Newtown, PA - September 12, 2013 - EPAM Systems, Inc. (NYSE:EPAM), a leading provider of complex software engineering services and solutions, and a leader in Central and Eastern European IT delivery, announced the launch of a joint Big Data Innovation Lab with VisiQuate, a company that delivers dynamic SaaS enterprise performance management and business analytics solutions. The innovation lab was created to experiment with Big Data opportunities, advanced predictive sciences and the detection of complex business outliers, exceptions and anomalies. Initially, the companies are targeting the Healthcare and Energy sectors.
According to Founder & CEO of VisiQuate, Brian Robertson, "We are continuously innovating to bring new business value to our clients. By joining forces with EPAM, who offers deep technical expertise and a proven track record of delivering high performance engineering results, we anticipate being able to rapidly tackle complex data challenges that are likely to bring immense value to our shared clients."
Rich Waller, VisiQuate's, Chief Technology Officer, added "In our Healthcare vertical, we are hoping to leverage our Big Data initiatives to further refine the power of our Enterprise Analytics platform, to achieve advanced outcomes across clinical, financial and operational functional areas, including solving complex industry challenges, such as the prevention of costly patient re-admissions."
Other mutual goals include producing blueprint models designed to enable rapid delivery of an elastic, highly secure, and scalable cloud-based Big Data Ecosystem. To jump-start the effort, VisiQuate will contribute domain level expertise and industry related data sets. EPAM will provide advanced hardware, architecture, and other top-tier engineering resources, including applied mathematicians from Central and Eastern Europe.
Both companies have a long-term vision of establishing more comprehensive University Connection programs with leading Universities in Central and Eastern Europe to be able to meet the rapidly growing demand for solutions and talent across vertical industries related to Big Data. The programs will encourage students in data science, applied mathematics and computer science majors to pursue Big Data, Business Intelligence ("BI"), and Analytics career paths.
Karl Robb, Executive Vice President of EPAM Systems Group, further added: "As a strategic partner to VisiQuate, we are excited about the opportunity to further deepen our experience in the BI and Big Data space. We are highly confident in our combined abilities to bring advanced data insight and value-rich predictive analytics to key industry verticals. Collaboration with accomplished industry domain experts is a big part of our vision for delivering next generation services to EPAM's clients."
Founded in 2009, VisiQuate delivers dynamic SaaS performance management solutions that transform decision-making throughout the enterprise, bridging the gap between Business Analytics and real-world results. Going beyond traditional Business Analytics, VisiQuate's clients also benefit from the successful integration of actionable workflow, guided eLearning solutions, and a rich complement of industry domain experts who work closely with VisiQuate's clients to help them achieve the best performance outcomes. Headquartered in Santa Rosa, CA, VisiQuate currently serves clients in healthcare, financial services, and other industries.
About EPAM Systems
Established in 1993, EPAM Systems, Inc. (NYSE: EPAM), provides complex software engineering solutions through its award-winning Central and Eastern European service delivery platform. Headquartered in the United States, EPAM employs approximately 8,900 IT professionals and serves clients worldwide from its locations in the United States, Canada, UK, Switzerland, Germany, Sweden, Netherlands, Belarus, Hungary, Russia, Ukraine, Kazakhstan, and Poland.
EPAM is ranked #6 on the 2013 Forbes "America's 25 Fastest-Growing Tech Companies" list and is recognized among the leaders in software product development services by Forrester and Zinnov analysts. The company is also included in the top 30 outsourcing service providers in IAOP's "The 2013 Global Outsourcing 100" list.
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.