providers

Thu Oct 18 13:19:00 FEST 2007

Lawrenceville, NJ — October 18, 2007 — EPAM Systems, Inc., the leading global offshore software engineering outsourcing provider with development centers in Central and Eastern Europe, has — for the fourth year running — been included in the Software 500 list, Software Magazine's 25th anniversary ranking of the world's largest software and services providers.

This year, EPAM has been named among the top 10 companies in the $30 M — $100 M revenue range with 2006 growth of 75%, and in its four years on the Software 500 list the company has moved up 128 positions to reach No. 227 in 2007.

"The 2007 Software 500 results show that growth in the software and services industry was healthy from 2006 to 2007, the ranking year," said John P. Desmond, editor of Software Magazine and Softwaremag.com. According to the survey, the worldwide application development, maintenance and management services sector demonstrates growth of 3.5%. Compared to last year, when the total Software 500 revenue was $381 billion, the 2007 survey evidences $394 billion in the total revenue for 2006. "The Software 500 helps CIOs, senior IT managers and IT staff research and create the short list of business partners. It is a quick reference of vendor viability. That is content of value," Desmond said. This year the prestigious ranking has been augmented with 132 new fast growing companies.

"Repeatedly making the list of the world's largest software and services providers is indicative of EPAM's notable business progress," commented Arkadiy Dobkin, EPAM CEO and President, on the company's recognition. "EPAM's proven performance is not confined only to financial growth indicators. A significant influx of quality software engineering talent and a blue-chip customer base also benchmark EPAM's success as an employer as well as a premium software engineering outsourcing partner. We would like to extend our gratitude to the EPAM partners, clients, and employees for their invaluable contribution in helping EPAM become a market leader."

About Digital Software Magazine, the Software Decision Journal, and Softwaremag.com

Digital Software Magazine, the Software Decision Journal, has been a brand name in the high-tech industry for nearly 30 years. Softwaremag.com, its Web counterpart, is the online catalog to enterprise software and the home of the Software 500 ranking of the world’s largest software and services companies, now in its 25th year. Software Magazine and Softwaremag.com are owned and operated by King Content Co.
www.softwaremag.com

About EPAM Systems

New-Jersey based EPAM Systems is independently recognized as a leading global provider of software development outsourcing services. With offshore software development centers in Russia, Hungary, Belarus, and Ukraine, EPAM offers the largest resource pool in Central/Eastern Europe and Russia combined with the strongest onsite management and delivery capabilities in North America and Europe.

In "The 2007 Global Outsourcing 100" EPAM was rated the top Central/Eastern European and Russian ITO service provider and was the only CEE/Russian IT outsourcer included in the Leaders category. EPAM is also the sole CEE/Russian IT outsourcing company listed on "The 2007 Top 50 Best Managed Outsourcing Vendors".

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, BEA Systems, Microsoft, and Oracle/Hyperion.
www.epam.com

The Russians are coming! Why IT buyers are selecting Russian suppliers like EPAM

Mon Oct 01 16:50:00 FEST 2007

Five years ago, India was synonymous with IT offshoring. Today, that is not the case. IT buyers can find IT developers and engineers in every corner of the world.

EPAM's multiple development centers rated at CMMI Level 4: EPAM Russia Business Application Development Center now joined in

Wed Sep 05 13:23:00 FEST 2007

Lawrenceville, NJ — September 5, 2007 — EPAM Systems, Inc., the leading global software engineering outsourcing provider with offshore software development centers in Central/Eastern Europe and Russia, announced today that EPAM Russia Business Application Development Center has been independently assessed by Software Engineering Institute-certified experts and rated at the Capability Maturity Model Integration (CMMI) Level 4.

The EPAM development center in Belarus achieved this appraisal in 2003 and was one of the pioneer software development organizations in Eastern Europe with CMMI assessments. The attainment of this high rating by EPAM Russia sets EPAM apart from its regional competitors in the number of certified development locations.

The scope of the assessment included business application development, process improvement and human resource functions. It was performed by a team headed by Jacques Joubert, SEI authorized SCAMPI (Standard CMMI Appraisal Method for Process Improvement) Lead Appraiser. RUSSEE, SEI Partner company, provided consulting services.

Speaking on the occasion, Mr. Joubert noted: "I was very pleased to assess the EPAM organization where I found an ambience of friendship and productive collaboration. I was first impressed by not only the commitment to success but also the matching ability to execute, which is every bit as good as at Western Europe's leading organizations where I am used to lead appraisals. For me EPAM's most impressive achievement is the institutionalization of quantitative management in all aspects of projects enforced through their internal SDLC tools and the large eco-system of exceptional extensions from industry base-line systems. During the appraisal, I was also particularly impressed by the professionalism of EPAM's SCAMPI team members."

About EPAM Systems

New-Jersey based EPAM Systems is independently recognized as a leading global provider of software development outsourcing services. With offshore software development centers in Russia, Hungary, Belarus, and Ukraine, EPAM offers the largest resource pool in Central/Eastern Europe and Russia combined with the strongest onsite management and delivery capabilities in North America and Europe.

In "The 2007 Global Outsourcing 100" EPAM was rated the top Central/Eastern European and Russian ITO service provider and was the only CEE/Russian IT outsourcer included in the Leaders category. EPAM is also the sole CEE/Russian IT outsourcing company listed on "The 2007 Top 50 Best Managed Outsourcing Vendors".

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, BEA Systems, Microsoft, and Hyperion.
www.epam.com

EPAM: success offshore and nearshore

Fri Aug 24 17:26:00 FEST 2007

EPAM Systems (VARBusiness 500 # 281) embraces the global economy, maintaining a global headquarters in New Jersey, a European headquarters in Budapest, Hungary and a Russian headquarters in Moscow. This solutions provider delivers software product development, testing, maintenance and support services, as well as complex industry solutions, their customization and deployment to clients in more than 30 countries worldwide. EPAM's focus on solutions that provide cost-savings and high-end functionality drove this company's growth by 75 percent last year, resulting in revenue of more than $70 million. In an interview with CMP Channel, Arkadiy Dobkin, EPAM CEO and president, recently discussed how it conducts offshore and nearshore activity, as well as challenges it expects to face in the next six months.

EPAM wins International Stevie® Award as the Best MIS & IT Company

Wed Aug 01 13:38:00 FEST 2007

Lawrenceville, NJ — August 1, 2007 — EPAM Systems, Inc., the leading global offshore software engineering outsourcing provider with development centers in Central/Eastern Europe and Russia, has won an International Stevie Award as the "Best MIS & IT Organization" in The 2007 International Business Awards program.

The International Business Awards are the only global, all-encompassing business awards program honoring great performances in business. Companies from all over the world were eligible to compete in any of more than 40 categories. Recipients of 98 International Stevie Award trophies were selected from more than 1,000 nominations received from companies and individuals from more than 30 countries including Australia, Belgium, Canada, China, Cyprus, the Czech Republic, Denmark, France, Germany, India, Indonesia, Italy, Luxembourg, Singapore, South Africa, South Korea, Spain, Switzerland, Syria, Thailand, The Netherlands, Turkey, the U.S.A., and the United Kingdom.

Already in its first year of participation EPAM was honored with this prestigious Award having received the highest average scores from the Awards' Board of Distinguished Judges & Advisors who acknowledged EPAM’s unmatched technical advancement and MIS & IT best practices.

Balazs Fejes, EPAM CTO, commented upon the achievement: "We are very proud that our company's success and leadership were awarded with a Stevie, the trophy of The International Business Awards. Our focus on delivering high-end software on a global scale obliges our internal MIS & IT to be truly effective, reliable and innovative. Our Global IT Infrastructure’s security, efficiency and compliance with the world's top standards are what made EPAM the winner of this Award. Our huge investment into development of Best-in-Class internal systems is repaid a hundredfold winning new and expanding relationships with the existing clients and letting EPAM successfully deliver the most complex software engineering projects."

Complete lists of International Stevie winners and other details are available at www.stevieawards.com/iba.

About The Stevie Awards

Hailed as "the business world's own Oscars" by the New York Post (April 27, 2005), Stevie Awards are conferred in four programs: The American Business Awards, The International Business Awards, The Stevie Awards for Women in Business, and the Selling Power Sales Excellence Awards. Honoring companies of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about The Stevie Awards at www.stevieawards.com.

About EPAM Systems

New-Jersey based EPAM Systems is independently recognized as a leading global provider of software development outsourcing services. With offshore software development centers in Russia, Hungary, Belarus, and Ukraine, EPAM offers the largest resource pool in Central/Eastern Europe and Russia combined with the strongest onsite management and delivery capabilities in North America and Europe.

In "The 2007 Global Outsourcing 100" EPAM was rated the top Central/Eastern European and Russian ITO service provider and was the only CEE/Russian IT outsourcer included in the Leaders category. EPAM is also the sole CEE/Russian IT outsourcing company listed on "The 2007 Top 50 Best Managed Outsourcing Vendors".

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, BEA Systems, Microsoft, and Hyperion.
www.epam.com

Eastern Europe outsourcing increases, says report

Tue Jul 31 17:33:00 FEST 2007

Multi-sourcing of IT services is on the increase with Eastern Europe emerging as one of the most popular destinations for outsourcing managers, according to a report by Aberdeen Group.

Add Russia to IT favorites

Wed Jun 27 17:44:00 FEST 2007

Eastern Europe is making its presence known as an outsourcing destination for IT and BPO services. Offshoring activity in Eastern Europe could triple by the end of 2008, McKinsey predicts, with Russia already the engine of the industry in the region

Non-ISVs get serious about their software

Wed Jun 27 17:38:00 FEST 2007

Software development is becoming increasingly critical to even those companies that are not in the business of building and selling software

EPAM reconfirms its leadership position among outsourcing vendors in Central and Eastern Europe by being the sole regional provider included into "2007 Top 50 Best Managed Global Outsourcing Vendors" by Brown-Wilson Group

Tue Jun 26 14:03:00 FEST 2007

Lawrenceville, NJ — June 26, 2007 — EPAM Systems, Inc., the leading global offshore software engineering outsourcing provider with development centers in Central and Eastern Europe, for the second year running has made the list of the annual "2007 Top 50 Best Managed Global Outsourcing Vendors" compiled by Brown-Wilson Group, a not-for-profit outsourcing management consulting firm, author of "The Black Book of Outsourcing". The current year rankings identify the top 50 vendors as assessed by the clients via scoring and incorporate the results of The Black Book's electronic survey conducted with the purpose to draw out the outsourcing service purchasers' experience with regard to service providers globally. EPAM has been selected to the list from the pool of 1480 qualified global outsourcing vendors.

EPAM's clients responded that the company is their top-choice provider for the second year running. With majority of its development workforce located across Central and Eastern Europe (including Russia, Belarus, Hungary, and Ukraine), EPAM is the only regional outsourcing service provider who has retained a consecutive 2007 inclusion into the 50 Best Managed rating. Having demonstrated consistent strength in four survey areas such as human capital performance, C-Level commitment, corporate direction, and leadership impact, the company has been specifically commended for responsiveness to the client needs, which "sets EPAM apart as the top-ranking Russian outsourcing company". EPAM has also been noted as a "leading choice with IT offshore development buyers" with "strong consultative approach in solving engagement issues".

Besides naming the 50 best managed outsourcing vendors, the study, recognized as the only industry standard for unbiased customer satisfaction in the global services market, also delves into industry trends and client-vendor relationships and serves as a guide for the companies that are shopping for an outsourcing supplier, as well as for the suppliers helping them identify weaknesses and areas for growth. Brown-Wilson Group, in coordination with its research effort, ranked outsourcing vendors according to responses by nearly 17,000 executives and others involved in outsourcing decision-making about their experience and satisfaction with their current suppliers. The survey participation was voluntary and anonymous.

A closer look at leading outsourcing vendors as identified by the "The Black Book of Outsourcing" study - including the top-ranked outsourcing advisors and the most desirable locations for outsourcing — has been published in the Dow Jones flagship publication, The Wall Street Journal Online.

"Reconfirming our status of one of the best 50 global outsourcing vendors named to the list together with many undisputable market leaders is a great honor for us," stated Arkadiy Dobkin, EPAM CEO and President. "Our clients' recognition reflected in the survey results attests to EPAM's strong capabilities to deliver optimal business value that extends beyond the cost-saving benefits associated with IT outsourcing from Russia and other locations in Central and Eastern Europe".

About Brown-Wilson Group and The Black Book of Outsourcing

The Brown & Wilson Group has established the reputation of being the world's leading offshoring advisory, and the producer of the trusted annual ranking of the Top 50 "Best Managed" Global Outsourcing Vendors.

The Black Book of Outsourcing 2007 survey was distributed electronically to customers, employees, buyers, contractors and users worldwide in early 2007. The respondents answered 26 questions on leadership impact, influence, management performance, client satisfaction, employee satisfaction and organizational excellence amongst IT outsourcing and BPO companies. Additionally, the surveyed expressed their views on innovation, growth, internal management practices and global results.
www.brown-wilson.com
www.theblackbookofoutsourcing.com

About EPAM Systems

Founded in 1993, EPAM Systems is independently recognized as a global service provider that demonstrates leadership, innovation and outstanding performance in software development outsourcing. In 2006 EPAM was selected No.1 of "Top 10 ITO Offshore: Eastern/Central Europe" and No.3 of the global "Top 10 ITO: Specialty Application Development" within the "Top 50 Best Managed Outsourcing Vendors" study. In April 2007, EPAM was rated the top Eastern European ITO service provider within "The 2007 Global Outsourcing 100" and included in the Leaders category as the only regional IT outsourcer.

The company possesses the largest resource pool in Central and Eastern Europe and boasts the strongest onsite presence in the US and EU: its offshore software development centers located across Russia, Hungary, Belarus, and Ukraine work in synergy with the client facing support and delivery operations in US, UK and Germany.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, BEA Systems, Microsoft, and Hyperion.
www.epam.com

The Wall Street Journal Online highlights EPAM among the leading outsourcing vendors identified by The Black Book of Outsourcing study

Fri Jun 15 18:12:00 FEST 2007

The Wall Street Journal Online, the Dow Jones flagship publication, zooms in on the leading outsourcing vendors as identified by the "Black Book of Outsourcing" study, including the top-ranked outsourcing advisors and the most desirable locations for outsourcing. According to the Black Book's survey results, EPAM has been reconfirmed as IT offshore development buyers' leading choice outsourcing vendor in Central and Eastern Europe. The company is the sole regional provider included in the "2007 Top 50 Best Managed Global Outsourcing Vendors" rating.

EPAM singled out as the Top Technology Practitioner of Business Intelligence Software on the VARBusiness 500 list of North America's largest IT solution providers, integrators and services companies

Fri Jun 15 14:20:00 FEST 2007

Lawrenceville, NJ — June 15, 2007 — EPAM Systems, Inc., the leading global offshore software engineering outsourcing provider with development centers in Central and Eastern Europe, has been rated among North America's largest IT solution providers, integrators and services companies by CMP Technology's VARBusiness magazine. Assessed by the gross worldwide revenue to be included in the definitive VARBusiness 500 listing, EPAM has been honored with the "Top Technology Practices Award for Business Intelligence Software" at the 7th Annual VARBusiness 500 Conference and Awards event.

The VARBusiness 500 companies were selected based on 2006 fiscal year revenue generated by the sale of IT goods (software and hardware), software licensing, custom software sales, as well as professional services and managed services with the combined annual revenue making up $344 billion. The financial data of the reviewed companies was vetted and cross-checked against independent sources, including Hoovers and Dun & Bradstreet.

For the first time in its 12-year history the 2007 VARBusiness 500 has welcomed a record number of newcomers — 113. Ranked 281 for its first year on the list, EPAM has also been included in the 50 Fastest-Growing 2007 VARBusiness 500 Companies, demonstrating rapid growth with a 2005 to 2006 revenue increase of 75.0%.

The VARBusiness 500 has been accompanied by a special research conducted among the companies, nearly 55 percent of which provided detailed account of their technology focus, peer and vendor partnerships, growth opportunities, staffing trends, and vertical specializations.

"Current technology and market drivers are resulting in exponential increases in the volume of data that corporations need to leverage to their advantage. It is ever more critical that these organizations have timely and effective means to store, manage, and report on this data, so it can truly be used as "Business Intelligence," noted Arkadiy Dobkin, EPAM CEO and President. "This award is a further testament to EPAM's BI and KM capabilities that deliver tangible results to many clients across North America and Europe. We are proud to be recognized among top services providers in this area."

