EPAM Systems

EPAM Systems is a United States-headquartered multinational technology services and consulting company focused on software engineering, digital platform engineering, digital product development, experience design, data and analytics, cloud modernization, cybersecurity, and business consulting. The company serves enterprises, software and technology companies, financial institutions, healthcare organizations, retailers, media companies, manufacturers, and public-sector or regulated-industry clients. Its work generally involves designing, building, modernizing, integrating, and operating complex software products and technology platforms rather than selling a single mass-market software application. EPAM was established in 1993 by Arkadiy Dobkin and Leo Lozner. Its original operating model connected client-facing activity in the United States with engineering capacity in Belarus and other parts of Central and Eastern Europe. That cross-border structure helped the company offer specialized software product development at a time when many enterprises were beginning to outsource portions of their engineering work. EPAM initially built its reputation through custom software and product engineering, including early work for large enterprise technology customers such as SAP. The company’s engineering orientation remained central as it expanded into systems integration, enterprise platforms, analytics, mobile, cloud, design, and strategic consulting. The business broadened its geographic and service footprint through delivery-center expansion and acquisitions. The 2004 acquisition of Fathom Technology in Hungary gave EPAM its first European delivery center and added senior leaders, including Balazs Fejes and Karl Robb. Later acquisitions strengthened agile development, business intelligence, mobile engineering, digital experience, design, marketing, cybersecurity, Salesforce consulting, financial-services technology, and Latin American delivery. Businesses associated with EPAM include EPAM Continuum, its strategy, innovation, design, and consulting practice, as well as acquired capabilities from companies such as Thoughtcorp, Empathy Lab, Continuum, TH_NK, Alliance Global Services, PolSource, White-Hat, Emakina Group, Contino, Vates, and First Derivative. EPAM became a public company on the New York Stock Exchange in 2012. During the following decade it developed from a specialist software engineering provider into a broader digital transformation partner. The company’s service portfolio came to span product strategy, customer experience, architecture, application modernization, cloud engineering, data platforms, artificial intelligence, cybersecurity, testing, managed services, and technology operations. It has also developed or commercialized technology products and platforms such as InfoNgen and TelescopeAI, although services and client-specific engineering remain the core of the business. The company faced a major operating and workforce challenge after Russia’s invasion of Ukraine in February 2022. EPAM announced that it would discontinue services to Russian customers, begin exiting its Russian operations, support business continuity, and commit substantial humanitarian resources to employees and families affected in Ukraine. It subsequently accelerated workforce diversification and hiring in India, Latin America, Central and Eastern Europe, and other locations. This episode materially influenced EPAM’s delivery-footprint strategy and reduced its historical dependence on Eastern European engineering centers. From 2023 onward, EPAM emphasized artificial intelligence, generative AI, cloud, and data-driven modernization as strategic growth areas. Its 2024 initiatives included the launch or expansion of offerings such as EPAM DIAL, EliteA, and AI/RUN. Acquisitions such as Vates and First Derivative expanded delivery capacity in Latin America and financial-services technology, respectively. In September 2025, founder Arkadiy Dobk…

