Welcome to our dedicated page for EPAM SYSTEMS news (Ticker: EPAM), a resource for investors and traders seeking the latest updates and insights on EPAM SYSTEMS stock.
EPAM Systems, Inc. reports news on its global digital and AI transformation services business, including custom software, product and platform engineering, integrated consulting, and enterprise technology delivery. Company updates commonly cover quarterly results, revenue outlook, operating margins, earnings measures, and capital returns through share repurchases.
EPAM news also includes AI-native service initiatives, enterprise partnerships, ServiceNow development capabilities, Microsoft-aligned security services, and recognition in European IT sourcing studies. These developments reflect the company’s focus on engineering-led transformation work for large enterprises and other technology-driven clients.
EPAM Systems, a leader in digital platform engineering, has acquired CORE SE, a professional services provider specializing in IT strategy and technology transformations. This acquisition, announced on July 27, 2021, aims to enhance EPAM's presence in the DACH region, aligning with its strategy to support Western European clients in their technology transformation initiatives. The acquisition is expected to create synergies, leveraging CORE's expertise in critical IT transformations across various industries.
Contentstack, EPAM Systems, and Uniform have successfully developed a personalization proof of concept in under 90 days using MACH technology. This project showcases how businesses can leverage microservices, API-first, and cloud-native SaaS solutions for creating a fully personalized travel customer journey. The initiative aims to simplify the personalization process, reducing risks for marketers by shifting from rules-based solutions. The demonstration will be presented at the Digital Experience Summit on July 29, 2021, highlighting the potential for rapid implementation of personalized experiences.
EPAM Systems has announced a conference call scheduled for August 5, 2021, at 8:00 a.m. ET to discuss its Q2 2021 financial results. A news release with the results will be issued prior to the call. Interested parties can access the call via the Company’s Investor Relations webpage or by phone. A replay will be available from August 5 at 11:00 a.m. ET until August 12 at 11:59 p.m. ET. EPAM has continued to grow since its founding in 1993.
EPAM Systems has announced the acquisition of the Netherlands-based consultancy Just-BI, enhancing its data and analytics capabilities. This move aims to strengthen EPAM's service offerings in the SAP ecosystem and expand its advisory capabilities across Europe and APAC. The acquisition will facilitate better consultation for clients in sectors like Consumer-Packaged Goods, Retail, and Energy. With over 18 years of experience, Just-BI specializes in end-to-end BI services, further aligning with EPAM's focus on digital transformation and data-driven decision-making.
EPAM Systems reported strong first-quarter 2021 results, with revenues reaching $780.8 million, a 19.9% increase year-over-year. GAAP income from operations rose to $107.3 million, a 22.6% increase. Non-GAAP diluted EPS increased by 26.6% to $1.81. Cash flow from operations was $12.8 million, down from $63.3 million in Q1 2020. For 2021, EPAM anticipates revenue growth of at least 29% and GAAP diluted EPS between $7.09 and $7.31. The second quarter revenue forecast is between $853 million and $861 million, indicating a year-over-year growth rate of approximately 35.5%.
EPAM announced the acquisition of White-Hat Ltd., a cybersecurity firm, enhancing its cybersecurity portfolio and expanding EMEA delivery capabilities. This strategic move aligns with increasing demand for cybersecurity as organizations modernize their digital infrastructure. White-Hat's methodologies and incident response expertise will boost EPAM's capabilities in the Zero Trust Architecture. The acquisition seeks to strengthen EPAM's position as a leader in cybersecurity, addressing evolving threats in the digital landscape.
The MACH Alliance, dedicated to advancing open tech ecosystems, has welcomed over 30 members since its launch in June 2020, now spanning North America, Europe, and Asia. Recent research indicates that 81% of IT leaders plan to enhance MACH elements in their architecture over the next year. The Alliance has secured $1M in funding to support its mission and remains a thought leader in technology innovation, hosting initiatives such as the MACHathon and co-hosting webinars with Forrester. Founding members include EPAM Systems.
EPAM has acquired PolSource, a prominent Salesforce consulting partner with over 350 specialists across the Americas and Europe. This acquisition is driven by the escalating demand for Salesforce-driven digital transformation, allowing EPAM to enhance its Salesforce capabilities and expand its global footprint. By combining forces, they aim to create one of the largest Salesforce partners, enhancing EPAM's client portfolio and delivery practices across 14 countries. The move is a strategic response to the increasing reliance on Salesforce for improving business productivity and profitability.
EPAM Systems, Inc. (NYSE: EPAM) will host a conference call on May 6, 2021, at 8:00 a.m. ET to discuss its first quarter 2021 financial results. A news release with these results will be issued prior to the call. Interested parties can access the call via webcast or by phone. The replay will be available from May 6, 2021, at 11:00 a.m. ET until May 13, 2021, at 11:59 p.m. ET. EPAM continues to be recognized as a market leader in technology and consultancy sectors.
EPAM Systems, Inc. (NYSE: EPAM) announced its agreement to acquire PolSource, a Salesforce Platinum Partner with over 350 Salesforce specialists, to enhance its Salesforce capabilities and facilitate market expansion. The acquisition is expected to close in EPAM's fiscal second quarter, subject to regulatory approvals. PolSource is renowned for delivering digital transformation solutions across various industries and holds multiple Salesforce certifications, which will strengthen EPAM's position in the market.