About VARBusiness

For the past 20 years, VARBusiness' strategic resources have been the gateway to the commercial and public sector (or government) Solution Provider community. The VARBusiness integrated platform of media opportunities provides strategic insight for technology integrators through industry-defining research, in-depth editorial, channel events and innovative Web services, enabling these IT professionals to make educated decisions for their businesses, partnerships and customers. VARBusiness offerings lead vendors and distributors to unprecedented access to the most powerful strategic Solution Providers in the market. VARBusiness has been the recipient of numerous industry awards for both editorial content and design.
www.varbusiness.com

About EPAM Systems

Founded in 1993, EPAM Systems is independently recognized as a global service provider that demonstrates leadership, innovation and outstanding performance in software development outsourcing. In 2006 EPAM was selected No.1 of "Top 10 ITO Offshore: Eastern/Central Europe" and No.3 of the global "Top 10 ITO: Specialty Application Development" within the "Top 50 Best Managed Outsourcing Vendors" study. In April 2007, EPAM was rated the top Eastern European ITO service provider within "The 2007 Global Outsourcing 100" and included in the Leaders category as the only regional IT outsourcer.

The company possesses the largest resource pool in Central and Eastern Europe and boasts the strongest onsite presence in the US and EU: its offshore software development centers located across Russia, Hungary, Belarus, and Ukraine work in synergy with the client facing support and delivery operations in US, UK and Germany.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, BEA Systems, Microsoft, and Hyperion.
www.epam.com

VARBusiness 500 Awards honor top solution providers

Wed Jun 13 10:08:00 FEST 2007

The VARBusiness 500 Awards honor the top among the annual VARBusiness 500 listing. From revenue generation to technological expertise and Executive of the Year, these highly anticipated awards were presented in front of a packed ballroom at the Manhattan Marriott Marquis. The solution-provider award winners experienced tremendous growth and revenue increases in 2006.

A disciplined approach to healthy software

Fri Jun 01 10:12:00 FEST 2007

Experts offer up advice for making life-cycle management work

Watch out for trouble around handoffs. Apply agile ideas. Run your shop like a business. Don't expect to change everything overnight.

That's a high-level summary of the advice offered by analysts, consultants and tool makers when asked how best to manage large application development efforts, where dozens of team members work across disparate locations.

Software development in Eastern Europe

Mon May 07 10:22:00 FEST 2007

Why the next big thing in software may come from Eastern Europe.

Where will the next big thing in software come from? How about Eastern Europe.

Why, the Christian Science Monitor asks, did Google recently open a research lab in Krakow? Answer: So Microsoft and Intel don't grab all the good programmers. The same thinking has brought other big companies to Prague, Budapest, Bratislava, and other Eastern European cities in search of programming talent.

EPAM is rated the top Eastern European ITO service provider within "The 2007 Global Outsourcing 100" and is the only regional company included in the Leaders category

Fri May 04 14:32:00 FEST 2007

Lawrenceville, NJ — May 4, 2007 — EPAM Systems, Inc., the leading global offshore software development services company with development centers in Central and Eastern Europe, has been ranked among the world's best outsourcing service providers on "The 2007 Global Outsourcing 100" annual rating developed by the International Association of Outsourcing Professionals (IAOP). Additionally, EPAM is listed among the top outsourcing service providers serving Software and Technology companies.

"The Global Outsourcing 100" and its sub-lists, featuring both today’s Leaders and tomorrow’s Rising Stars, have been specifically elaborated for companies seeking new and expanded relationships with the best companies in the outsourcing industry. The list includes companies from around the world providing the full spectrum of outsourcing services: information technology and business process outsourcing, as well as facility services, real estate and capital asset management, manufacturing, and logistics. The providers are ranked according to 18 criteria, including revenue, growth, number of employees, the skills and training of their workforce, number of technical and business certifications they secured, the track record of the management team, and quality of customer service.

Recognized for such strengths as size and growth, customer references, as well as management capabilities, EPAM Systems has made a leap from a Rising Star in 2006, ranking 79, to a Leader in 2007, ranking 55, being the only software development outsourcer from Eastern Europe featured in the Leaders list.

"Being acknowledged by the International Association of Outsourcing Professionals as one of the world's top outsourcing providers for two years in a row is a great honor for EPAM," commented on the company's recognition Arkadiy Dobkin, EPAM CEO and President. "We are very proud to be awarded the Leader status this year which attests to our demonstrated capability to provide value to our customers through mature software development outsourcing processes."

About IAOP

The International Association of Outsourcing Professionals (IAOP) is the global, standard-setting organization and advocate for the outsourcing profession. IAOP’s global membership encompasses almost 500 organizations from around the world representing almost every industry segment and functional activity. These members are responsible for more than $60 million in annual outsourcing spending. In total, more than 40,000 individuals working in the field of outsourcing are members or users of the association’s services.
www.outsourcingprofessional.org

About EPAM Systems

Founded in 1993, EPAM Systems is independently recognized as a global service provider that demonstrates leadership, innovation and outstanding performance in software development outsourcing. Both in 2005 and 2006 EPAM was named No.1 of Top 5 IT Outsourcing providers in Central and Eastern Europe on the "Global Services 100" list by Global Services Magazine and neoIT. In 2006 EPAM was also named No.1 of "Top 10 ITO Offshore: Eastern/Central Europe" and No.3 of the global "Top 10 ITO: Specialty Application Development" within the Top 50 Best Managed Outsourcing Vendors study.

The company possesses the largest resource pool in Central and Eastern Europe and the strongest onsite presence in the US and EU: its offshore software development centers located across Russia, Hungary, Belarus, and Ukraine work in synergy with the client facing support and delivery operations in US, UK and Germany.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, BEA Systems, Microsoft, and Hyperion.
www.epam.com

IBM, Capgemini top IAOP's outsourcing service providers list

Tue Apr 24 17:45:00 FEST 2007

Other prominent companies are Indian and Chinese players

IBM ranked number one for the second consecutive year in the Global Outsourcing 100, the annual ranking of outsourcing service providers compiled by the International Association of Outsourcing Professionals (IOAP).

For the second consecutive year Saratov State University team, sponsored by EPAM, becomes a winner of the ACM International Collegiate Programming Contest

Wed Apr 18 14:43:00 FEST 2007

Lawrenceville, NJ — April 18, 2007 — EPAM Systems, the leading offshore software development services company with development centers in Central and Eastern Europe, announces that the Saratov State University team, sponsored by the company, became a Silver prize winner at the recent ACM International Collegiate Programming Contest held in Tokyo, Japan. Having demonstrated the sixth best result in complex, real-world problem-solving the team competed with eighty-eight teams of students from around the globe.

The ACM International Collegiate Programming Contest (ACM-ICPC) traces its roots to a competition held at Texas A&M in 1970. Today it is one of the most prestigious and the oldest programming contests organized to foster creativity, teamwork, and innovation in building new software programs. This event highlights students’ ability to perform under pressure and in real-world conditions.

ACM President Stuart Feldman pointed to the superior problem-solving abilities demonstrated throughout the competition from teams across the globe. "The competition at the ACM ICPC World Finals is incredible. The contestants must attack a wide variety of problems, and the top 15 teams are all performing at a level that exceeds what it took to win the contest only 10 years ago," he said. "This contest is a concrete indicator of talent and future possibility. Students like these are tomorrow's top prospects in the information technology and computing fields."

The Saratov State University has advanced its team to the ACM-ICPC World Finals for the fifth time. Both in 2002 and 2003 the team was awarded silver medals. Additionally, in 2002 the team was also crowned Europe's programming champion. In 2006 the Saratov State University students were the first prize winners of the European programming championship and of the ACM Contest World Finals.

"EPAM has been a long-term supporter of the initiatives targeting the finest and brightest students specializing in computing disciplines. As the sponsor of the Saratov team's participation, we are deeply satisfied with the outstanding results demonstrated by the contestants, thus reconfirming the leadership position of the Russian programming school on the Global Market", said Serguei Laletine, Director, EPAM Saratov Development Center.

"We are confident that our cooperation with EPAM, the CEE region's leading software development outsourcing provider, will further stimulate the intellectual cravings of our students revealing such amazing results", noted Dmitry Usanov, Saratov State University Pro-rector.

Alexey Klimov, the ACM-ICPC finalist, Saratov State University student shared his impression of the contest, "Our participation in the ACM Contest Finals brings us invaluable experience. We are happy to have had the opportunity to prove again to the whole world the top level of the Russian programmers. We would also like to express our genuine thanks to EPAM for their ongoing support and help."

"Russia's strong technical skills, sound methodologies, and high education levels are often cited both by the industry analysts and media. Many western clients name these qualities as the key reasons for selecting Russian software engineering services providers to engage in large-scale, complex R&D and high tech projects. As an outsourcer leveraging the resource talent of Eastern Europe, and Russia in particular, we are proud to witness the Russian IT potential grow year after year as more savvy engineering minds boldly step in," commented Arkadiy Dobkin, EPAM CEO and President, on the team's commendable achievements.

About ACM

The Association for Computing Machinery (ACM) is a major force in advancing the skills of information technology professionals and students. ACM serves its global membership of 80,000 by delivering cutting edge technical information and transferring ideas from theory to practice. ACM hosts the computing industrys leading Portal to Computing Literature. With its journals and magazines, special interest groups, conferences, workshops, electronic forums, Career Resource Centre and Professional Development Centre, ACM is a primary resource to the information technology field.
www.acm.org

About EPAM Systems

Founded in 1993, EPAM Systems is independently recognized as a global service provider that demonstrates leadership, outstanding performance and innovation in software development outsourcing using the latest development practices and methodologies such as Agile. Russia, Hungary, Belarus, and Ukraine locate EPAM’s major offshore software development centers which work in synergy with the client facing support and delivery operations in US, UK and Germany. The company possesses the largest resource pool in Central and Eastern Europe and boasts the strongest onsite presence in the US and EU.

EPAM to demonstrate advantages of geographic and technology multi-sourcing at Gartner Outsourcing Summit

Sat Mar 17 13:48:00 FET 2007

Lawrenceville, NJ — March 17, 2007 — EPAM Systems, the leading offshore software development services company with development centers in Central and Eastern Europe, will participate in the Gartner Outsourcing Summit conducted in Dallas, TX, on March 19 - 21. By sponsoring the event, EPAM aims at bringing the best of its software development experience to those North American corporations who want to maximize outsourcing opportunities, drive innovation, and take better advantage of the global talent pool through geographic and technological multi-sourcing.

As the # 1 Software Outsourcing Services Provider in Central and Eastern Europe and Specialty Application Development leader, reaffirmed for the third time, EPAM will share the best practices in delivering complex and innovative software solutions and products using the distributed team environment model by engaging high-quality software engineers from its multiple outsourcing locations in Russia, Hungary, Belarus, and Ukraine. Besides, EPAM will demonstrate how its rich offshore software development experience of servicing global business and technology leaders in Finance, Software and Technology, Travel, Insurance, Telecommunications, Consumer Goods and Services has helped the company's clients improve their competitiveness and retain technological leadership.

"Such global heavyweights as Reuters, London Stock Exchange, Colgate-Palmolive, BlueCross BlueShield, among others, have been strategically leveraging EPAM's software engineering talent consolidated in Central and Eastern Europe and proven industry expertise gained over the company's 14 years of service record," comments Arkadiy Dobkin, EPAM CEO and President. "The Gartner Outsourcing Summit is one of the most sought after and looked forward to trend-setting events on Information Technology outsourcing. I am confident, EPAM's experience in cutting-edge platform and product development drawn on close partnerships with such technology powerhouses as SAP, Microsoft, BEA, and Hyperion will provide extra value to the event attendees seeking for alternative ways to capitalize on IT outsourcing."

EPAM cordially invites the event participants to visit EPAM at Booth "A" for a hands-on introduction into the geographic and multi-sourcing capabilities rendered by the company.

About EPAM Systems

Founded in 1993, EPAM Systems is independently recognized as a global service provider that demonstrates leadership, innovation and outstanding performance in software development outsourcing. Both in 2005 and 2006 EPAM was named No.1 of Top 5 IT Outsourcing providers in Central and Eastern Europe on the "Global Services 100" list by Global Services Magazine and neoIT. In 2006 EPAM was also named No.1 of "Top 10 ITO Offshore: Eastern/Central Europe" and No.3 of the global "Top 10 ITO: Specialty Application Development" within the Top 50 Best Managed Outsourcing Vendors study.

The company possesses the largest resource pool in Central and Eastern Europe and boasts the strongest onsite presence in the US and EU: its offshore software development centers located across Russia, Hungary, Belarus, and Ukraine work in synergy with the client facing support and delivery operations in US, UK and Germany.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, BEA Systems, Microsoft, and Hyperion.
www.epam.com

EPAM Systems named #1 in multiple categories by outsourcing analysts

Mon Mar 05 13:53:00 FET 2007

Brown-Wilson Group Survey finds EPAM Systems tops in offshore software development. Company wins as the No.1 of "Top 10 ITO Offshore: Eastern/Central Europe" and the No.1 of "Top 10 ITO: Portals & Enterprise Content Management" within the global "Top 50 Best Managed Outsourcing Vendors" survey

What you need for a successful SOA

Wed Feb 21 16:41:00 FET 2007

Service oriented architecture (SOA) is frequently touted as the "silver bullet" for complex IT integration problems. And with business factors like mobility, flexibility, governance, compliance, collaboration and security placing extra expectations on the IT infrastructure, SOA is an approach more and more IT departments are adopting to respond to ever changing requirements.

Interview with Balazs Fejes, CTO of EPAM Systems

Tue Jan 16 16:32:00 FET 2007

Balazs Fejes joined EPAM Systems in 2004, when Fathom Technology merged with EPAM Systems. Prior to co-founding Fathom Technology Mr. Fejes was a chief software architect/line manager with Microsoft Great Plains (Microsoft Business Solutions).

IT offshoring: It's not just for India anymore

Wed Dec 13 12:08:00 FET 2006

India once got 80% of U.S. spending on offshore work; now it gets about 59%

Indian offshore firm Satyam Computer Services Ltd. is opening a 2,000-employee development center in Malaysia, a move that will substantially increase that country's small but growing IT services capability. The announcement, made last week by Satyam, also says something about the growing geographic diversity of the outsourcing industry.

Eastern Europe's software solution

Mon Dec 11 12:16:00 FET 2006

The dissolution of the Soviet bloc left behind a phalanx of expert software engineers, and EPAM is farming them out to top U.S. clients

Belarus, the former Soviet state ruled by strongman Alexander Lukashenko, doesn't usually top lists of favorite places to do business. Flat, marshy, and landlocked, the nation of 10.3 million between Poland and Russia has had trouble attracting foreign investment, the CIA World Factbook says, in part because of the government's habit of arresting business people it deems "disruptive."

Former cold war foe is outsourcing friend

Wed Dec 06 12:32:00 FET 2006

The former Soviet Union, which was a foe of the U.S. and Western Europe during the Cold War, is proving to be an increasingly friendly outsourcing destination as the economy heats up.

'Soviet Heritage' makes Eastern Europe an outsourcing contender

Tue Dec 05 12:38:00 FET 2006

With Arkadiy Dobkin, CEO and president of EPAM Systems [www.epam.com], a provider of software engineering outsourcing services in Central and Eastern Europe. In 2004, along with the CEOs of Wipro Technologies and CGI Group, Dobkin was spotlighted as a key industry influencer in the Foreign Relations category of CRN's "Top 25 Executives" issue.

EPAM to expand its service delivery capabilities in Business Performance Management and Business Intelligence software under the new "Hyperion Affiliate Consulting Partner" status

Mon Nov 27 09:29:00 FET 2006

EPAM to expand its service delivery capabilities in Business Performance Management and Business Intelligence software under the new "Hyperion Affiliate Consulting Partner" status

The Real Deal: Arkadiy Dobkin on E. European technology services

Mon Oct 30 12:42:00 FET 2006

This continues a series of guest columns from practitioners and bloggers I respect. The category - The Real Deal describes them well.

In recent months, I have written about buyers starting to look beyond India for global delivery resources. I have invited executives from firms in E. Europe, S. America, China to write about their value proposition over the next few months.

EPAM among the 3 finalists for NOA's "IT Outsourcing Service Provider of the Year" award category and the sole finalist from Central & Eastern Europe

Mon Oct 30 10:41:00 FET 2006

London, UK - October 30, 2006 - EPAM Systems announced that it became the only software development company from Central and Eastern Europe named a finalist of NOA's "IT Outsourcing Service Provider of the Year" award category. The other two shortlisted contestants included Wipro Technologies and LogicaCMG, with Wipro winning the award.

NOA (National Outsourcing Association) is a UK independent 'not-for-profit' body whose objective is to leverage effective outsourcing by promoting best practices, service and innovation in the application and development of outsourcing. The 2006 NOA Awards for Best Practice in Outsourcing are presented in association with the OUT Group and Outsource Magazine and reward innovation and achievement by suppliers, users and integrated teams within the outsourcing industry. The recognition follows evaluations by an independent panel of judges who selected the winners demonstrating outstanding excellence in outsourcing with measurable outcomes.

