EPAM Systems Continues Expansion Through Strategic Merger with Fathom Technology

Press Release:

Agreement creates the leading Eastern European software services firm

Princeton, NJ, Budapest, Hungary and Moscow, Russia, — March 16, 2004  Today EPAM Systems, Inc., a global provider of software services and solutions, announced a merger with Fathom Technology, a European software engineering company specializing in advanced EJB and .NET services. Together, EPAM, with over 600 staff in US, Russia, and Belarus, and Fathom, with 160 staff in Budapest, will form the largest Software Engineering services provider in Central and Eastern Europe. The merged company will operate under the EPAM Systems name.

The new entity has well balanced, multi-industry experience and offers a client facing organization that combines the US and EU solutions and consulting teams with the scalability, size and experienced engineering delivery operations in three centers located in Moscow, Minsk, and Budapest.

EPAM's size, technical excellence, cost-effectiveness and leadership in quality processes now give Central and Eastern Europe a significant competitor to the established Tier 1 offshore suppliers.

"The strong US presence and large number of experienced, high-quality engineers brought by EPAM will result in a higher level of service and greater efficiencies for Fathom's customers," said Karl Robb, CEO and Co-Founder of Fathom Technology. "Our clients have long recognized Fathom as a leader in high-end software engineering services. EPAM's focus on excellence is complimentary to our own, and they add size and scalability, as well as superior processes for managing distributed development teams across multiple geographical locations, that will further benefit our now mutual customers."

"Having experienced continued growth since 1993, this is the next phase of the EPAM's strategy to become a premier global software services provider. The company will commence planning of additional development centers in Eastern Europe and new client facing offices for the US West Coast and the EU," said Arkadiy Dobkin, CEO and President of EPAM. Addressing a key ingredient to success in Human Capital, Dobkin emphasized, "The greater scale, more advanced technology challenges and global locations should also help attract key new staff and offer existing staff enhanced career opportunities."


About EPAM Systems

EPAM Systems 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 a delivery model that combines both onsite and remote 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, Mandalay Resort Group, Halliburton among others. In the technology world, EPAM provides services to firms such as SAP, Hyperion, BEA Systems, Microsoft, SUN Microsystems and others. For further information see our website at www.epam.com.

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