Strengthens Position as Global Provider of Healthcare & Insurance Services
Newtown, PA – March 20, 2014 - 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 it has acquired Netsoft USA, Inc., a strategic technology and design firm based in New York City, specializing in the healthcare and health insurance industries.
Founded in 1999, Netsoft USA has a 15 year history of successfully delivering high-value business and complex IT solutions. The company works with leading health plans in the U.S. on their medical management and claims systems and specializes in working with leaders in pioneering fields such as accountable care organizations (ACO), tele-medicine, healthcare analytics, personalized medicine, Health Information Exchanges (HIE), and online self-service capabilities.
Arkadiy Dobkin, CEO and President of EPAM said, “We are excited about the acquisition of Netsoft USA, which brings to EPAM over fifteen years of experience in the Health Insurance space, one of the most dynamic segments in the US today.” Mr. Dobkin continued, “This acquisition confirms EPAM’s ongoing growth strategy and we will continue to evaluate opportunities that deepen our industry and technology skills to deliver complex mission-critical solutions”.
Arman Ozgun, co-founder and the Managing Partner of Netsoft USA said, “There is a paradigm shift in the healthcare industry; pioneering payer and provider organizations are looking for thought leaders who can manage change and deliver solutions in a very complex environment. Netsoft USA’s deep strategy and technology expertise in healthcare paired with EPAM’s scale and experiences in consumer-centric industries will create exceptional value and unique market opportunities for our clients. There is a natural fit between our companies due to our joint focus on solving complex business and software challenges.“
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 9,300 IT professionals and serves clients worldwide from its locations in the United States, Canada, UK, Switzerland, Germany, Sweden, Netherlands, Singapore, Belarus, Hungary, Russia, Ukraine, Kazakhstan, Poland, Hong Kong and Australia.
EPAM is ranked #2 on the 2013 Forbes list of America's Best Small Companies: 20 Fast-Growing Tech Stars 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 in IAOP's “The 2013 Global Outsourcing 100” list.
For more information, please visit www.epam.com.
About Netsoft USA
Netsoft USA, Inc. is a strategic technology and design firm headquartered in New York City. By combining business insight with user experience design and technology expertise, they solve business challenges for clients in the healthcare and life sciences industries. For more information, please visit www.netsoft-usa.com.
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.