Commenting on the NOA awards, Karl Robb, Executive Vice-President of EPAM Systems Inc., and President of EPAM Europe, said: "Our staff feels proud and much honored to be listed as a finalist for the most coveted category of NOA's awards. As Central and Eastern Europe's largest IT outsourcing provider with primarily large, complex, mission-critical software engineering projects within Telcos, Financial institutions, Airlines and larger software vendors, this independent recognition based on objective judgments of professional bodies provides one valuable form of benchmark against which we can verify our own performance. This also demonstrates that a Central and Eastern European NearShore provider competes successfully at the highest level with the larger and better known Indian providers as well as the European and US multi-nationals for both value and results."

National Outsourcing Association (NOA)

The NOA is an independent body whose objective is to ensure effective business management through the promotion of best practice, service and innovation in the application and development of outsourcing. The NOA's role is to lobby UK government, OFCOM and the European Union on matters affecting the collective interests of its members and to deliver information on market developments and lessons learned from business outsourcing.

The NOA communicates the significant benefits and strategic lessons of outsourcing to a wider audience, through conferences, seminars and publications.
www.noa.co.uk

About EPAM Systems

EPAM Systems is a global provider of software engineering outsourcing services. In January 2006, for the second consecutive year, EPAM was named No.1 of Top 5 IT Outsourcing providers in Central and Eastern Europe on the "Global Services 100" list by CMP-CyberMedia's Global Services Magazine and neoIT. Founded in 1993, EPAM maintains North American headquarters in Lawrenceville, NJ, and European headquarters in Budapest, Hungary, as well as support and delivery operations in the UK and Germany. EPAM software development centers are located in Russia, Belarus, Ukraine, and Hungary.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, BEA Systems, Microsoft, and Hyperion.
www.epam.com

For the third consecutive year EPAM improves its position on the Software 500 list of the leading software and services companies

Mon Oct 30 10:18:00 FET 2006

Lawrenceville, NJ — October 30, 2006 — EPAM Systems, the leading Software Engineering Outsourcing provider with delivery centers in Central and Eastern Europe, has made the top 300 of the Software 500, Software Magazine's 24th annual ranking of the world's largest software and services providers.

The Software 500 helps CIOs, senior IT managers and IT staff research and shortlist business partners. The ranking is based on companies' total worldwide software and services revenue for 2005. Although the overall Software 500 results show that growth in the software and services industry was flat from 2004 to 2005, EPAM has demonstrated strong revenue growth and made a leap to the 272nd position.

"The fact that EPAM has been recognized among the world's foremost software product and services vendors for the third consecutive year and advances to a higher position year after year testifies to EPAM's maturity in delivering high quality software engineering outsourcing services," said Arkadiy Dobkin, EPAM CEO and President. "It also confirms our ability to successfully manage the company's rapid growth while consistently exceeding the expectations of our growing customer base."

The Software 500 is searchable by primary business sector on www.softwaremag.com, free to all site registrants.

About Digital Software Magazine, the Software Decision Journal, and Softwaremag.com

Digital Software Magazine, the Software Decision Journal, has been a brand name in the high-tech industry for nearly 30 years. Softwaremag.com, its Web counterpart, is the online catalog to enterprise software and the home of the Software 500 ranking of the world's largest software and services companies, now in its 24th year. Software Magazine and Softwaremag.com are owned and operated by King Content Co.
www.softwaremag.com

About EPAM Systems

EPAM Systems is a global provider of software engineering outsourcing services. In January 2006, for the second consecutive year, EPAM was named No.1 of Top 5 IT Outsourcing providers with development centers in Central and Eastern Europe on the "Global Services 100" list by neoIT and Global Services Magazine. Founded in 1993, EPAM maintains North American headquarters in Lawrenceville, NJ, and European headquarters in Budapest, Hungary, as well as support and delivery operations in the UK and Germany. EPAM software development centers are located in Russia, Hungary, Belarus, and Ukraine.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, BEA Systems, Microsoft and Hyperion.
www.epam.com

Focused, global and growing!

Tue Oct 24 13:47:00 FEST 2006

Specialization and global delivery need not be mutually exclusive. Small and medium specialist companies are increasingly taking an inorganic route to build global delivery. Sometimes, scale is a valuable by-product of that exercise

Outsourcing 2.0

Mon Oct 23 13:57:00 FEST 2006

Outsourcing extends to small and medium-sized companies

"The trend is unmistakable: more middle-market and small companies are in fact turning to outsourcing," said Gene Marks, the author of The Complete Idiot's Guide to Outsourcing and the owner of a Pennsylvania IT consulting firm. Outsourcing, when done right, delivers potent benefits, he said, and they go far beyond the cost savings that are often what first attracts a small business owner to the idea. Improved performance - targeted skills delivered effectively, punctually - are the more enduring goal. "Outsourcing 2.0 is about core competencies," said Gurpreet Dhillon, a professor of information systems at Virginia Commonwealth University. "In Outsourcing 1.0, it was all about saving money. Now, companies want to concentrate on what they do well and outsource what is not central to the business." Experts quickly tick off multiple areas where outsourcing is already gaining traction in the middle market:

NJBIZ awards EPAM for continued growth and solid business performance

Wed Sep 27 12:21:00 FEST 2006

Lawrenceville, NJ — September 27, 2006 — EPAM Systems, the leading Software Engineering Outsourcing provider with delivery centers in Central and Eastern Europe, has announced that based on its last three-year revenue growth, EPAM has been named to 2006 New Jersey's Finest, the awards program honoring the state's 50 fastest growing companies.

New Jersey's Finest is produced by NJBIZ, New Jersey's premiere business news publication, and sponsored by PriceWaterHouse Coopers, Lowenstein Sandler, Attorney at Law, and PNC Bank. This award recognizes and identifies the state's most dynamic companies that have made significant contributions to the strength of its economy.

New Jersey is recognized as supporting one of the largest concentrations of Fortune 500 companies in the world: nearly one hundred companies on the Fortune 500 list have headquarters or conduct business from New Jersey. This creates one of the nation's most commercially thriving areas with a wide industrial diversification, including IT, and provides businesses in New Jersey, such as EPAM with both attractive business opportunities and intense competitive challenges.

David A. Shankweiler, CEO of Journal Publications, parent company of NJBIZ said, "We are truly fortunate to have the opportunity to recognize these outstanding companies. As business and community leaders, they are constantly redefining success within the business arena. On behalf of NJBIZ, we would like to thank and congratulate these 50 outstanding companies."

"We highly value such independent acknowledgement of our business achievements which EPAM has demonstrated alongside numerous and worthy corporations in New Jersey," commented Arkadiy Dobkin, EPAM CEO and President, who was recently featured as one of the state's notable and successful business figures in the NorthJersey.com publication upon his recognition as one of the "Top 25 Consultants" by Consulting Magazine. "As a leading software engineering services provider with the global headquarters in New Jersey, we believe EPAM makes tangible contribution in facilitating the area's profitable development."

About NJBIZ

NJBIZ, New Jersey's only weekly business journal covering the entire state, was founded in 1987. The publication has received numerous statewide and national awards including the 2006 Most Improved Award from the Alliance of Area Business Publications. NJBIZ is owned by Journal Publications Inc., a multi title publishing and events company based in Harrisburg, Pennsylvania. For more information about Journal Publications go to www.journalpub.com.

About EPAM Systems

EPAM Systems is a global provider of software engineering outsourcing services. In January 2006, for the second consecutive year, EPAM was named No.1 of "Top 5 to Watch in Central and Eastern Europe" on the "Global Services 100" list by CMP-Cyber Media's Global Services Magazine and neoIT. Founded in 1993, EPAM maintains North American headquarters in Lawrenceville, NJ, and European headquarters in Budapest, Hungary, as well as support and delivery operations in UK and Germany. EPAM software development centers are located in Hungary, Russia, Belarus, Ukraine, and Armenia.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShield, Schlumberger, and Halliburton and technology leaders such as SAP, Hyperion, BEA Systems, and Microsoft.
www.epam.com

EPAM Systems continues on growth path through merger

Mon Sep 25 14:09:00 FEST 2006

EPAM Systems Inc., a global provider of software engineering outsourcing services with Hungarian links, is growing according to plan through its new strategic merger with Vested Development, Inc. (VDI), a Russia-based, global onsite/offshore software development services firm.

EPAM expands Russian presence

Thu Sep 21 14:18:00 FEST 2006

EPAM, an outsourcing provider with strong ties to Russia, has expanded its presence in that region. EPAM is merging with Vested Development (VDI).

EPAM merger creates Russian offshoring leader

Wed Sep 20 14:55:00 FEST 2006

EPAM Systems is to strengthen its position as Russia's largest software outsourcing services vendor by acquiring domestic rival Vested Development Inc for an undisclosed sum in cash and shares.

EPAM and VDI announce a strategic merger, further solidifying EPAM's leadership of the Central and Eastern Europe software outsourcing industry

Tue Sep 19 13:04:00 FEST 2006

Lawrenceville, NJ - Boston, MA — September 19, 2006 — EPAM Systems, Inc. (www.epam.com), a leading global software services company, independently recognized as the #1 IT outsourcing provider in Central and Eastern Europe for the last two years, and Vested Development, Inc., one of the Top 5 Russian Software Outsourcing vendors, have announced a strategic merger.

The combined company, which will operate under the EPAM Systems name, will employ over 2,200 software professionals across eight countries and exceed a $70 million revenue run rate. By combining the operations of the companies, EPAM becomes stronger in both client facing and delivery capabilities as well as in senior management capacity across North America, Europe, and the former Soviet Union region.

Arkadiy Dobkin, EPAM Chairman, CEO and co-founder, who will continue leading EPAM's operations, said: "This merger enhances EPAM's position as the leader in Central and Eastern Europe and allows EPAM to offer the strongest alternative to the current mainstream outsourcing destinations. For many years it was anticipated that the CEE region would provide a sizeable and scalable global player. This expectation has finally materialized, and we are proud that EPAM leads this wave. Critical for staff retention in an increasingly global employment market this will present even broader and larger professional growth opportunities for our employees."

Anatoly Gaverdovsky, VDI CEO, who will be heading EPAM's operations in Russia, commented on the agreement: "By combining our separate but complimentary areas of specialization and by broadening the geo-diverse talent pools, the merged company will significantly boost scalability for delivering complex software engineering projects, enhance expertise in vertical and horizontal solutions, and grant greater access to the entire regional resource pool for all our clients worldwide. For example, our office in Boston will compliment EPAM's client facing capabilities in New Jersey and Minnesota, and provide additional client and delivery support for one of the most important IT focus regions in the United States today, while our deep and highly experienced client facing operation in Moscow will better position EPAM to apply its expertise accumulated in the US and Europe to serve the increasing number of multinational companies operating in Russia and the CIS as well as large Russian corporations."

"Within the Western European markets, EPAM was already established as the #1 "NearShore" provider, but the addition of VDI's multiple Russian development locations combined with the new but rapidly growing Ukrainian operations of both EPAM and VDI, represents not only the largest resource pool available to European clients, but far and away the most balanced distribution of resources across CEE countries" - added Karl Robb, Executive VP of EPAM Systems and President of EPAM's EU business unit. Mr. Robb continued to add: "This makes EPAM the only company with significant development capacities in Hungary, Russia, Belarus and Ukraine providing all of our clients with unmatched access to the best resources across the entire region and also the most effective risk mitigation against potential localized inflation, resource shortages or geo-political risks, all of which are considered critical issues by the largest clients when evaluating which global vendors to work with".

About EPAM Systems

EPAM Systems is a global provider of software engineering outsourcing services. In January 2006, for the second consecutive year, EPAM was named No.1 of Top 5 IT Outsourcing providers in Central and Eastern Europe on the "Global Services 100" list by CMP-CyberMedia's Global Services Magazine and neoIT. Founded in 1993, EPAM maintains North American headquarters in Lawrenceville, NJ, and European headquarters in Budapest, Hungary, as well as support and delivery operations in the UK and Germany. EPAM software development centers are located in Russia, Belarus, Ukraine and Hungary.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, Hyperion, BEA Systems and Microsoft.
www.epam.com

About Vested Development Inc.

Vested Development, Inc. (VDI) is a global onsite/offshore software development services firm with over eleven years experience in partnering with technology providers like Microsoft, IBM, and Hummingbird, as well as vertical corporations like Nestle, Mars, and many others to accelerate software development using ISO 9001-certified process methodologies.

With extensive vertical industry experience, VDI collaborates with clients to ensure development of quality business solutions. Over 400 highly skilled development resources, located across North America, Russia, and Ukraine, enable VDI to take full advantage of multiple time zones to compress delivery cycles and reduce costs while simultaneously improving quality, flexibility, and time to market.

EPAM Named to Fast-Growth 100 List by CMP Media's CRN

Wed Aug 23 13:12:00 FEST 2006

Lawrenceville, NJ — August 23, 2006 — EPAM Systems, the leading Software Engineering Outsourcing provider with delivery centers in Central and Eastern Europe, announced today that the company has been identified by CMP Media's CRN, a vital source of information for VARs and technology integrators, as a Fast-Growth 100 company for its stellar growth and remarkable business success.

CRN's Fast-Growth 100 identifies the 100 fastest growing solution providers across all specialty areas and business models. The profiles and data developed by CRN's editorial staff provide insights into the models and technology which are proving to be the most lucrative. In the list of the Fast-Growth 100 companies whose activities range from IT consulting services to the design and implementation of networks and infrastructure EPAM Systems ranks 44 with the growth rate of 143.44% (based on 2 years' net sales, ending December 31, 2005).

"As the channel's vital resource, CRN is solely focused on the Solution Provider community. This list, created by our editorial team, recognizes the Solution Providers that have worked tirelessly to support their customers. We salute them on their superior growth," said Dan Dignam, publisher of CRN. "What makes this list so unique, and compelling, is that it represents such a large cross-section of the channel universe. What's more, this is a dynamic list. While 25 companies that were on CRN's 2005 Fast Growth 100 ranking made the grade again this year, sheer ingenuity and investment savvy propelled 75 new solution providers to growth rates worthy of the final cut."

About CRN

CRN provides Solution Providers and Technology Integrators with the crucial information and analysis they need to drive their company's sales. As an advocate for and voice of the Channel, Solution Providers turn to CRN first for immediate information. With more than 20 years of experience, CRN is the most trusted source for 117,000 channel professionals. CRN can be found on the Web at www.crn.com.

About CMP Media

CMP Media is a marketing solutions company serving the technology, healthcare and lifestyles industries. Through its market-leading portfolio of trusted information brands, CMP Media has earned the confidence of more professionals and enthusiasts in these fields than any other media company. As a result, CMP is the premier provider of access, insight and actionable programs designed to connect sellers and buyers in each of these industries in ways that yield superior return on investment. CMP Media is a subsidiary of United Business Media (www.ubm.com), a global provider of news distribution and specialist information services with a market capitalization of more than $3 billion.
www.ubmtechnology.com

About EPAM Systems

EPAM Systems is a global provider of software engineering outsourcing services. In January 2006, for the second consecutive year, EPAM was named No.1 of "Top 5 to Watch in Central and Eastern Europe" on the "Global Services 100" list by CMP-Cyber Media's Global Services Magazine and neoIT. Founded in 1993, EPAM maintains North American headquarters in Lawrenceville, NJ, and European headquarters in Budapest, Hungary, as well as support and delivery operations in UK and Germany. EPAM software development centers are located in Russia, Belarus, Ukraine and Hungary.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShield, Schlumberger, and Halliburton and technology leaders such as SAP, Hyperion, BEA Systems, and Microsoft.
www.epam.com

EPAM makes the world's "Top 50 Best Managed Outsourcing Vendors" achieving the highest rank among Central and Eastern European software engineering outsourcing providers

Mon Aug 07 12:05:00 FEST 2006

Lawrenceville, NJ — August 7, 2006 — EPAM Systems today announced that on the rating of "Top 50 Best Managed Global Outsourcing Vendors 2006" the company received the highest rank among software engineering outsourcing service providers with delivery centers in Central and Eastern Europe, including Russia, Hungary, Ukraine and Belarus. The award is based on a comprehensive survey and analysis of 872 outsourcing vendors in 63 countries conducted by Brown-Wilson Group, a not-for-profit outsourcing management consulting firm.

Douglas Brown, President of Brown-Wilson Group and co-author of "The Black Book of Outsourcing", has noted: "EPAM has demonstrated consistent strength in all the survey areas. The company is headed by a truly international and highly experienced executive team which successfully manages the company's dynamic growth and is dedicated to partner-style relationships with the company's clients."