EPAM Systems began in 1993 as a cross-border software engineering venture founded by Arkadiy Dobkin and Leo Lozner. Dobkin operated from New Jersey while early engineering work was performed in Minsk, Belarus. This structure linked access to United States clients with the technical labor pool of Central and Eastern Europe. The company’s original focus was software product development and custom enterprise systems, a specialization that distinguished it from lower-complexity outsourcing providers. During the 1990s, EPAM built experience in enterprise software and won work from multinational customers. The company identifies SAP as its first major software product-development client, while earlier work also included a Salesforce Automation solution for Colgate-Palmolive. These engagements helped establish an engineering-led business model based on long-term product development, modernization, and integration rather than one-off implementation projects. The technology downturn of the early 2000s created pressure to diversify EPAM’s client base and geographic reach. In 2004, the company acquired Fathom Technology, a Hungarian software engineering firm, opening EPAM’s first European delivery center. The transaction also brought in executives who later became important to EPAM’s international expansion, including Balazs Fejes and Karl Robb. Through the mid- and late-2000s, EPAM added delivery centers and selectively acquired or developed capabilities in Europe and North America. EPAM continued broadening its portfolio in the 2010s. It acquired Thoughtcorp and Empathy Lab in 2012, adding or strengthening agile, business intelligence, mobile, digital engagement, customer experience, design, and e-commerce capabilities. The company went public on the New York Stock Exchange in 2012. It subsequently expanded into digital consulting and experience work, while retaining software engineering and platform development as its primary base. In 2015, EPAM acquired Alliance Global Services, expanding product development capacity and strengthening its presence in India. In 2018, it acquired Continuum and TH_NK. Continuum became associated with EPAM Continuum, a practice combining business strategy, innovation, industrial and experience design, and technology. TH_NK strengthened digital and service-design capabilities. EPAM also commercialized technology products such as InfoNgen, a text analytics and sentiment-analysis platform, and TelescopeAI, a platform associated with workforce management and IT operations. The company’s acquisition program continued into the 2020s. EPAM acquired PolSource in 2021 to strengthen Salesforce consulting, White-Hat to expand cybersecurity, and Emakina Group to add digital agency, creative, marketing, experience, and analytics capabilities. EPAM joined the S&P 500 in December 2021. These developments reflected a broader transformation of the company from a specialist engineering supplier into a multidisciplinary digital transformation partner. Russia’s invasion of Ukraine in February 2022 was the most consequential operating disruption in EPAM’s modern history. The company had significant employee populations in Ukraine, Belarus, and Russia. In March 2022, EPAM announced that it would discontinue services to Russian customers, evaluate and then exit other regional operations, accelerate hiring and delivery expansion in other countries, and commit $100 million in additional humanitarian support for employees and families in Ukraine. It later created the EPAM Ukraine Assistance Fund to direct charitable support to relief organizations. The crisis also accelerated relocation and diversification of the company’s workforce and delivery model. After 2022, EPAM placed greater emphasis on India, Latin America, Western Europe, cloud engineering, data, cybersecurity, and artificial intelligence. The company described AI and generative AI as central to its next growth phase and promoted offerings including EPAM DIAL, EliteA, and AI/RUN. The 2024 acquisition of Vates expanded engineering delivery in Argentina and Chile, while the acquisition of First Derivative strengthened financial-services, capital-markets, managed-services, data, automation, and AI capabilities. Leadership changed on September 1, 2025. Arkadiy Dobkin moved from CEO, president, and chairman to executive chairman, while Balazs Fejes became CEO and president. Fejes had joined EPAM through the Fathom Technology acquisition and had previously served as CTO, president of Europe and APAC, president of global business, and chief revenue officer. The transition preserved founder involvement while placing day-to-day leadership with a long-serving engineering and international-business executive. EPAM’s continuing identity is that of a globally distributed, engineering-centered technology partner serving complex enterprise transformation programs.

1. 2025Founder-led CEO succession

   Balazs Fejes becomes CEO and president, while Arkadiy Dobkin becomes executive chairman.

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2. 2024Vates acquisition

   EPAM acquires Vates to expand software engineering, cloud, testing, and digital delivery in Argentina and Chile.

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3. 2024First Derivative acquisition

   EPAM completes the acquisition of First Derivative, expanding its financial-services, capital-markets, managed-services, data, automation, and AI capabilities.

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4. 2022Russia exit and Ukraine support

   EPAM discontinues Russian customer services, begins exiting Russian operations, and commits major humanitarian resources to Ukrainian employees and families.

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5. 2021S&P 500 inclusion

   EPAM is added to the S&P 500 index.

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6. 2021Emakina Group acquisition

   EPAM acquires Emakina Group to expand digital experience, creative, marketing, analytics, and platform capabilities.

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7. 2018Continuum and TH_NK acquisitions

   EPAM adds strategy, innovation, design, digital experience, and service-design capabilities.

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8. 2018InfoNgen commercialization

   EPAM launches InfoNgen, an enterprise text analytics and sentiment-analysis product using artificial intelligence.

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9. 2015Alliance Global Services acquisition

   EPAM expands software product-development capacity and strengthens its India presence through the acquisition of Alliance Global Services.

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10. 2012New York Stock Exchange listing

    EPAM becomes publicly traded on the NYSE under the ticker EPAM.

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11. 2012Thoughtcorp and Empathy Lab acquisitions

    The acquisitions add agile, business intelligence, mobile, digital engagement, customer-experience, design, and e-commerce capabilities.

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12. 2004Fathom Technology acquisition

    EPAM acquires Fathom Technology in Hungary, opening its first European delivery center and accelerating geographic diversification.

