EPAM
EPAM Systems
www.epam.com
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| Description | EPAM Systems is a world’s leading software engineering outsourcing services provider in Russia, CIS countries, Central and Eastern Europe. Founded in 1993, EPAM realized huge number of projects in the CIS region and worldwide. EPAM software development centers are located in Russia, Hungary, Belarus, and Ukraine. |
| Key Deal Terms | Investor: PSGF
Location: USA, Russia and other CIS countries
Sector: IT
Investment: February 2008
Stage: Growth Capital |
| Background | In February 2008, Da Vinci Private Sector Growth Fund made initial investment in EPAM Systems, Inc. The deal is led by Oleg Jelezko on behalf of the PSGF and investment consortium of international investors. |
| Strategy |
- Expansion into Western Europe.
- Further consolidation of the Russian IT outsourcing market (EPAM is top 2 in this segment).
- Technical innovation and complex problem solving.
- Development of niche capability as part of the global delivery model.
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| Value add |
- Observer seat on the Board of Directors.
- Regular reviews of operational model/exit strategy.
- Looking for M&A targets for EPAM.
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| Performance |
- According to S1 form filed on SEC website, EPAM revenue in 2010 accounted for 222 mn USD showing 48% increase. EBITDA increased by 20% and stands for 39 mn USD which is 80%. Net Income is 28 mn USD with 110% increase.
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Raise in the daily average number of derivatives contracts traded on the RTS Stock Exchange from January 2009 to August 2011