EPAM CEO Arkadiy Dobkin, who was recently named one of "Top 25 Consultants of the Year" by Consulting Magazine, commented on EPAM's distinction: "It is very rewarding for us to see this recognition as a confirmation of our commitment to Delivering Excellence in Software Engineering. The highest rank among software development outsourcing companies with delivery centers in Central and Eastern Europe solidifies our leadership position in this region and encourages us to continue investing in employee selection and training as well as in high-quality and efficient production processes."

About Brown-Wilson Group and The Black Book of Outsourcing

Released in April 2005 by Wiley Publishers, THE BLACK BOOK OF OUTSOURCING (Douglas Brown, Scott Wilson) continues to be the world's best-selling book on outsourcing, on the major booksellers' lists for over 60 consecutive weeks. The authors are the principals of the not-for-profit outsourcing advisory firm, Brown-Wilson Group of Clearwater, Florida and are adjunct professors of Syracuse University's Outsourcing Management Institute.
TheBlackBookOfOutsourcing.com

About EPAM Systems

EPAM Systems is a global provider of software engineering outsourcing services. In January 2006, for the second consecutive year, EPAM was named No.1 of Top 5 IT Outsourcing providers in Central and Eastern Europe on the "Global Services 100" list by CMP-Cyber Media's Global Services Magazine and neoIT. Founded in 1993, EPAM maintains North American headquarters in Lawrenceville, NJ, and European headquarters in Budapest, Hungary, as well as support and delivery operations in UK and Germany. EPAM software development centers are located in Russia, Belarus, Ukraine and Hungary.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, Hyperion, BEA Systems and Microsoft.
www.epam.com

Gold Chips

Mon Jul 03 15:07:00 FEST 2006

Consolidation in the region's it sector resembles a high-stakes Game of musical chairs. Recent consolidation activity in the sector provides a glimpse of a rapidly changing landscape

In the fast moving world of central Europe's high-tech sector, trying to fix the fifty fastest growing companies onto a list might seem like an impossible task. Just as in photographing an object moving at high speeds, what you see when you click the shutter will be completely different when you lift up your head for a second look.

Fever dreams

Mon Jul 03 15:00:00 FEST 2006

FNE checks the temperature of the region's increasingly popular IT sector and finds out if it's as hot as it once was

With CEE being tagged the latest high-tech hotspot, a number of questions arise that might be worth asking: Just what are the qualifications for hotspot status? Where is the heat coming from? And how can the temperature be measured, if at all?

Russia navigates a bumpy road to outsourcing future

Mon Jun 19 15:12:00 FEST 2006

Stereotypes may be odious, but sometimes they are accurate.

During my recent visit to Moscow to interview executives at Russian software outsourcing companies and to participate in the Russoft Association's Russian Outsourcing & Software Summit, one theme emerged time and again: Russian software developers are talented, hardworking and opinionated. In contrast, Indian software developers are talented, hardworking and not so opinionated.

How to Run a J2EE Application in an SAP NetWeaver Environment

Wed Jun 14 15:17:00 FEST 2006

SAP provides a J2EE-compliant Java application server, the J2EE engine. Porting an application to SAP NetWeaver helps shorten the development time for the new application, decrease maintenance costs, and integrate more efficiently with the existing SAP landscape.

The Russian revelation

Mon Jun 12 15:26:00 FEST 2006

When Daniel Marovitz sought an offshore partner, he scanned the globe. "We talked about Canada, Ireland and low-cost locations in the United Kingdom. But it really came down to India and Russia," said Marovitz, chief technology officer for global banking at Deutsche Bank's investment banking unit, in London.

Going global

Sun Jun 04 15:31:00 FEST 2006

The rapid rise of the global economy is reshaping the way New Jersey companies do business, creating new opportunities and challenges. This weekly column explores the growing ties between Garden State businesses and the rest of the world.

Russian software makers search for growth

Thu Jun 01 15:45:00 FEST 2006

Moscow, Russian Federation — In the global software jungle, it doesn't help to be small. Despite growing at 30 percent per year in many cases, Russian software makers are often unknown and in danger of being trampled in the stampede to send work to India.

Arkadiy Dobkin, EPAM CEO, named one of Top 25 Most Influential Consultants

Mon May 29 12:14:00 FEST 2006

Consulting Magazine calls the top 25 consulting industry professionals "the business world's hot wires of knowledge transfer"

EPAM Systems and Hyperion Solutions sign a multiyear product development agreement

Mon May 15 12:22:00 FEST 2006

Lawrenceville, NJ — May 15, 2006 — EPAM Systems, the #1 software engineering services provider in Eastern Europe, and Hyperion Solutions Corporation (NASDAQ: HYSL), the global leader in Business Performance Management software, have signed a multiyear contract by which EPAM will be providing development, testing, maintenance and consulting services to Hyperion.

More than 11,000 customers rely on Hyperion software to provide visibility into how their businesses are performing and to help them plan and model to improve that performance. Using Hyperion software, customers collect data, organize and analyze it, then communicate it across the enterprise. Hyperion offers the industry's only Business Performance Management solution that integrates financial management applications with a business intelligence platform into a single system.

Since 2002, EPAM has been a proven vendor to Hyperion and to Brio Software prior to its acquisition by Hyperion. This relationship has resulted in the development of numerous software solutions for Hyperion that have met with significant market success. Under the new contract, EPAM shall continue to support Hyperion's specialized solutions development as well as key integration efforts utilizing EPAM's proven software project implementation and consulting experience.

"We are impressed with EPAM's continuous ability to engage highly skilled engineers that support the on-time delivery of enterprise grade solutions," said Matthew Bradley, vice president corporate engineering, Hyperion. "EPAM's unique experience working with leading software vendors, while understanding industry-specific businesses, has provided tangible benefits to Hyperion".

"Building long-term relationships with clients is a strategic objective for EPAM as this supports the company's success and fosters development and growth," said Arkadiy Dobkin, EPAM CEO and President. "To achieve this, we are committed to meeting customer requirements and exceeding their expectations by using proven SDLC processes and staying ahead of the curve on the latest technologies and best practices. This optimizes the development lifecycle and promotes customer-oriented values at all levels of our company. We are very proud to extend our relationship with Hyperion".

About EPAM Systems

EPAM Systems is a global provider of software engineering outsourcing services. In January 2006, for the second consecutive year, EPAM was named No.1 of "Top 5 to Watch in Central and Eastern Europe" on the "Global Services 100" list by CMP-Cyber Media's Global Services Magazine and neoIT. Founded in 1993, EPAM maintains North American headquarters in Lawrenceville, NJ, and European headquarters in Budapest, Hungary, as well as support and delivery operations in UK and Germany. EPAM software development centers are located in Hungary, Russia, Ukraine, and Belarus. Product development, software testing, application reengineering, as well as ASM & infrastructure services are among EPAM’s core competencies.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, Hyperion, BEA Systems and Microsoft.
www.epam.com

EPAM Systems selected to IAOP's "The Global Outsourcing 100"

Wed May 10 12:40:00 FEST 2006

Lawrenceville, NJ — May 10, 2006 — EPAM Systems is proud to announce its selection to the International Association of Outsourcing Professionals' (IAOP) first-ever listing of the world's top 100 outsourcing service providers - "The Global Outsourcing 100". EPAM is listed in the category of "Top Offshoring Providers" - a distinction given to a subset of the Global 100, comprised of the world's 30 foremost providers of offshore services to US based enterprises. The sublisting will appear in the May 29th issue of FORTUNE® magazine.

The companies were selected through an extensive application process covering 18 criteria, including revenue growth, number of employees, the skills and training of their workforce, the number of technical and business certifications they have secured, the track record of the management team, and their quality of customer service.

With its strong presence in both the US and EU, geo-diverse software development and delivery centers in CEE renowned for solid education base in software engineering (Ukraine, Russia, Belarus, and Hungary), exceptional expertise in a number of verticals and dynamic growth EPAM becomes a proud member of "The Top Offshoring Providers" list. "The International Association of Outsourcing Professionals is pleased to recognize EPAM Systems as one of the world's top outsourcing service providers for 2006," - noted Michael F. Corbett, Executive Director, IAOP.

Arkadiy Dobkin, EPAM CEO and President, said: "In January 2006 EPAM was named the No.1 IT outsourcing company of "Top 5 To Watch in Central and Eastern Europe" and included into the global "Top 10 Specialty Application Development Leaders" by CMP-CyberMedia and neoIT. The prestigious award from the International Association of Outsourcing Professionals extends the industry recognition of EPAM's excellence in software engineering. We are very pleased to receive this award and will continue to deliver value and integrity to our clients worldwide".

About IAOP

The International Association of Outsourcing Professionals (IAOP) is the global, standard-setting organization and advocate for the outsourcing profession. IAOP's global membership encompasses almost 200 organizations from around the world representing almost every industry segment and functional activity. In total, more than 37,000 individuals working in the field of outsourcing are members or subscribers.

About EPAM Systems

EPAM Systems is a global provider of software engineering outsourcing services. In January 2006, for the second consecutive year, EPAM was named No.1 of "Top 5 to Watch in Central and Eastern Europe" on the "Global Services 100" list by CMP-CyberMedia's Global Services Magazine and neoIT. Founded in 1993, EPAM maintains North American headquarters in Lawrenceville, NJ and European headquarters in Budapest, Hungary as well as support and delivery operations in UK and Germany. EPAM software development centers are located in Russia, Belarus, Ukraine, and Hungary.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShields, Schlumberger and Halliburton and technology leaders such as SAP, Hyperion, BEA Systems, and Microsoft.

EPAM Systems co-sponsored team wins the prestigious ACM International Collegiate Programming Contest

Fri Apr 28 12:44:00 FEST 2006

Lawrenceville, NJ — April 28, 2006 — EPAM Systems, the #1 software engineering services provider in Eastern and Central Europe, congratulates the programming team from Saratov State University, Russia. This EPAM co-sponsored team was crowned champion of the ACM Contest World Finals that took place in San Antonio, Texas on April 12th 2006.

This year the team competed with 5,606 international teams that represented 1,737 universities from 84 countries. In the ACM World Finals, 83 teams vied to become the world programming Champion.

The Saratov programming team members - Igor Koulkin, Roman Alexeenkov and Ivan Romanov are programming contest veterans with an admirable track record of participating in a host of school and college programming competitions, including the Russian Open Programming Championship sessions in 2005 and 2006.

"EPAM Systems, which maintains a Development Center in Saratov, chose to sponsor the Saratov State University team to help develop the undeniably high potential of the Russian software engineers. We are confident that Russian programmers have all the makings to achieve leadership in the complex software application development segment. The victory of the Saratov programming team in such a prestigious contest is a further testament to the untapped Russian programming savvy", said Serguei Laletine, EPAM Saratov Development Center Director.

This is the second gold medal awarded to a programming team sponsored by EPAM. In 2004, the award was captured by the team of the Belarussian State University of which EPAM has been a partner for several years now. "We are very proud of the Saratov team", remarks Arkadiy Dobkin, EPAM CEO and President. "This win is another example of the extraordinary skills available in Eastern Europe and Russia. It is this talent that has propelled the region and more specifically, EPAM, into one of the leading destinations for software development outsourcing".

About ACM

ACM is widely recognized as the premier organization for computing professionals, delivering resources that advance the computing and IT disciplines, enable professional development, and promote policies and research that benefit society. ACM hosts the computing industry's leading Digital Library and Guide to Computing Literature, and serves its 80,000 global members and the computing profession with journals and magazines, conferences, workshops, electronic forums, and its Career Resource Center and Professional Development Center.
www.acm.org

About EPAM Systems

EPAM Systems is a global provider of software engineering outsourcing services. In January 2006, for the second consecutive year, EPAM was named No.1 of "Top 5 to Watch in Central and Eastern Europe" on the "Global Services 100" list by CMP-CyberMedia's Global Services Magazine and neoIT. Founded in 1993, EPAM maintains North American headquarters in Princeton, NJ and European headquarters in Budapest, Hungary as well as support and delivery operations in UK and Germany. EPAM software development centers are located in Russia, Belarus, Ukraine and Hungary.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShields, Schlumberger and Halliburton and technology leaders such as SAP, Hyperion, BEA Systems and Microsoft.
www.epam.com

Software business growing steadily

Wed Apr 19 15:50:00 FEST 2006

Ukraine's software development industry is underdeveloped but growing fast. However, as domestic and foreign firms position themselves to take advantage of the global trend toward more outsourcing, the industry is feeling the pinch from a limited number of programmers and rising operating costs.

Outsourcing experience report - LogicLibrary and EPAM

Wed Apr 05 15:55:00 FEST 2006

LogicLibrary, provider of Logidex, has had an ongoing relationship with EPAM Systems, the largest Eastern European technology outsourcing vendor, for over three years to develop its Logidex technology. This experience report discusses the approaches and tools used by LogicLibrary and EPAM to ensure effective communication and coordination between LogicLibrary's Rochester, MN-based development team and EPAM's Minsk, Belarus-based development team.

To Russia with love

Wed Mar 29 16:11:00 FEST 2006

Ask Anya Barski, a Russian immigrant who moved to the U.S. a decade ago, if she ever thought she'd be managing a U.S.-owned research center in her native country and she can only laugh. "Definitely not," she says. Yet today, Barski is senior director of Sun Microsystems Inc.'s St. Petersburg Development Center.

Outsourcer sees FOSS as unlikely ally

Wed Mar 29 16:03:00 FEST 2006

At first, outsourcing and free and open source software (FOSS) seem opposing trends. While many of its proponents see FOSS as humanizing the way that business is done by encouraging collaborative efforts, they often see outsourcing as the epitome of traditional business methods, destroying local jobs and exploiting developing areas of the world. However, Balazs Fejes, CTO of EPAM, a rapidly growing outsourcing agency in central and eastern Europe, has a different view. While Fejes acknowledges that the FOSS communities may sometimes provide an alternative to companies like EPAM, he also suggests that the growing popularity of FOSS provides a new opportunity for outsourcers, and helps to make their business more acceptable.

EPAM accelerates nearshore expansion

Wed Mar 01 15:16:00 FET 2006

Russian offshore software developer and IT services firm EPAM has made its biggest step into continental Europe through the opening of nearshore facility in Frankfurt.

Proprietary project management

Mon Feb 27 15:53:00 FET 2006

Hardware, software tools and people are required to implement an IT project. But how do you get these disparate elements to work together seamlessly? A good manager using a proven management process is an essential element. But, tools such as project-management systems provide a control panel that enables project managers — on the customer or the service provider side — to allocate resources, manage workflow, collaborate, check versions, track deadlines and govern projects.

EPAM Systems Opens Office in Germany

Mon Feb 20 15:59:00 FET 2006

EPAM Systems, a provider of software engineering outsourcing services in Central and Eastern Europe, has opened its German office in Frankfurt am Main. The company said it regards the establishment of this new office as an evolutionary step in developing the key European markets.

EPAM Systems expands presence in Germany

Mon Feb 20 11:50:00 FET 2006

Princeton, NJ - Frankfurt am Main, Germany — February 20, 2006— EPAM Systems (www.epam.com), the number one provider of software engineering outsourcing services in Central and Eastern Europe, has announced today the opening of its German office in Frankfurt am Main.

EPAM Systems, which in January 2006 was, for the second consecutive year, recognized as #1 of "Top 5 To Watch in Central and Eastern Europe" by the Global Services Magazine in conjunction with neoIT, regards the establishment of this new office as an evolutionary step developing the key European markets. EPAM has been doing a significant amount of business with German clients since 1997. Last year 17% of its revenue was from German companies. According to Karl Robb, EPAM Executive VP for Global Operations, Germany plays a crucial role in EPAM's growth.

"Although we already have a larger than average number of German speaking project managers and architects in Budapest and Minsk, we see a clear need for a permanent local team to intensify our activities on the German market. We have been extremely fortunate to bring on board two key managers from the Telco and Financial Services sectors with a collective 32 years of practice in software engineering and software product development and hands-on experience in Nearshore and Offshore outsourcing," said Karl Robb.

"Having used software development service providers at different Off- and Nearshore locations in a number of sizeable software projects for many years I am convinced that the acceleration in this area is finally picking up momentum in Germany. Besides the already experienced big corporations more and more mid-size companies are catching up trying to use the advantages of the flexible, high-quality and cost-effective Nearshore software development. The proximity and the cultural compatibility give Nearshore a clear advantage over Offshore, especially in incremental, iterative projects, which are more common these days," said Dr. Stephan Kruppa, General Manager of the newly established German office of EPAM Systems.