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13. 1997First major software product-development client

    EPAM identifies SAP as its first major software product-development client, reinforcing its engineering-led market position.

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14. 1996Colgate-Palmolive engagement

    EPAM is selected to help develop and deploy a Salesforce Automation solution across Colgate-Palmolive organizations in Europe and Latin America.

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15. 1993EPAM opens for business

    Arkadiy Dobkin and Leo Lozner establish EPAM as a cross-border software engineering company operating between the United States and Belarus.

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High-end engineering-led digital transformation partner combining software product development, consulting, design, data, cloud, and industry-specific technology services.

• Digital Platform EngineeringTechnology services

  EPAM’s core engineering offering covers the architecture, development, modernization, integration, testing, and operation of enterprise platforms. Work may involve cloud-native systems, legacy transformation, distributed applications, APIs, data platforms, and technology foundations supporting large-scale digital products.

• Software Product DevelopmentSoftware engineering services1993

  EPAM partners with software companies and enterprises to design, build, maintain, and evolve commercial or internal software products. The offering is rooted in the company’s early product-engineering work and includes product strategy, architecture, development, quality engineering, user experience, and lifecycle support.

• EPAM ContinuumStrategy, innovation and design consulting2018

  EPAM Continuum combines business strategy, innovation, experience design, industrial design, and technology execution. It is intended to connect customer research and future-oriented concept development with the engineering and operational capabilities needed to launch digital or physical-digital products.

• AI and Generative AI ServicesArtificial intelligence services2024

  EPAM provides AI, machine learning, generative AI, data engineering, model implementation, and AI-enabled modernization services. The company has positioned AI as a central strategic priority and has introduced offerings including EPAM DIAL, EliteA, and AI/RUN for enterprise adoption and operationalization.

• InfoNgenEnterprise software2018

  InfoNgen is an enterprise text analytics and sentiment-analysis product associated with EPAM. It applies artificial intelligence and language-processing techniques to help organizations analyze large volumes of unstructured information and extract business insights.

• TelescopeAIArtificial intelligence platform

  TelescopeAI is an EPAM-developed platform associated with workforce coordination, IT operations, and predictive analytics. It originated as an internal workforce-management tool before being productized for broader enterprise use.

• Cybersecurity and Zero TrustCybersecurity services2021

  EPAM’s cybersecurity practice covers security architecture, application security, cloud security, cyber defense, identity, and zero-trust approaches. The 2021 acquisition of White-Hat expanded its specialist cybersecurity expertise and EMEA delivery capacity.

• Financial Services TechnologyIndustry technology services2024

  EPAM serves banks, capital-markets firms, insurers, and other regulated businesses with application modernization, data platforms, automation, AI, managed services, and specialized commercial-software implementation. First Derivative strengthened this portfolio through its capital-markets consulting and technology operations capabilities.

• 2024AI, GenAI and Innovation Initiative

  Global

  EPAM made artificial intelligence, generative AI, and enterprise innovation prominent themes in its corporate offering, supported by initiatives and products including EPAM DIAL, EliteA, and AI/RUN.

  Outcome. The initiative reinforced EPAM’s strategic shift toward AI-enabled engineering, modernization, and business transformation services.

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• 2022EPAM Ukraine Assistance Fund

  Ukraine · United States · Global

  EPAM created a charitable assistance fund to support organizations providing medical supplies, shelter, food, hygiene materials, transportation, counseling, and other humanitarian relief in Ukraine. The fund supplemented the company’s broader employee and family-support programs after Russia’s invasion.

  Outcome. The fund became part of EPAM’s continuing humanitarian response and was supported by employees, customers, partners, and external donors.

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• 2025Planned founder-led leadership successionStrategy

  After more than three decades of founder-led expansion, EPAM planned a transition designed to preserve Arkadiy Dobkin’s strategic involvement while appointing an experienced internal successor.

  What changed. Effective September 1, 2025, Balazs Fejes became CEO and president, and Arkadiy Dobkin became executive chairman.

  Aftermath. The transition placed day-to-day leadership with a longtime EPAM executive who had previously led global business, technology, and regional operations.

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• 2024Acquire VatesM&A

  EPAM aimed to expand its Latin American delivery footprint and add engineering capacity in cloud, testing, and digital services.

  What changed. EPAM acquired Vates, a software development company with operations in Argentina and Chile.

  Aftermath. The acquisition diversified EPAM’s geographic delivery model and increased its engineering presence in Latin America.

