History
EPAM Systems was founded in 1993 in Princeton, NJ, by two school mates: Arkadiy Dobkin, who emigrated to the US in 1991 and Leo Lozner from Minsk, Belarus.
Originally, the company name was an acronym (EPAm) defined as "Effective Programming for America". Eventually, the company adopted its present name—EPAM Systems.
EPAM's first major success came in 1995 when it started to work on sales force automation system development for Colgate. The system was implemented in Colgate’s offices in 25 countries. The project was noticed by SAP AG and EPAM was contracted for development of a system prototype to be presented at the annual SAP conference in 1996. Later on EPAM was involved with SAP's Netweaver software while it was still in the process of development.
EPAM was adversely affected with the downturn of 2002 in U.S. technology stocks. The company was able to replace most of the lost business the next year.
In 2004 EPAM completed the merger deal with Fathom Technology, a Budapest-based software engineering firm, and in 2006 with Vested Development Inc., a Russian offshore software development services provider. In 2008 EPAM acquired B2BITS Corp., provider of solutions and consulting services to the Capital Markets. In 2010 in pursuit to strengthen it Business Information service offering EPAM acquired Instant Information, a leading provider of cloud based information management and discovery services.
In 2008, EPAM Systems became the first resident of Belarus High Technologies Park, а business environment for IT companies with the aim to develop modern technologies and expand their exports.
The opening of branch offices in the UK (2006), Germany (2006), Sweden (2008) and delivery centers across Ukraine (2005) and Russia (2004-2006) significantly accelerated the company's growth in staff and revenues triggering its inclusion in major industry ratings.
On Feb 7, 2012, EPAM Systems launched an IPO under the stock symbol “EPAM.”
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