"My choice to join EPAM for this exciting opportunity was influenced heavily by the fact that I had an excellent outsourcing experience with over 16,000 person days in a number of development and support contracts to EPAM with very good results. Besides the reliable schedules, high quality, and solid knowledge about methodologies I am specifically impressed by EPAM's flexible software engineers who understand our way of thinking and filled the unavoidable specification gaps intelligently. EPAM Germany will further improve the client communication and eliminate the risk of different expectations with a well-structured requirements analysis and on-site project support," added Dr. Kruppa.

About EPAM Systems

EPAM Systems is a global provider of software engineering outsourcing services. In January 2006, for the second consecutive year, EPAM was named No.1 of "Top 5 to Watch in Central and Eastern Europe" on the "Global Services 100" list by CMP-CyberMedia's Global Services Magazine and neoIT. Founded in 1993, EPAM maintains North American headquarters in Princeton, NJ and European headquarters in Budapest, Hungary as well as support and delivery operations in UK and Germany. EPAM software development centers are located in Russia, Belarus, Ukraine, and Hungary.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShields, Schlumberger and Halliburton and technology leaders such as SAP, Hyperion, BEA Systems, and Microsoft.
www.epam.com

You can find the article about EPAM from the Global Services Magazine if you follow this link: www.globalservicesmedia.com.

Offshore Hot Spots: Russia

Wed Feb 15 16:02:00 FET 2006

World-beating scientific and engineering manpower make it the best place for highly complex software.

"IT is Russia's next natural resource," declares Leonid Reiman, Russia's Minister of Information Technology and Communications (ICT) at the Russian Economic Forum in London last year. With software exports growing at 40 percent to 50 percent annually, he has reasons to be optimistic. By 2010, the government hopes that Russian programmers will contribute to 7 percent of global software exports, and create a $40 billion market.

EPAM reaffirmed as the #1 IT Outsourcing provider in Central and Eastern Europe

Thu Feb 09 11:56:00 FET 2006

For the second consecutive year EPAM recognized as the No.1 software development service provider in Central and Eastern Europe and ranked among global "Top 10 Specialty Application Development Leaders"

EPAM Systems secures equity investment from Siguler Guff

Wed Feb 01 12:09:00 FET 2006

Princeton, NJ — February 1, 2006 — EPAM Systems, Inc., the number one provider of software engineering outsourcing services in Central and Eastern Europe, announced today that Siguler Guff & Company has made a significant investment in EPAM equity. To fully leverage EPAM's position as the largest, most experienced provider in the region, these additional funds will accelerate both organic and acquisition based expansion of EPAM's delivery capacity in Eastern Europe as well as client facing consulting capabilities in US and EU.

EPAM CEO Arkadiy Dobkin said, "We chose Siguler Guff as our partner due to their unparalleled experience investing in the region and long history of venture investing in the US".

"Siguler Guff is delighted to be working with the EPAM management team," said Drew Guff, Managing Director of Siguler Guff, "their organic growth during the last 5 years put them in a regional leadership position at a critical juncture when Central and Eastern Europe has gained visibility, reputation and market share in the global services market. We hope to accelerate EPAM's growth, fully capitalizing on opportunities for regional consolidation".

About Siguler Guff

Siguler Guff is a leading private equity management firm with over $3 billion under management since inception. Siguler Guff's diversified private equity business includes a leading private equity firm investing in Russia and other countries of the former Soviet Union. It has been making investments in the region since 1994, and currently has $350 million in investable capital.
www.sigulerguff.com

For further information, please contact: Thomas McGowan (212)332-5126, thomasm@sigulerguff.com

About EPAM Systems

EPAM Systems is a global provider of software engineering services. In January 2005 EPAM was named No.1 of "Top 5 to Watch in Central and Eastern Europe" and No.3 of "Top 10 Specialty Application Development Leaders" categories on the global Offshore 100 list by neoIT and CMP's Managing Offshore. Founded in 1993, EPAM maintains North American headquarters in Princeton, NJ and European headquarters in Budapest, Hungary as well as support and delivery operations in UK and Germany. EPAM software development centers are located in Russia, Belarus, Ukraine, and Hungary.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShields and Halliburton and technology leaders such as SAP, Hyperion, BEA Systems, and Microsoft.
www.epam.com

Leader, Central and Eastern Europe — EPAM Systems

Mon Jan 23 16:18:00 FET 2006

For the second consecutive year of the Global Services 100 study, EPAM Systems, Inc. has emerged the winner in this category. Surprisingly, the first and second runners-up, IBA Group and LUXOFT, have also retained their earlier positions.

2005 for EPAM: The year of continued growth, business success and industry recognition

Thu Jan 19 12:19:00 FET 2006

Princeton, NJ — January 19, 2006 — EPAM Systems, the leading provider of outsourced software engineering services with development centers in Central and Eastern Europe, has confirmed today that 2005 was an impressively successful year for the company. EPAM's continued growth, business success and industry recognition attained in 2005 have empowered the company to reinforce its position of No.1 software services outsourcing company with development centers in Central and Eastern Europe. The highlights of the year in review include:

Global IT Outsourcing to Increase in 2006

Sun Jan 15 16:05:00 FET 2006

Exclusive TTB Interview with Arkadiy Dobkin President and CEO, EPAM Systems

Arkadiy Dobkin says that he would estimate the global IT outsourcing market volume to be about $20 billion to $25 billion. It was started about 15 years ago by Indian companies, which today control about 70% to 80% of the whole market. EPAM Systems saw what they did and decided to duplicate it using different resources as a labor pool. So instead of doing this in India, EPAM is doing it in Eastern Europe. The market opportunity just wasn't too obvious 10 or 15 years ago, because the whole region wasn't considered a friendly one.

Offshoring and the Internet

Mon Jan 02 16:14:00 FET 2006

A decade ago, offshore software engineering was a novelty looked upon with doubt. This and frequent technical problems, reliability issues, the high cost of traffic and artificial barriers to Internet access, had a considerable impact on the growth of offshore software development. Today, experience and technology, robust project management methodology, a knowledge management infrastructure, VPNs (virtual private networks) and IP telephony combine to make offshore software development a respected software development option for even the largest most sophisticated users.

EPAM launches software development centers in Ukraine

Thu Dec 01 10:06:00 FET 2005

Princeton, NJ — Kyiv, Ukraine — December 1, 2005 — EPAM (www.epam.com), the number one provider of software engineering services in Central and Eastern Europe, announced today the launch of its first of several "engineering centers of excellence" in Ukraine. EPAM was recognized as #1 of "Top 5 To Watch in Central and Eastern Europe" in the global "Offshore 100" listing by neoIT and CMP's Managing Offshore as well as #3 globally in specialty application development and EPAM considers its expansion into Ukraine to be a natural extension of its business model, which has already proven to be successful in Hungary, Russia, and Belarus.

EPAM releases service-based customer Loyalty Solution

Thu Oct 20 11:11:00 FEST 2005

EPAM Systems announces the launch of its web Loyalty Solution. Based on EPAM's expanding e-business platform, the Loyalty System allows companies to quickly and effectively launch new loyalty and affinity programs

EPAM named to Software Magazine's 23rd annual Software 500

Wed Sep 28 11:16:00 FEST 2005

In Software Magazine's listing of the world's largest software companies EPAM is highlighted as one of the fastest growing companies in the $30 million to $100 million revenue range

EPAM named one of New Jersey's fastest growing technology companies in Deloitte & Touche LLP's Technology Fast 50 program

Thu Sep 15 11:22:00 FEST 2005

Prestigious award is conferred on EPAM for the fourth consecutive year

Overall industry thriving

Tue Sep 13 11:46:00 FEST 2005

The 2005 Software 500 results reflect shifts in the U.S. and world economies towards companies offering integration services and software as a service, with the most successful companies concentrating on higher degrees of automation and customer self-service.

Russia's value-driven outsourcing strategy captures imagination

Tue Aug 16 11:55:00 FEST 2005

Russia is gaining recognition with its value-driven outsourcing strategy. Big companies like Dell, Boeing, Microsoft, Deutsche Bank, and IBM are all leveraging Russian expertise and have outsourced some of their operations to Russia.

EPAM to sponsor 5th annual Russian Outsourcing and Software Summit (ROSS 2005) and to deliver a keynote presentation

Tue Jun 14 11:26:00 FEST 2005

Princeton, NJ — June 14, 2005 — EPAM Systems, Russian Software Excellence Award 2004 winner, will be a Silver Sponsor of the Russian Outsourcing & Software Summit 2005, one of the most remarkable events in IT-outsourcing, software development and international collaboration on Information Technologies in Russia, CIS and Eastern Europe. At the opening of the Summit EPAM's CEO Arkadiy Dobkin will deliver a keynote presentation giving an insider view of the most significant trends in outsouricing to Eastern Europe and Russia in particular.

Hosting over 500 visitors including 150 foreign representatives, the event offers advantages of demonstrating successful outsourcing experience, expert guidance from the world's leading analysts and excellent networking opportunities for the leading national and international technology leaders and IT services providers.

"I look forward to ROSS 2005 as it is today the most important venue for IT service providers from the former Soviet Union region and other Eastern European countries, for potential customers, industry analysts and IT press", says Arkadiy Dobkin, EPAM CEO and President. "Over the last several years the Summit (thanks to the dedicated efforts of RUSSOFT and Fort-Ross) proved to be a reality check point which allows potential clients to accurately evaluate the progress the IT service providers have achieved during the year and at the same time for the regional vendors to sense the growing global interest from EU and US corporate worlds in the services coming from Eastern Europe".

EPAM cordially invites all the event attendees to visit its Booth No. 23 to learn about the company's definitive advantages which made neoIT and CMP's Managing Offshore recognize EPAM as No. 1 of "Top 5 to Watch in Central and Eastern Europe" and No. 3 of global "Top 10 Specialty Application Development Leaders" and discuss the best practices of outsourcing to Eastern Europe presented by the company.

About EPAM Systems

EPAM Systems is a leading provider of software development outsourcing services. In January 2005 EPAM was named No.1 of "Top 5 to Watch in Central and Eastern Europe" and No.3 of "Top 10 Specialty Application Development Leaders" on the Offshore 100 by neoIT and CMP's Managing Offshore. Established in 1993 in Princeton, New Jersey, EPAM Systems has technology development centers in Moscow, Russia, Minsk, Belarus, and Budapest, Hungary. EPAM solves complex business and technology problems using a delivery model that combines onsite presence (in US and EU) with Eastern European offshore and nearshore services.

EPAM's customer base includes Reuters, Samsung America, Colgate-Palmolive, Empire and CareFirst BlueCross BlueShield, London Stock Exchange, Halliburton, and British Telecom among others. In the technology world, EPAM provides services to firms such as SAP, Hyperion, BEA Systems, Microsoft, and others.
www.epam.com

EPAM helps Siberia Airlines launch the first online ticketing portal in Russia

Wed Jun 08 11:54:00 FEST 2005

EPAM's solutions power the new www.s7.ru, Siberia Airlines' new online sales ticket office and redesigned corporate site

EPAM's CEO Arkadiy Dobkin invited to speak on multi-sourcing potential in Eastern Europe at Forrester's GigaWorld IT Forum Europe

Mon Jun 06 12:02:00 FEST 2005

Princeton, NJ — June 6, 2005 — EPAM's CEO Arkadiy Dobkin will share his views on the multi-sourcing potential in Eastern Europe during a press roundtable at Forrester's GigaWorld IT Forum Europe, a must-attend event for IT and business executives charged with choosing and implementing technologies that gain and maintain the competitive advantage.

The roundtable, followed by an open forum discussion with the journalists, will address the question "Who owns outsourcing in the enterprise?".

Firms that use outsourcing often expect this approach to provide more standardized IT delivery at low cost. With the rise of globalization, and more recently offshore outsourcing, pressures in this direction have increased substantially, and caused more CEOs and CFOs to begin to look at outsourcing options more seriously. Market commentators believe that this trend will accelerate - especially with the rise of utility computing and greater impact of open standards in ICT. At the same time, globalized innovation is driving new market structures and business processes and companies are finding they progressively need to partner with third parties, and be part of the right networks, in order to keep up with the pace.

Mr. Dobkin will provide an insight into the changes in the Eastern European vendor landscape over the last 7 years, highlighting the players that could offer competitive services today, give an overview of the EE government initiatives that are planned to support the ICT sector. Mr. Dobkin will also make projections for the Eastern European ICT market development over the next several years.

Additionally, the roundtable will look at some key trends in technology influencing the strategic sourcing landscape.

About Forrester

Forrester (NASDAQ, ticker symbol FORR) is an independent technology research company that provides pragmatic and forward-thinking advice about technology's impact on business. Business, marketing, and IT professionals worldwide collaborate with Forrester to align their technology investments with their business goals.

Forrester offers products and services in four major areas: Research, Data, Consulting, and Community. Established in 1983, Forrester is headquartered in Cambridge, Mass.
www.forrester.com

About EPAM Systems

EPAM Systems is Eastern Europe's leading provider of software development outsourcing services. In January 2005 EPAM was named No.1 of "Top 5 to Watch in Central and Eastern Europe" and No.3 of "Top 10 Specialty Application Development Leaders" on the Offshore 100 by CMP's "Managing Offshore". Established in 1993 in Princeton, New Jersey, EPAM Systems has technology development centers in Moscow, Russia, Minsk, Belarus, and Budapest, Hungary. EPAM solves complex business and technology problems using a delivery model that combines onsite presence (in US and EU) with Eastern European offshore and nearshore services.

EPAM's customer base includes Reuters, Samsung America, Colgate-Palmolive, Empire and CareFirst BlueCross BlueShield, London Stock Exchange, Halliburton, and British Telecom among others. In the technology world, EPAM provides services to firms such as SAP, Hyperion, BEA Systems, Microsoft, and others.
www.epam.com

EPAM Systems sponsors two international scientific conferences; Promotion of scientific progress and technological innovation as a strategic imperative for EPAM Systems

Mon May 23 12:05:00 FEST 2005

Princeton, NJ — May 23, 2005 — EPAM (www.epam.com), the leading provider of outsourced software engineering with development centers in Eastern Europe, sponsors two international scientific conferences taking place this month in Minsk, Belarus, the city that hosts one of the company's development centers.

On May 18-20, 2005 the 8th International Conference "Pattern Recognition and Information Processing" (PRIP - 2005) was held in the Belarusian State University of Informatics and Radioelectronics. The event takes place in Belarus every second year under the aegis of the International Association for Pattern Recognition (IAPR). Close to 100 specialists from 20 countries, including Canada, the USA, Japan, France, the UK, China, the Netherlands, Poland, Latvia, Lithuania, attended the conference this year. The participants discussed the latest accomplishments in development of computer technologies and systems for pattern recognition and for processing signals and images as applied to various fields of national economy, such as medicine, space monitoring, electronics and agriculture.

Nanomeeting-2005 is a traditional international conference held every two years since 1995 in Minsk, Belarus. The conference is a joint Belarusian-French initiative aimed at bringing together scientists and engineers from around the world, who work in the fast evolving areas of nanostructure-based electronics, optoelectronics and optics. The meeting will address the latest innovations achieved in research, development and application of nanoscale structures. It will take place on May 24-27, 2005 at the Belarusian State University of Informatics and Radioelectronics in Minsk and will unite scientists and technologists from France, Germany, Switzerland, Japan, Greece, Italy, the Ukraine, Poland, Belarus, and other countries.

EPAM Systems considers it strategically important to foster scientific progress and technological innovation. EPAM realizes how vital a non-stop progress is and how progress in IT moves other sectors of business to a qualitatively new level. By applying cutting-edge technologies, EPAM delivers modern high-end solutions to its corporate clients. The company is always enthusiastic about mastering new technologies and implementing innovative projects. And therefore, it becomes a strategic imperative for EPAM to keep up with science and technology achievements and make its own contributions.

About EPAM Systems

EPAM Systems is a leading provider of software development outsourcing services. In January 2005 EPAM was named No.1 of "Top 5 to Watch in Central and Eastern Europe" and No.3 of "Top 10 Specialty Application Development Leaders" on the Offshore 100 by CMP's "Managing Offshore". Established in 1993 in Princeton, New Jersey, EPAM Systems has technology development centers in Moscow, Russia, Minsk, Belarus, and Budapest, Hungary. EPAM solves complex business and technology problems using a delivery model that combines onsite presence (in US and EU) with Eastern European offshore and nearshore services.

