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EPAM Systems Acquires B2BITS to Strengthen its Financial-services Offerings

Global Services – Namita Goel

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.

The reason behind the acquisition of B2BITS is EPAM’s goal to expand its service offering for financial sector, according to the company’s CEO and President, Arkadiy Dobkin. “Now we dispose of B2BITS’ rich domain knowledge and extensive expertise in delivering high-performance solutions for capital market players and EPAM’s deep resource pool of top quality software engineers,” Dobkin adds.

The company has also set up a Capital Markets Competency Center to strengthen its offering for customers in the financial-services sector. Mark Bisker, CEO, B2BITS, will head EPAM’s new Capital Markets Competency Center, through which EPAM will provide customized high-performance architecture as well as development, testing and 24/7 support. The center’s consultants will be located in all major financial centers across the U.S. and Europe, while production and support teams will be tightly linked into EPAM’s distributed development organization in Eastern Europe to combine cost efficiency with domain knowledge and strict SLAs.