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EPAM Systems, Inc. (NYSE: EPAM) regularly issues news and press releases that highlight its role in digital engineering, cloud and AI-enabled transformation services, and business and experience consulting. The EPAM news stream features updates on AI platforms, cloud partnerships, regional initiatives and corporate developments that shape how the company presents its strategy and capabilities to the market.
Recent announcements emphasize EPAM’s focus on AI-native transformation, including the AI/Run™.Transform Playbook, AI/Run™.Tools such as Agentic QA™, and AI agents published on Google Cloud Marketplace. These releases describe how EPAM uses AI and generative AI to support enterprise-wide transformation, accelerate software development and address industry-specific challenges in sectors such as finance, healthcare, retail and more.
EPAM’s news also covers its partnerships and recognition in the cloud ecosystem, such as being named AWS Global Innovation Partner of the Year and expanding a 360-degree collaboration with Google Cloud. Additional items include regional developments like the EPAM NEORIS brand in Ibero-America, which brings together EPAM’s global engineering and AI expertise with local delivery capabilities in Spanish- and Portuguese-speaking markets.
Investors and observers can find updates on capital allocation and governance in EPAM’s announcements, including share repurchase authorizations, credit agreements and leadership transitions. Together, these news items provide insight into how EPAM positions itself in digital engineering, cloud transformation and AI-native services, and how it communicates its long-term growth strategy and operational focus.
EPAM Systems, Inc. (NYSE: EPAM) has been named a Leader in the IDC MarketScape: Worldwide Data Modernization Services 2024 Vendor Assessment. The report highlights EPAM's comprehensive data modernization services, spanning from strategy to engineering, with a focus on data and AI consulting, data products development, data on cloud, data platform engineering, and AI/ML engineering. Customers highly regard EPAM's ability to deliver across the lifecycle of data modernization services and provide resources with appropriate technical skills and certifications.
Val Tsitlik, SVP Head of Data and Analytics Practice at EPAM, emphasized the company's expertise in data and analytics, AI-integrated tools, business intelligence, and cloud platform development. EPAM's Core Data & Analytics Focus Areas include Data, Analytics & AI Strategy, Data Factory & Data Mesh, Data Governance, Data Migration, Artificial Intelligence & Machine Learning, and Business Intelligence & Self-Service.
EPAM Systems has been named a Top IT Sourcing Vendor in Switzerland for the fourth consecutive year, according to the 2024 Swiss IT Sourcing Study by Whitelane Research. The company achieved exceptional performer status in application services and general satisfaction, with excellent ratings in several categories:
- Account Management Quality: 87%
- Application services: 85%
- Service Delivery Quality: 84%
- General Satisfaction: 83%
- Digital transformation: 80%
The study evaluated over 400 unique IT sourcing relationships based on key performance indicators. EPAM's recognition underscores its commitment to delivering leading-edge digital transformation services, application services, and engineering solutions tailored to clients' evolving needs in the Swiss market.
EPAM Systems, a digital transformation and product engineering company, has been recognized with five Brandon Hall Group Human Capital Management Excellence Awards for its AI-powered learning initiatives. The company won three gold awards for:
1. Best Use of AI for Learning: Integrating generative AI into educational courses for personalized, efficient learning.
2. Best Competencies and Skill Development: The EngX™ Program, which improved engineer skills by 23% and yielded a 500% ROI in one year.
3. Best Learning Program Supporting Change Transformation: A global AI education initiative covering AI fundamentals, applications, and ethics.
EPAM also received a silver award for Best Learning Team and a bronze for Best Learning Experience Platform Implementation. These achievements highlight EPAM's commitment to fostering an education and engineering culture that supports business transformation and client value delivery in the AI era.
EPAM Systems, Inc. (NYSE: EPAM) has announced an agreement to acquire NEORIS, a global advanced technology consultancy. This acquisition will expand EPAM's delivery capabilities in Latin America and Europe and increase client value across key industries. NEORIS, headquartered in Miami, has over 4,700 professionals across major talent hubs in Latin America, Spain, and the U.S.
The acquisition is expected to strengthen EPAM's presence in LATAM and enhance its delivery capabilities across Europe, India, and APAC. It will create a market offering for clients across Latin America and in Spanish- and Portuguese-speaking markets. The deal is subject to customary closing conditions and is expected to close in the fourth quarter of 2024.
EPAM Systems (NYSE: EPAM) reported Q2 2024 results with revenues of $1.147 billion, down 2.0% year-over-year. GAAP income from operations was 10.5% of revenues, while non-GAAP income from operations was 15.2%. GAAP diluted EPS decreased to $1.70, and non-GAAP diluted EPS fell to $2.45. For the full year, EPAM narrowed its revenue forecast to $4.590-$4.625 billion and updated GAAP diluted EPS to $7.18-$7.38 and non-GAAP diluted EPS to $10.20-$10.40. The company announced a new $500 million share repurchase program. EPAM cited a challenging macro-demand environment but highlighted its ability to adapt and optimize operations while strengthening its offerings and client value propositions.
EPAM Systems (NYSE: EPAM) will announce its second quarter 2024 financial results on August 8, 2024. The company will host a conference call at 8:00 a.m. ET on the same day to discuss these results. The financial report will be available prior to the conference call. Interested parties can access the live webcast through the EPAM website, with a replay available post-event for those unable to attend the live session.
EPAM Systems, a digital transformation and product engineering leader, announced the acquisition of Odysseus Data Services. Odysseus specializes in health data analytics, focusing on Real-World Evidence and Real-World Data. This acquisition aims to enhance EPAM's capabilities in the life sciences sector through advanced analytics, AI, and data methods. Gregory Klebanov, CEO of Odysseus, emphasized the synergy between the two companies, highlighting EPAM's expertise in AI and cloud infrastructure. The collaboration is expected to improve life sciences research, clinical studies, and post-market surveillance.
EPAM Systems has been recognized as a top IT sourcing vendor in the UK, achieving high client satisfaction scores in the 2024 UK IT Sourcing Study by Whitelane Research. Over 300 CIOs from the top IT spending organizations in the UK evaluated nearly 900 unique IT sourcing relationships. EPAM scored 80% in digital transformation and 79% in service delivery quality, both surpassing the industry average of 75%. This recognition highlights EPAM's competitive edge in digital transformation, application services, and innovation metrics. The announcement aligns with similar accolades EPAM received across various European markets throughout 2023 and 2024.
EPAM Systems, Inc. reported first-quarter revenues of $1.165 billion, down 3.8% year-over-year. GAAP income from operations was 9.5% of revenues, with non-GAAP income at 14.9%. GAAP diluted EPS was $1.97, an increase of $0.24, while non-GAAP diluted EPS was $2.46, a decrease of $0.01 year-over-year. EPAM updated full-year revenue outlook to be in the range of $4.575 billion to $4.675 billion. For the second quarter, expected revenues are between $1.135 billion to $1.145 billion.
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