EPAM's customer base includes Reuters, Samsung America, Colgate-Palmolive, Empire and CareFirst BlueCross BlueShield, London Stock Exchange, Halliburton, and British Telecom among others. In the technology world, EPAM provides services to firms such as SAP, Hyperion, BEA Systems, Microsoft, and others.
www.epam.com

EPAM Systems will present "Best Practices" for integrating / porting existing applications through its expertise with SAP NetWeaver™ at SAPPHIRE® 2005

Wed May 11 12:09:00 FEST 2005

Princeton, NJ — May 11, 2005 — EPAM Systems (www.epam.com), recently recognized as #1 of "Top 5 to Watch in Central and Eastern Europe" and #3 of "Top 10 Specialty Application Development Leaders" in the global "Offshore 100", will present a "lessons learned" approach to working with SAP NetWeaver™ at SAPPHIRE® ´05 taking place at the Boston Convention and Exhibition Center, Boston, Massachusetts on May 17-19, 2005.

EPAM has been an SAP development partner since 1997. Beginning in 2002 EPAM became one of the first firms actively engaged in SAP NetWeaver and xApps development, working alongside engineering teams from Walldorf, Germany, Palo Alto, California, and Bangalore, India. Through collaborative work experience gained directly with SAP engineering, EPAM guarantees clients' quality driven successful projects over a wide range of activities from business analysis, application prototyping to development and support.

At SAPPHIRE EPAM will demonstrate its cost effective onshore / offshore / near-shore development & delivery model for the NetWeaver platform inclusive of migration of existing Java and legacy applications to SAP NetWeaver, new Java applications development and application re-factoring for expedited "Time to Market", integration services. In addition, EPAM specializes in support of achieving SAP Certifications, including "Powered by SAP NetWeaver™" & "Certified for SAP NetWeaver™".

EPAM, having logged more than 400,000 hours of development and integration experience with SAP NetWeaver and xApps, is one of the world's largest and most experienced partners. EPAM experience includes an unmatched level of expertise with platforms and tools such as xApps, Web Dynpro/CAF, SAP Netweaver Studio IDE, SAP Enterprise Portal, SAP J2EE engine, SAP Exchange Infrastructure (SAP XI) integration, SAP Workflow, ABAP RFC (JCO), and mySAP Business Intelligence (mySAP BI).

About EPAM Systems

EPAM Systems is a leading provider of software development outsourcing services. In January 2005 EPAM was named No.1 of "Top 5 to Watch in Central and Eastern Europe" and No.3 of "Top 10 Specialty Application Development Leaders" on the Offshore 100 by CMP's "Managing Offshore". Established in 1993 in Princeton, New Jersey, EPAM Systems has technology development centers in Moscow, Russia, Minsk, Belarus, and Budapest, Hungary. EPAM solves complex business and technology problems using a delivery model that combines onsite presence (in US and EU) with Eastern European offshore and nearshore services.

EPAM's customer base includes Reuters, Samsung America, Colgate-Palmolive, Empire and CareFirst BlueCross BlueShield, London Stock Exchange, Halliburton, and British Telecom among others. In the technology world, EPAM provides services to firms such as SAP, Hyperion, BEA Systems, Microsoft, and others.
www.epam.com

EPAM CEO Arkadiy Dobkin to represent Eastern Europe at Gartner Outsourcing Summit 2005 panel discussion

Sat Apr 02 12:12:00 FEST 2005

The discussion to focus on offshore growth accelerators and inhibitors around the world

Successful IT outsourcing: dividing labor for success

Fri Apr 01 12:02:00 FEST 2005

Finding the right division of labor between the home IT operation and the IT outsourcing services firm has been the key to success for those firms that have had profitable engagement experiences.

Empire BCBS upgrades its broker online services to EPAM INSURE™ Healthcare solution

Mon Feb 14 11:17:00 FET 2005

Solution enables brokers to increase sales and reduce workload

The new outsourcing

Fri Feb 04 11:20:00 FET 2005

It's been almost a year since i looked at outsourcing, either on shore or off, and, as you might have guessed, things have changed.

EPAM recognized as No.1 company to watch in Central and Eastern Europe in first annual "Offshore 100" round-up of top global offshore ITO and BPO service providers

Tue Jan 18 11:20:00 FET 2005

By being also named number three of "Top 10 Specialty Application Development Leaders", EPAM becomes one of the elite members of the "Offshore 100" listing

EPAM solutions enhance Aeromexico's travel portal

Mon Dec 13 14:53:00 FET 2004

Princeton, NJ — December 13, 2004 — Aeromexico, the leading air carrier of Latin America, has re-launched its website with the support of EPAM Content Management Software. Tailored to communicate Aeromexico's distinctive personality via its Internet travel portal at www.aeromexico.com, the site offers online travel-booking services integrated with products, promotions and operational information. Combining these services into its multi-language sites will extend the airline's service commitment to the millions of passengers who fly annually to 159 destinations worldwide and enable it to penetrate deeply into burgeoning global markets for online travel.

"The ability to combine best-of-breed booking technologies with promotional and destination content will enable our customers to maximize return on investments in e-Commerce," said Elaina Shekhter, Vice President of Business Solutions for EPAM. "Aeromexico can now more effectively create, manage, distribute and customize marketing content across multiple languages and geographies."

The solution incorporates Datalex booking technology with EPAM's suite of Content and Marketing tools including EPAM CMS, Marketing Engine and Reporting Solutions. In addition to deploying the EPAM content suite, EPAM also worked with Aeromexico on the design of the new site as well as the next generation on-line vacation package catalog. In the key domain of travel software development, Eastern Europe’s EPAM has accumulated a track record of success projects.

"The launch of our new online travel portal is part of an ongoing program of customer service improvements and reconfirms our commitment to making Aeromexico Latin America's leading carrier. The solution delivers significant functional Web booking capabilities to our customers and improves the efficiency of our service," said Augusto Fernandez Kegel Vice President Marketing and e-business, Aeromexico.

About EPAM Systems

EPAM Systems is a leading provider of software development outsourcing services, e-business, enterprise relationship management, and knowledge and content management solutions. Established in 1993 in Princeton, New Jersey, EPAM Systems has technology development centers in Moscow, Russia, Minsk, Belarus, and Budapest, Hungary. EPAM solves complex business and technology problems using a delivery model that combines onsite presence (in US and EU) with Eastern European offshore and nearshore services, and was the first technology firm in Europe to achieve CMMI Level 4 certification. For the third consecutive year EPAM has been ranked among the fastest growing technology companies in North America on the 2004 Deloitte Technology Fast 500 Program.

EPAM's customer base includes Reuters, Samsung America, Colgate-Palmolive, CareFirst BlueCross BlueShield, London Stock Exchange, Encorus, Mandalay Resort Group, Halliburton, British Telecom among others. In the technology world, EPAM provides services to firms such as SAP, Hyperion, BEA Systems, Microsoft, SUN Microsystems, Xelus and others.
www.epam.com

About Aeromexico

Aeromexico is a founding member of SkyTeam, the global alliance formula that in a dynamic and competitive manner groups nine airlines of excellence. On September 13, 2004, SkyTeam welcomed KLM, Northwest and Continental Airlines into the alliance, which along with Aeromexico, Air France, Alitalia, CSA Czech Airlines, Delta Air Lines and Korean Air offer passengers mile accrual and redemption benefits, seamless flight connections and an extensive network with nine hubs to serve a total of 658 destinations, through 14,320 daily flights. The network also includes the convenience of 390 airport lounges for frequent flyers. SkyTeam now serves 341.4 million passengers across the globe, through multiple flight departures and connections.
www.aeromexico.com

This press release contains certain forward-looking statements. Actual results may differ materially from those projected or implied in such forward-looking statements. Such forward-looking information involves risks and uncertainties that could significantly affect expected results.

Power Machines Group to use SAP's advanced solution for complex distributed project management

Tue Nov 30 15:15:00 FET 2004

EPAM Systems took part in the development of an innovative SAP NetWeaver based project portal, and an SAP cProjects based distributed planning and document management system for Power Machines Group

EPAM CEO recognized in CRN's 2004 Top 25 Executives issue

Thu Nov 18 15:23:00 FET 2004

Arkadiy Dobkin Spotlighted as Key Industry Influencer in Foreign Relations Category

Foreign relations

Fri Nov 12 18:24:00 FET 2004

Vivek Paul
Wipro Technologies may not be India’s largest outsourcing company with a "mere" $327 million in revenue in Q2. But with a 42 percent year-over-year growth rate, Paul, CEO and vice chairman, is leading Wipro’s ambition to be a global integrator and competitor to IBM and EDS.

The place to be

Thu Nov 11 18:45:00 FET 2004

In the global market for white-collar work, India rules supreme. But others are lining up

Most Americans or Britons would be hard pressed to name their national call-centre champions or top providers of IT services. In India they are like rock stars, endlessly featured in the media. All of them claim to be hiring by the thousands every month. New business models come and go. Hero bosses such as Raman Roy, chief executive of Wipro Spectramind and "father of Indian business-process outsourcing" (an industry all of six years old), have developed the same preposterous swagger adopted by erstwhile leaders of America's dotcom boom. Is India heading for a fall, too?

EPAM announces the release of Provider Credentialing, an extension of EPAM INSURE™, EPAM's Healthcare Product Suite

Thu Nov 11 15:28:00 FET 2004

Provider credentialing will help Healthcare Insurers with paper reduction, guided work management, reduced costs and improved customer service.

I-many partners with EPAM Systems

Wed Nov 03 15:33:00 FET 2004

Memphis, Tenn. — November 3, 2004 — I-many, the leading provider of advanced business solutions for managing corporate commitments, announced at its annual user conference a partnership with EPAM Systems. EPAM is the leading software services provider with advanced development centers in Eastern Europe - providing services for "Certified for NetWeaver™" and "Powered by NetWeaver™" statuses.

"Because the majority of I-many's current customers utilize SAP, it is critical that our solutions integrate as deeply as possible with SAP," stated Leonard Rainow, Senior Vice President of Products and Chief Technology Officer for I-many. "This commitment will ensure that I-many customers will realize even simpler integration, greater flexibility to run their business and allow them to better align IT resources to recognize the full benefits of I-many solutions working in conjunction with SAP."

To officially certify integration with its products, I-many is addressing two SAP NetWeaver™ programs. "Certified for SAP NetWeaver™" is awarded to products that feature integration with an SAP NetWeaver component and enhance SAP NetWeaver functionality. "Powered by SAP NetWeaver™" status requires a more demanding certification and is for applications that additionally enable convenient deployment of Java or ABAP applications on SAP Web Application Server.

"I-many has chosen EPAM Systems for this project based on EPAM's 300,000 + hours of experience in delivering NetWeaver and related technologies," commented Terry Nicholson, Chief Operating Officer of I-many. "EPAM, an official SAP technology and service partner, has been closely collaborating with SAP for over seven years, with the main focus on NetWeaver™ and xApps™ development over the last two years."

"EPAM recognizes I-many's leadership and vision, particularly in aggressively pursuing the deeper 'Powered by NetWeaver' certification," acknowledged Arkadiy Dobkin, Chief Executive Officer of EPAM. "We look forward to working with I-many's internal architecture and development team to further develop I-many's solutions in this area."

About I-many

I-many (NASDAQ:IMNY) delivers advanced business solutions for managing corporate commitments. I-many solution suites comprehensively manage any type of commitment from contracts and obligations to payments and collections, maximizing revenue and delivering hard cost savings. For more information, visit the company at www.imany.com.

About EPAM Systems

EPAM Systems is a leading provider of software development outsourcing services, e-business, enterprise relationship management, and knowledge and content management solutions. Established in 1993 in Princeton, New Jersey, EPAM Systems has technology development centers in Moscow, Russia, Minsk, Belarus, and Budapest, Hungary. EPAM solves complex business and technology problems using a delivery model that combines onsite presence (in US and EU) with Eastern European offshore and nearshore services, and was the first technology firm in Europe to achieve CMMI Level 4 certification.

EPAM's customer base includes Reuters, Samsung America, Colgate-Palmolive, CareFirst BlueCross BlueShield, London Stock Exchange, Encorus, Mandalay Resort Group, Halliburton, British Telecom among others. In the technology world, EPAM provides services to firms such as SAP, Hyperion, BEA Systems, Microsoft, SUN Microsystems, Xelus, and others.
www.epam.com

SAP, SAP NetWeaver and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries all over the world. All other product and service names mentioned are the trademarks of their respective companies.

This press release may contain forward-looking statements relating to the future performance of I-many, Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties such as the risk that the certification processes described in this press release will not be successful, and actual results may differ materially from expectations.

All trademarks are the property of their respective owners.

Where in the world?

Mon Oct 04 19:50:00 FEST 2004

Clearly, it's time for even smaller solution providers that don't typically look beyond the U.S. border to brush up on their world geography. Not only can solution providers use offshore alliances to extend their own business reach without overextending existing staff, but some of the smaller offshore players from India, Russia, Poland and China are now saying they're eager to forge relationships with U.S. VARs and systems integrators because they can provide that all-important local face to the customer - and an all-important entre into the midmarket, where few offshore companies have made many inroads. "Many of these companies in India are very interested in aligning with a U.S. company because it is very difficult for them to get into accounts and align with accounts," said Atul Vashistha, CEO of neoIT, an offshore consulting firm in San Ramon, Calif.

First Index announces partnership with EPAM to facilitate system integration of First Index contract manufacturing sourcing platforms with major enterprise applications

Fri Oct 01 16:37:00 FEST 2004

Partnership to expedite and simplify complex IT integration for buyers and suppliers of industrial custom-manufactured parts

EPAM named to Software Magazine's 22nd annual Software 500

Wed Sep 22 16:42:00 FEST 2004

Software Magazine Ranks EPAM Systems as one of the World's Largest Software Companies

The Offshore equation

Mon Sep 06 19:56:00 FEST 2004

Earlier this year, managers at the Bekins Co., a moving and relocation-services company in Hillside, Ill., were looking for a better way to match customer demand with available trucks and drivers. Top execs asked VP and chief technology officer Randy Valentino to find a technology solution. The catch: Bekins has upped its return-on-investment requirements significantly for funding new development projects and now insists on payback within two years. "In the past, 36 months would have been supportable," Valentino says.

EPAM named one of New Jersey's fastest growing technology companies for the 3rd consecutive year by Deloitte & Touche

Fri Aug 13 16:59:00 FEST 2004

Princeton, NJ — August 13, 2004 — For the third consecutive year, EPAM Systems has been named to Deloitte & Touche's prestigious Technology Fast 50 Program for New Jersey, a ranking of the 50 fastest growing technology companies by Deloitte & Touche LLP, one of the world's leading professional services firms. Rankings are based on the percentage of growth in fiscal year revenues over five years, from 1999-2003.

EPAM's increase in revenues of 790 percent from 1999 to 2003 resulted in a 13 ranking overall in the Fast 50 for New Jersey, growth that has been maintained into the first half of 2004.

Paul Mlynarski, Tax Partner and Chair of the New Jersey Technology Fast 50, noted: "In today's economy, triple-digit percentage revenue growth (790% for EPAM) is an exceptional accomplishment. We commend EPAM for making the commitment to technology and delivering on the promise of market longevity. We are proud to honor EPAM Systems as a Deloitte Technology Fast 50 winner."

"Being selected in the 13th position in a state where there are so many exciting and successful technology companies, in one of the toughest and most competitive markets is something we are really proud of", said the delighted Arkadiy Dobkin, EPAM's CEO. "I have to thank the 1000 dedicated staff from the US, Russia, Belarus and Hungary for their efforts and energy, as well as our clients for allowing us the privilege of exercising that effort and energy."

Along with all U.S. and Canadian based Technology Fast 50 winners EPAM is automatically entered in the Deloitte Technology Fast 500, the firm's ranking of the fastest growing technology companies in North America. To learn more about the Technology Fast 50 or Technology Fast 500 programs, visit
www.fast500.com.

About Deloitte

Deloitte, one of the nation's leading professional services firms, provides audit, tax, financial advisory services and consulting through nearly 30,000 people in more than 80 U.S. cities. Known as an employer of choice for innovative human resources programs, the firm is dedicated to helping its clients and its people excel. "Deloitte" refers to the associated partnerships of Deloitte & Touche USA LLP (Deloitte & Touche LLP and Deloitte Consulting LLP) and subsidiaries. Deloitte is the US member firm of Deloitte Touche Tohmatsu. For more information, please visit Deloitte's web site at www.deloitte.com/us.

About EPAM Systems

EPAM Systems is a leading provider of software development outsourcing services, e-business, enterprise relationship management, and knowledge and content management solutions. Established in 1993 in Princeton, New Jersey, EPAM Systems has technology development centers in Moscow, Russia, Minsk, Belarus, and Budapest, Hungary. EPAM solves complex business and technology problems using a delivery model that combines both onsite and remote services, and was the first technology firm in Europe to achieve CMMI Level 4 certification.