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• 2024Acquire First DerivativeM&A

  EPAM sought to deepen its financial-services and capital-markets capabilities, especially in managed services, data, automation, and AI.

  What changed. EPAM completed the acquisition of First Derivative, a Northern Ireland-headquartered consulting and managed-services business.

  Aftermath. EPAM added a substantial specialist financial-services team and expanded its ability to serve regulated financial institutions across North America, Europe, and Asia-Pacific.

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• 2022Exit Russian customer and delivery operationsStrategy

  Russia’s invasion of Ukraine created a humanitarian, operational, and geopolitical crisis for a company with substantial employee and delivery populations in Eastern Europe.

  What changed. EPAM announced that it would discontinue services to Russian customers, begin a phased exit from Russian operations, support employee relocation, and accelerate hiring and investment in other regions.

  Aftermath. The decision reduced EPAM’s Russian footprint and accelerated diversification toward India, Latin America, Central and Western Europe, and other delivery locations.

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• 2021Acquire Emakina GroupM&A

  EPAM sought to expand beyond engineering into digital strategy, creative services, marketing, experience design, analytics, and platform development.

  What changed. EPAM acquired Emakina Group, a Belgium-headquartered digital agency group with a broad European and international presence.

  Aftermath. The transaction strengthened EPAM’s digital experience and creative-services portfolio in EMEA and other markets.

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• 2025EPAM Announces Planned Leadership Succession

  EPAM announced that founder and longtime chief executive Arkadiy Dobkin would become executive chairman effective September 1, 2025, while Balazs Fejes would become chief executive officer and president.

  Leadership change
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• 2025Balazs Fejes Becomes Chief Executive Officer and President

  The planned succession took effect on September 1, 2025, transferring day-to-day executive leadership to Fejes while Dobkin continued as executive chairman.

  Leadership change
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• 2024EPAM Completes Acquisition of First Derivative

  EPAM completed its acquisition of the Northern Ireland-headquartered financial-services technology and managed-services business, adding capital-markets consulting, data, automation, and AI capabilities.

  M&A
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• 2024EPAM Expands in Latin America Through Vates Acquisition

  EPAM acquired Vates, a software development company with offices in Argentina and Chile, to expand engineering, cloud, testing, and digital delivery capabilities in Latin America.

  M&A
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• 2024EPAM Emphasizes AI, GenAI and Innovation

  EPAM highlighted artificial intelligence and generative AI as strategic priorities and introduced or expanded offerings including EPAM DIAL, EliteA, and AI/RUN.

  Product launch
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• 2022EPAM Completes Exit from Russian Operations

  Following Russia’s invasion of Ukraine, EPAM announced an end to services for Russian customers and began a phased exit from its Russian operations while relocating employees and diversifying delivery capacity.

  Other
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• 2022EPAM Commits Humanitarian Support for Ukraine

  EPAM announced an additional $100 million humanitarian commitment to support employees and families in Ukraine and later established the EPAM Ukraine Assistance Fund for charitable relief organizations.

  CampaignOther
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• 2021EPAM Acquires Emakina Group

  The acquisition added digital strategy, creative, marketing, experience, analytics, and platform-development capabilities across Europe and other markets.

  M&A
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• 2021EPAM Joins the S&P 500

  EPAM was added to the S&P 500 index, reflecting its growth into a large publicly traded technology-services company.

  Other
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• 2021EPAM Acquires White-Hat

  EPAM acquired Israel-based White-Hat Ltd. to strengthen cybersecurity and zero-trust capabilities and diversify its EMEA delivery footprint.

  M&A
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• 2021EPAM Acquires PolSource

  The acquisition expanded EPAM’s Salesforce consulting and implementation capabilities across the Americas and Europe.

  M&A
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• 2012EPAM Listed on the New York Stock Exchange

  EPAM completed its public listing on the New York Stock Exchange under the ticker symbol EPAM.

  Other
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1. EPAM Systems official history
2. EPAM Systems Wikipedia article
3. EPAM executive leadership
4. Balazs Fejes leadership biography
5. Arkadiy Dobkin leadership biography
6. EPAM leadership succession announcement
7. EPAM Ukraine update
8. EPAM Ukraine Assistance Fund
9. EPAM Emakina Group acquisition
10. EPAM Vates acquisition
11. EPAM First Derivative acquisition
12. EPAM White-Hat acquisition
13. EPAM 2023 annual report