Offshore: more than programming

Fri Aug 13 10:20:00 FEST 2004

Offshore outsourcing has become a major business (and e-business) suise in the past couple of years, as IT job losses in the U.S. have exacerbated the already sensitive topic of farming work out to foreigners.

The art of successful offshore outsourcing

Wed Jul 28 11:05:00 FEST 2004

Even IT executives who have successfully outsourced parts of their companies' services abroad can tell you the road to profitable relations with offshore partners can be painfully bumpy. Just ask Group 1 Software Inc. Vice President of Postal Affairs Tim King, who was forced to pull the plug on two of the four offshore application development pilot projects he initiated in the past 12 months.

Russian code is no secret

Thu Jul 01 10:44:00 FEST 2004

MENTION IT OFFSHORING and most people think of India. Yet while the Asian subcontinent is one of the oldest and largest players in the outsourcing game, its neighbor to the far north is also vying for what is becoming an increasingly lucrative business. In fact, Russia is establishing itself as a premier contractor for healthcare IT services, an executive at a Princeton, NJ-based firm contends.

EPAM receives Russian Software Excellence Award and is named "The Most Attractive Company for Investments" at Russian Outsourcing and Software Summit 2004

Wed Jun 09 10:20:00 FEST 2004

The decade-long commitment to quality and sustained growth translate into recognition, esteemed reputation and future-proof value proposition

Going global

Fri Jun 04 12:11:00 FEST 2004

ROSS 2004: high time to prepare for the largest conference on IT Outsourcing in Russia

Thu May 27 10:23:00 FEST 2004

Sponsoring Russian Outsourcing and Software Summit EPAM strives to support the industry evolution

EPAM Systems to present at SAPPHIRE® 2004 how its development experience with SAP® xApps™ and SAP NetWeaver™ can benefit customers

Tue May 11 10:27:00 FEST 2004

New Orleans - May 11, 2004 - EPAM Systems, Inc., a global provider of software development and outsourcing services, will present to customers at SAPPHIRE® 2004 its development expertise with the SAP® xApps™ portfolio of packaged composite applications and the SAP NetWeaver™ open integration and application platform. EPAM has been involved in a wide range of activities from application prototyping to development and support for over seven years of successful collaboration with SAP. EPAM will highlight for attendees of SAPPHIRE 2004, the SAP international customer conference held here May 11-13, a view of SAP xApps and SAP NetWeaver as the most effective and radical solutions that bridge the gap between best business practices and traditional software applications.

For companies currently using or considering using SAP solutions and partner companies concerned with the challenge of getting value from the "disconnected silos" of multiple business applications, EPAM offers the following:

ACM International Collegiate Programming Contest: the team sponsored by EPAM wins gold medals leaving Massachusetts and Harvard Universities behind

Mon Apr 19 10:46:00 FEST 2004

April 19, 2004 — Princeton, NJ — Minsk, Belarus — Sponsored by EPAM Systems, a team of students from Belarus (a former republic of the Soviet Union) became the third out of several thousand student teams from all over the world and won the gold medals in the World Finals of the 28th ACM International Collegiate Programming Contest held in Prague, Czech Republic, on March 31, 2004. This year 3,150 teams from 75 countries had taken part in regional contests with 73 teams from 31 countries competing in the finals in Prague. The Belarusian team included Viktoria Lebed, Ivan Metelsky, Maxim Osipov - all of them students of the Belarusian State University, EPAM's premier education partner.

Winning the third gold medal of the championship right after the teams from St. Petersburg Institute of Fine Mechanics and Optics and KTH-Royal Institute of Technology (Stockholm, Sweden), the Belarusian collegiate programmers left behind the teams from Massachusetts Institute of Technology (5th place) and Harvard University (9th place). The gold medals of the teams from Belarus and St.Petersburg, the 4th and 8th places of two more Russian teams at the world's most prestigious university competition in computing sciences and engineering only confirm that the Soviet scientific and technical legacy should be taken into consideration both by the internal policy makers and foreign investors and entrepreneurs.

EPAM Systems continues expansion through strategic merger with Fathom Technology

Tue Mar 16 09:53:00 FET 2004

Agreement creates the leading Eastern European software services firm

EPAM Systems announces EPAM xApps consulting and NetWeaver expert practices

Fri Mar 12 09:57:00 FET 2004

Princeton, NJ — March 12, 2004 — EPAM Systems, Inc., a global provider of software development and outsourcing services, announced today the launch of its xApps cross-applications implementation and NetWeaver expert practice.

EPAM xApps consulting division addresses emerging industry demand for enterprise-level applications supporting cross-functional business processes as well as the need for SAP's new NetWeaver platform expertise. EPAM leverages its expertise accumulated during the two years of working alongside SAP engineers from Walldorf, Germany, Palo Alto, California, and Bangalore, India on the creation of new composite applications. In 2002 and 2003 EPAM was involved in the development of the first shipped SAP xApp composite application, SAP xApp Resource and Program Management (SAP xApp RPM) as well as other xApps.

EPAM xApps team consists of experienced developers, architects and business consultants with in-depth knowledge of the SAP software application platform and SAP development environment including SAP NetWeaver platform components such as Enterprise Portal, WebDynPro, XI, MDM, Java tools, and the traditional SAP enterprise applications such as mySAP BI (BW, SEM, portal, KM), mySAP CRM, SAP R/3 (FI, CO, MM, SD, PP, PM, HR).

Powered by SAP NetWeaver integration and application technology platform, SAP xApps packaged composite applications are designed for interoperability with legacy information systems, and other pre-existing enterprise applications. SAP xApps reach across core business processes, support business roles and functions, provide software tools and portal workplaces, incorporate knowledge of best practices including document and process templates, monitor execution against sets of key performance indicators (KPI), and supply useful predefined reports.

For the current and future SAP client and partner companies who are concerned with the challenge of getting value from disconnected silos of multiple business applications, EPAM offers:

Weighing the benefits of outsourcing

Fri Mar 05 10:11:00 FET 2004

Richard Latty's first attempts to work with offshore developers gave him second thoughts about doing it again.

The secrets of outsourcing success

Fri Jan 16 10:29:00 FET 2004

Outsourcing is a volatile subject. after all, it puts jobs and even careers at stake. But we need to remain calm and take a sober look at the business strategy of outsourcing IT. Besides, I promised part three of my look at outsourcing last week.

LogicLibrary and EPAM Systems announce first SAP NetWeaver add-on for software reuse

Mon Dec 15 09:31:00 FET 2003

New SAP NetWeaver addition for Logidex expands LogicLibrary's unmatched integration with popular development environments, which include IBM WebSphere and Microsoft Visual Studio .NET

Technology and support strategy is paying off as the world's leading B2B marketplace for industrial custom-manufactured parts and assemblies goes offshore with EPAM

Mon Dec 08 09:27:00 FET 2003

Princeton, NJ — December 8, 2003 — EPAM Systems, Inc., a leading provider of IT services, today announced that First Index chose EPAM as its offshore outsourcing partner to manage and operate its Information Technology Group with an initial 1-year outsourcing agreement. EPAM was picked after a very competitive process that included global service firms from Russia and India.

Under the terms of the agreement, EPAM will develop and maintain First Index's entire suite of state of the art applications and technologies. New applications that are to be developed will further enhance the information that suppliers and buyers involved in the supply chain will obtain during the RFQ / RFI Process.

"Leveraging the highest quality services of an offshore IT provider is essential to our long term strategy," said Russ White, CEO. "We chose to work with EPAM because of their understanding of our environment, extensive project management experience and their unparalleled technology base, which provides responsiveness, high-quality and fast turnaround."

"EPAM's focus on managing distributed teams and using advanced technology is paying off. This is a key win for our Support Operations Group, which is gathering marketplace momentum," said Arkadiy Dobkin, CEO and President of EPAM. "Our industry leading project management model is becoming the first choice for companies moving into the global market. We are looking forward to a long-term and mutually beneficial relationship with First Index."

About First Index

Since its foundation in 1992, First Index has become the world's leading B2B marketplace for industrial custom-manufactured parts and assemblies. In 2000 alone, more than 7,000 buyers posted over 24,000 RFQ's and RFI's worth an estimated $10bn through findFAST Online, First Index's web-based marketplace.
With offices in the US, UK, Germany, and Shanghai China, First Index helps manufacturing companies source suppliers of custom-made parts locally or internationally. In addition to this unmatched experience and scale, First Index offers the most open, flexible marketplace in the industry and superior 'live' support throughout the sourcing process. Each month hundreds of buyers take advantage of this unique service by posting thousands of RFQ's and RFI's on findFAST online. www.firstindex.com

About EPAM

Established in 1993, EPAM is a leading provider of IT outsourcing services, e-business, enterprise relationship management, content management solutions, as well as custom software development and application testing. Belarus and Russia house EPAM’s major development centers, while its headquarters are in Princeton, New Jersey. EPAM solves complex business and technology problems using an on-site/onshore/offshore delivery model.

EPAM's customer base includes CareFirst BlueCross BlueShield, Reuters, SBLI USA Mutual Life Insurance Company, Colgate-Palmolive, Halliburton, Verizon Communications, Samsung America, Bally of Switzerland, among others. In the technology world, EPAM provides services to firms such as SAP, Hyperion Software, ServiceWare, Logic Library and others. For further information see our website at www.epam.com.

Mature and integrated software engineering: EPAM Systems' Minsk Development Center becomes the first CMMI® Maturity Level 4 organization in Europe

Tue Sep 30 10:13:00 FEST 2003

Princeton, NJ, Minsk, Belarus — September 30, 2003 — The Minsk Development Center of EPAM Systems, Inc. headquartered in Princeton, NJ (www.epam.com), becomes the first software organization in Europe to pass a formal assessment against the requirements of the Capability Maturity Model Integration (CMMI) at Maturity Level 4. CMMI is a new and more demanding model developed by the SEI (Software Engineering Institute, Carnegie Mellon University) for assessing a company's software engineering capability and the maturity of an organization's processes.

The assessment was carried out by a team headed by the SEI-authorized Lead Assessor Kent A. Johnson, TeraQuest Metrics, Inc. according to the Standard CMMI® Assessment Method for Process Improvementsm (SCAMPIsm). The training and consulting had been provided by TeraQuest in partnership with Gartner Group, Inc.

Upon completion of the assessment Mr. Johnson announced: "We were extremely impressed with the maturity of the software engineering process implementation in the company and with the evident client-oriented organization of EPAM. They not only know "what", but also attach great importance to "how" they should do things to meet the client's requirements in the best possible way. EPAM stands out through successfully striving to involve members from all organizational levels into decision-making and by implementing the industry proven best practices throughout the project life cycle."

The CMMI Maturity Level 4 achieved by EPAM Systems focuses on the quantitative management of organizational process performance and project management. To ensure visibility, quantitative and integrated management, EPAM introduced a set of proprietary applications, such as EPAM Project Management Center and EPAM Utilization and Project Staffing Analyzer. These tools provide top-level organizational environment and control over collaborative project development.

Igor Ovsianik, EPAM QA Director and the Software Process Improvement Lead said: "It was strategically important not to rest on yesterday's successes as a guarantee of future return. After we won an ISO 9001:2000 certificate in early 2002 we realized we should go forward and plan for a CMMI assessment. This model was selected as the premier one for software companies and technology organizations in general. The model copes with a major modern challenge: the need for integration which is a prerequisite for success in today's business climate."

Arkadiy Dobkin, EPAM CEO, noted in this respect: "By validating the company's software development capability, this rating positions EPAM among the best software providers worldwide. Only about ten other organizations have CMMI level 4 or 5 today and none of them in Europe. It just confirms the leading position of EPAM Systems as a software services vendor and presents a valuable option for global corporations looking for geographical diversification of its offshore software providers."

About TeraQuest Metrics

TeraQuest is recognized worldwide as a leader in providing training, consulting and appraisal services based on the family of CMMs (CMM for Software, CMMI, and People CMM). For the past 10 years, TeraQuest has focused on helping commercial organizations apply maturity models to realize improved productivity, quality and predictability. In March 2001, the Gartner Group, Inc. of Stamford, CT and TeraQuest Metrics, Inc. of Austin, Texas announced the formation of a strategic alliance to provide IT consulting services based on the family of Capability Maturity Models. Gartner selected TeraQuest for this alliance because of TeraQuest's recognized leadership in implementing CMM-based improvement programs.
www.teraquest.com

About EPAM Systems

Established in 1993, EPAM Systems is a leading provider of software development outsourcing services with headquarters in Princeton, New Jersey and technology development centers in Moscow, Russia and Minsk, Belarus. Product development, software testing, content management solutions and enterprise relationship management constitute EPAM’s major services offering. EPAM solves complex business and technology problems using a transparent on-site/onshore/offshore delivery model.

EPAM's customer base includes CareFirst BlueCross BlueShield, Reuters, SBLI USA Mutual Life Insurance Company, Colgate-Palmolive, Halliburton, Verizon Communications, Samsung America, Bally of Switzerland, among others. In the technology world, EPAM provides services to firms such as SAP, Brio Software, ServiceWare, Logic Library, and others.
www.epam.com

sm Standard CMMI Assessment Method for Process Improvement and SCAMPI are service marks of Carnegie Mellon University.
® CMMI is registered in the U.S. Patent and Trademark Office by Carnegie Mellon University.

Russia and Eastern Europe

Mon Sep 15 17:55:00 FEST 2003

There's a treasure trove of scientific talent - and lots of government bureaucracy.

Taking tech jobs overseas pays off for outsourcers

Mon Sep 08 18:20:00 FEST 2003

Sophistication of the work rises along with volume; decrying losses

Norman Weisfeld has been sold on the idea of using software developers in Russia to write programs for his Manhattan-based company for years.

EPAM announced as winner of New Jersey Technology Fast 50 award

Thu Aug 28 18:22:00 FEST 2003

Breaking down obstacles and systematically defying the odds

Princeton, NJ — August 28, 2003 — EPAM Systems, Inc. is recognized as one of the fastest growing technology companies in the state of New Jersey and announced as a winner of the New Jersey Technology Fast 50 award. The program sponsored by Deloitte & Touche defines the fastest growing companies in a given geographic area with the ranking based on the percentage revenue growth over the 5 years from 1998 to 2002. Having experienced revenue growth of over 500% during this period, EPAM is recognized as a winner of the program for the 2nd year in a row.

Deloitte & Touche, one of the leading professional services firms, has held the program since 1995. Now there are Fast 50 programs in nine countries or international regions, plus 19 separate programs in the United States. Defining the program winners Deloitte & Touche officials say: "They are the companies that rally behind innovation. They break down obstacles and systematically defy the odds."

Arkadiy Dobkin, EPAM CEO, said "Making the Deloitte & Touche New Jersey Technology Fast 50 list for the second year in a row is a significant achievement for EPAM Systems. Especially if we take into account the current economic slowdown and the challenges facing the tech industry: stiff competition, economic uncertainty, and geopolitical instability. It gives us a reason to believe that despite the challenging environment our efforts to deliver high value services and solutions are paying off and are appreciated by our clients and leading analytical organizations".

Speaking about the factors which contributed most to the company growth Arkadiy Dobkin pointed out the right timing in the marketplace and the transparent on-site/onshore/offshore delivery model drawing on which EPAM was cited as a "trendsetter for the industry" by Aberdeen Group in one of its recent reports on offshore software development. "To sustain the high level of growth EPAM will continue to contain general and administrative costs while investing in marketing and sales to boost the top line. Another priority here is developing and bringing new products and services to the market through applying the most advanced technologies and diversifying for new industry verticals. We are also hiring intensely at the moment, so engaging employees into the company's vision along with developing leaders whom we can delegate responsibility will be as important for us to scale further", - added Arkadiy Dobkin, CEO of EPAM Systems.

Winners of the 20 regional Technology Fast 50 programs in the United States and Canada are automatically entered in the Deloitte & Touche Technology Fast 500 program, which ranks North America's top 500 fastest growing technology companies. For more information on the Deloitte & Touche Fast 50 or Fast 500 programs, visit www.fast500.com.

About Deloitte & Touche

Deloitte & Touche, one of the nation's leading professional services firms, provides assurance and advisory, tax, and management consulting services through nearly 30,000 people in more than 80 U.S. cities. The firm is dedicated to helping its clients and its people excel. Known as an employer of choice for innovative human resources programs, Deloitte & Touche has been recognized as one of the "100 Best Companies to Work For in America" by Fortune magazine for six consecutive years. Deloitte & Touche refers to Deloitte & Touche LLP and its related entities. Deloitte & Touche is the U.S. national practice of Deloitte Touche Tohmatsu. Deloitte Touche Tohmatsu is a Swiss Verein, and each of its national practices is a separate and independent legal entity.
www.deloitte.com/us

About EPAM Systems

Established in 1993, EPAM Systems is headquartered in Princeton, New Jersey with technology development centers in Moscow, Russia and Minsk, Belarus. EPAM is a leading provider of software development outsourcing services, e-business, enterprise relationship management, and content management solutions. EPAM solves complex business and technology problems using an on-site/onshore/offshore delivery model.

EPAM's customer base includes CareFirst BlueCross BlueShield, Reuters, SBLI USA Mutual Life Insurance Company, Colgate-Palmolive, Halliburton, Verizon Communications, Samsung America, Bally of Switzerland, among others. In the technology world, EPAM provides services to firms such as SAP, Brio Software, ServiceWare, Logic Library, and others.
www.epam.com

EPAM Systems announces partnership with SAP to support the creation of SAP® xApps™ packaged composite applications™

Tue Jul 29 18:17:00 FEST 2003

EPAM Systems participates in the development of SAP xApps composite applications;
To deliver "Next Practices" applications based on the SAP NetWeaver™ technology platform

From Russia with love

Mon Jul 28 18:29:00 FEST 2003

Russian tech-services firms build up their arsenals to compete with offshore outsourcing businesses in India

Aberdeen Group cites EPAM as a trendsetter in "A Buyer's Guide to the Russian Software Development and Services Export Industry"

Mon Jul 07 18:11:00 FEST 2003

In the Russian IT export industry overview presented by Aberdeen from a buyer's perspective EPAM is referred as a largest vendor in the former Soviet Union region and as a trendsetter for the industry drawing on its transparent on-site/onshore/offshore delivery model

Princeton, NJ — July 7, 2003 — In response to the fact that more and more companies are stepping up their use of Russian IT resources, Aberdeen Group, an IT market analysis leader, issued "A Buyer's Guide to the Russian Software Development and Services Export Industry". To gather data for a buyer's perspective of the Russian software development and services export sector, Aberdeen surveyed leading Russian offshore development centers and service providers as well as the companies they contract or collaborate with.

The report shows that the ITO industry is no longer just about outsourcing large, non-core development projects, or the wholesale transfer of application maintenance and support to low-cost countries, but there emerge distinct diversity in the segment of offshore software development. Russia, for example, has been quietly building a solid and growing client base in the offshore software services industry over the past few years, as more companies seek to reduce costs and augment core skills by using Russian IT resources. Companies are attracted to the country's combination of a large, highly skilled science, math, and engineering talent pool and its comparatively low labor costs.

Along with the analysis of the Russian IT industry and its major expertise areas, the report presents the largest and best established Russian outsourcing service providers which have been selected for the buyer's guide. In this first ever study of the Russian IT industry from the customer's perspective, EPAM is referred as a largest vendor in the former Soviet Union region and as a trendsetter for the industry drawing on its transparent on-site/onshore/offshore delivery model. Stephen Lane, who authored the report also notes: "EPAM's history, business model, and core services are more in line with a classic IT consulting and systems integration business than what characterizes a typical offshore software services company. This makes EPAM something of a trendsetter, given that established offshore companies are trying to move up the industry value chain as mainstream IT services suppliers are adopting offshore models in response to client demands. Concurrently, transparent offshore delivery is very much a part of EPAM's business model."

Arkadiy Dobkin, EPAM CEO, highly appreciated the objectivity and thoroughness of the report and said: "We are pleased to be favorably cited by Aberdeen Group for two years in a row. Last year one of EPAM's projects was selected for the "Best Practices in IT Offshore Services Delivery" which featured only 15 case studies representing leading outsourcing service providers from all over the world and now we are referred as one of the largest on-site/onshore/offshore software solutions and outsourcing services organizations in the former Soviet Union."

Recognizing the progress achieved by EPAM over the last couple of years, Stephen Lane, Aberdeen Research Vice President, IT Services, states in the report: "With a growing base of vertical industry expertise and a business-solutions focus, EPAM is well positioned to compete in a continually evolving and increasingly diverse global IT services market."

The full text of the report is available at www.aberdeen.com

About Aberdeen Group

An IT market research leader since 1988, Aberdeen Group continues to distinguish itself by providing up-to-the-minute global IT market insights in more than 25 IT market segments. Aberdeen research practices focus on emerging market opportunities, market growth rates, important industry trends, and customer buying patterns. The firm also helps clients to identify new market opportunities, enter those markets successfully, and accelerate the adoption of new technologies. Headquartered in Boston, Massachusetts, Aberdeen has research and consulting divisions in Palo Alto, California; Fort Collins, Colorado; and Amsterdam, the Netherlands.
www.aberdeen.com

About EPAM Systems

Established in 1993, EPAM Systems is headquartered in Princeton, New Jersey with technology development centers in Moscow, Russia and Minsk, Belarus. EPAM is a leading provider of software development outsourcing services, e-business, enterprise relationship management, and content management solutions. EPAM solves complex business and technology problems using an on-site/onshore/offshore delivery model.

EPAM's customer base includes CareFirst BlueCross BlueShield, Reuters, SBLI USA Mutual Life Insurance Company, Colgate-Palmolive, Halliburton, Verizon Communications, Samsung America, Bally of Switzerland, among others. In the technology world, EPAM provides services to firms such as SAP, BRIO Software, ServiceWare, Logic Library, and others.
www.epam.com

Soviet technology legacy draws offshore work

Thu Jul 03 18:36:00 FEST 2003

Russia is emerging as an R&D center for software and telecommunications firms

The U.S. IT industry is tapping into the technological prowess of the former Soviet Union, which is emerging as a research and development center for software and telecommunications firms, a new report by Aberdeen Group Inc. has found.

CareFirst expands relationship with Russian outsourcing provider

Wed Jul 02 18:42:00 FEST 2003

Building on an existing outsourcing and co-development relationship, Owings Mills, MD-based CareFirst BlueCross BlueShield recently awarded an additional number of projects to EPAM (Princeton, NJ), an outsourcer that connects teams of Russian developers based in Moscow and Minsk with corporate clients.

Modern E-marketplace for oil products launched in Russia

Wed Jun 25 18:06:00 FEST 2003

EPAM Systems announces the launch of TNK's e-marketplace for wholesale oil products. One of the ten largest vertically integrated oil and gas companies in the world, TNK today went online with the marketplace which offers total support for the oil buying and selling process

TNK launches electronic wholesale oil product trading system

Thu Jun 19 18:47:00 FEST 2003

Moscow — Russia's oil major Tyumen Oil Company (TNK) has announced the launch of the electronic wholesale oil product trading system, the company's Vice President and Head of Information and Telecommunications Alexander Blokh told a press conference Wednesday.

Harvard event showcases Russia as outsourcing sit

Thu May 01 18:53:00 FEST 2003

Lower wages than in the U.S. and an abundance of highly skilled computer programmers make Russia a good fit for companies aiming to bolster research and development or lower development costs, according to representatives from major Russian IT outsourcing firms.

EPAM recognized as poised to become Tier 1 global player by Gartner

Thu May 01 17:55:00 FEST 2003

Princeton, NJ — May 1, 2003 — During the "Offshore Sourcing - What does the future hold?" session at the recent Outsourcing & IT Services Summit held on April 28th and 29th in London, the UK, Gartner, the world's leading source of strategic advice, recognized EPAM as a key player in the global outsourcing services market. Comparing current Tier 1 providers, EPAM was highlighted as one of the firms having unique capabilities permitting it to compete against the current incumbent players.

EPAM was also invited to take a part in the panel presentation "Outsourcing Offshore". The panel presented on key topics and issues such as when an enterprise should go offshore to source projects, the advantages and potential pitfalls, and what countries and suppliers should be considered.

Over four hundred attendees had an opportunity to understand how firms in countries, like Russia, are becoming key players in the software outsourcing space. This message was evidently clear during this panel presentation, in which Arkadiy Dobkin, President and CEO of EPAM, joined representatives from several Tier 1 outsourcing organizations from other regions and such established users of offshore services as GE Global, Lehman Brothers, and Deutsche Bank.

Evaluating the risks associated with outsourcing and the options to mitigate those risks was one of the prevailing takeaway themes of the Summit. Economic, social, political and cultural influences were only a few of the topics discussed that should be considered as part of a risk mitigation plan and strategy.

The agenda of the Summit focused on main topics such as Strategy and Planning, Service Providers and Markets, and Best Practices in Outsourcing. The conference contained an extended theme focused on Business Process Outsourcing. Companies are constantly looking for ways to improve overall performance while reducing overhead and costs.

Mr. Dobkin commented on the obvious success of the conference by highlighting "that the conference assisted him in assessing his own firm's strategy and confirmed EPAM's current direction on extending its service capabilities in several key industry verticals".

About EPAM Systems

Established in 1993, EPAM Systems is headquartered in Princeton, New Jersey with technology development centers in Moscow, Russia and Minsk, Belarus. EPAM is a leading provider of software development outsourcing services, e-business, enterprise relationship management, and content management solutions. EPAM solves complex business and technology problems using an onshore/offshore delivery model.

EPAM's customer base includes CareFirst BlueCross BlueShield, SBLI USA Mutual Life Insurance Company, Colgate-Palmolive, Halliburton, Verizon Communications, Samsung America, Bally of Switzerland, among others. In the technology world, EPAM provides services to firms such as SAP, BRIO Software, ServiceWare, Multex, and others.
www.epam.com

Leveraging a global advantage

Fri Apr 18 18:58:00 FEST 2003

As programming talent proliferates worldwide, dynamic development frameworks are bringing developers together using collaborative technologies and open source

EPAM announces Health & Insurance technology and consulting vertical

Mon Mar 17 16:50:00 FET 2003

Industry focused onshore / offshore model is high quality / low cost

Russian offshore software industry keeps growing

Tue Feb 25 18:05:00 FET 2003

Russia's offshore programming industry, where Russian programmers develop software for foreign firms, will continue to grow in 2003. Analysts reckon the industry will grow 40% to 60% this year to$ 350 million. The overall Russian software market could be worth$ 1 billion this year, the Gartner Group, a U.S. research company, forecasts.

Datalex forms partnership with offshore software firm

Tue Jan 14 18:16:00 FET 2003

News from Travel Technology Update: - Datalex, the travel and transportation technology provider, formed a partnership with EPAM Systems, a software developer based in Minsk, Belarus, and Moscow and offices in Princeton, N.J.

EPAM and Datalex partner to provide content management solutions for the Travel industry

Mon Jan 13 16:43:00 FET 2003

Partnership provides complete Travel solution by combining EPAM's Content Management System and Datalex' Booking Engine

EPAM announces content management support for newly launched LasVegas.com

Mon Dec 23 16:36:00 FET 2002

EPAM technology drives innovation in the travel and tourism industry

Las Vegas takes its show on the Information Highway

Tue Dec 17 14:08:00 FET 2002

There are lots of ways to spend your money in Las Vegas, and they don't all involve losing at blackjack or feeding a one-armed bandit.

EPAM Systems, Inc. among the entrepreneurial growth leaders on this year's Inc 500 ranking of fastest growing private companies

Tue Nov 05 16:29:00 FET 2002

Attributes 1,109% percent five-year growth period to exploding offshore Russian IT market

EPAM strengthens executive team with the addition of Richard Osborne

Fri Nov 01 16:09:00 FET 2002

Former Ernst & Young Partner brings 28 years industry leadership to premier Russian IT services outsourcing firm

EPAM Systems, Inc. ranked number 292 among fastest growing technology companies in North America on the 2002 Deloitte & Touche Technology Fast 500

Tue Oct 15 17:00:00 FEST 2002

Attributes 1,109% Percent Five-Year Growth Period to exploding offshore Russian IT Market

EPAM Systems recognized for industry leadership & rapid growth

Tue Sep 10 16:51:00 FEST 2002

EPAM's West Group implementation selected by Aberdeen Group to represent best practices in offshore software outsourcing

The politics of outsourcing

Mon Sep 02 10:30:00 FEST 2002

Imagine being a business-technology manager charged with developing a network, and you have two bids from outsourcers: one for $1.5million and one for $85,000. Would you take a chance on the low bidder? And if the bargain-basement price came from a relatively new company based in Russia, would you still be interested in the less-expensive option?

Aberdeen Group chooses EPAM to represent Best Practices in Offshore Outsourcing

Sun Sep 01 16:44:00 FEST 2002

Implementation of corporate website for West Group highlighted

EPAM Systems, Inc. named one of New Jersey's fastest growing technology companies in Deloitte & Touche "Fast 50" Program

Thu Aug 15 16:37:00 FEST 2002

Attributes Award to 1,109% Percent Growth Over Five-Year Period

EPAM founder, Arkadiy Dobkin, on the cover of Consulting Magazine

Fri Aug 02 16:07:00 FEST 2002

Arkadiy's vision for EPAM and the development of the Offshore Software Services market are discussed in Consulting Magazine's August cover story.

Biggest export for tech firms: Their workload

Sun Jul 28 10:03:00 FEST 2002

Jersey computer companies find cheaper programmers overseas, especially in Russia

Ten years ago, Arkadiy Dobkin was a recent Russian immigrant, working as a $35,000-a-year computer programmer in Newark.

The hard path to IT power

Mon Jun 17 10:12:00 FEST 2002

With its wealth of computer programmers and solid reputation for scientific study, Russia has the potential to emulate some of India's success as a center of offshore software development. To achieve this, however, a lot will have to change.

EPAM Systems and Exteria to develop Tyumen Oil Company e-Marketplace

Wed May 15 16:32:00 FEST 2002

EPAM and Exteria will develop e-Marketplace for The Tyumen Oil Company (TOC) by the end of the year 2002

Looking abroad to remedy economic realities at home

Fri Apr 26 10:21:00 FEST 2002

Weak economy forces firms to find inexpensive labor overseas

OAKMONT - Jeff Pepper founded his second technology company during the height of the dot-com boom, when software engineers were in high demand and short supply.

EPAM receives ISO 9001 Certification

Sun Mar 31 16:24:00 FEST 2002

Princeton, NJ — March 31, 2002 — EPAM, the provider of cost-effective solutions to Fortune 2000 & Blue Chip companies worldwide, has recently won ISO 9001 certification for its software development center in Minsk, Belarus. The certificate confirms that EPAM's internal quality management system complies with ISO 9001:2000 requirements. Adopted in 1987 by the International Organization for Standardization in Geneva, Switzerland, the ISO quality system was developed in order to establish an internationally recognized standard of quality. It examines all processes of a product development lifecycle including: design, development, and technical support.

To become ISO 9001 certified, EPAM developed and implemented a thorough Quality Assurance System that conforms to the strict requirements of the ISO 9001 standards. EPAM has been fundamentally committed to Total Quality Management (TQM) since the company's inception, ensuring that EPAM's products and services are of consistently high quality.

"The ultimate goal of EPAM's ISO certification project is total customer satisfaction," notes Arkadiy Dobkin, the founder and CEO of EPAM Systems. "We believe that ISO will help EPAM maintain the level of excellence required in today's marketplace". As an ISO 9001 certified company, EPAM has raised the standards of its organizational discipline, maintaining its position as a world-class IT-solutions company.

EPAM started the ISO 9001 certification process in 2001. Certification was awarded by an accredited certification body on February 19, 2002 after a thorough audit of quality management system. In the future the audit will be performed every twelve months from the date of certification to ensure maintenance of standards.

About EPAM Systems

Established in 1993, EPAM is a leading provider of software development outsourcing services, e-business, enterprise relationship management, and content management solutions. EPAM delivers low-cost, high-quality software solutions globally using an onshore/offshore development model. Headquartered in Princeton, NJ, EPAM has development centers in Moscow, Russia and Minsk, Belarus.

EPAM's customer base includes such companies as Colgate-Palmolive, Halliburton, Verizon Communications, Samsung America, CareFirst BlueCross BlueShield, Bally of Switzerland and other. In the technology world EPAM provides services to such firms as SAP, Brio Software, ServiceWare, PTC, and others. More information about the company can be found at www.epam.com.

About ISO

ISO is the International Organization for Standardization. It is made up of some 140 national standards institutes from countries large and small, industrialized and developing, in all regions of the world. ISO develops voluntary technical standards that contribute to making industrial production and supply more efficient, safer and cleaner, and to making trade between countries easier and fairer. ISO standards also serve to safeguard consumers and users in general of products and services - as well as to making their lives simpler.
www.iso.org

IntelliCorp signs Development Services Agreement with EPAM to supplement internal software development resources

Thu Feb 28 14:51:00 FET 2002

Relationship to ensure that IntelliCorp software solutions continue to meet goals of quality, time-to-market and customer need

ServiceWare partners with EPAM Systems to expand product development and support capabilities

Tue Oct 23 15:12:00 FEST 2001

Company Reduces Cost Structure to Meet Market Challenges