EPAM Systems, Inc., a leader in digital transformation services, has officially completed its acquisition of NEORIS, enhancing its service capabilities across Europe and Latin America. This strategic move not only strengthens EPAM’s global footprint but also augments its expertise in key sectors such as manufacturing and banking.
Overview of EPAM’s Acquisition of Neoris
The recently finalized acquisition sees EPAM absorbing NEORIS, a Miami-based advanced technology consultancy known for its significant presence in Latin America and Europe. NEORIS, which employs around 4,800 professionals, was previously held by funds managed by Advent International and global building materials company, Cemex. This acquisition is a pivotal expansion for EPAM, further solidifying its leadership in providing cutting-edge digital and procedural solutions worldwide.
Strategic Benefits of the Neoris Acquisition
Through this acquisition, EPAM greatly broadens its delivery capabilities, particularly in nearshore regions of Latin America and across Spanish-speaking markets. NEORIS’s proficiency in digital engagement and large-scale transformation projects complements EPAM’s existing services, enriching its portfolio in digital experience, engineering, and AI-infused solutions. This synergy is expected to deliver enhanced value to current and prospective clients by boosting operational efficiencies and accelerating market readiness.
Future Prospects and Impact on Markets
The acquisition of NEORIS by EPAM is expected to create new avenues for innovation and service delivery, strengthening its position in global markets. With this expanded capability, EPAM is poised to meet evolving demands in digital transformation more effectively, promising a robust growth trajectory marked by enhanced service offerings in existing and new markets. Furthermore, this strategic move helps EPAM in achieving a competitive edge in the burgeoning global digital services arena.
In summary, EPAM’s acquisition of NEORIS represents a significant strategic enhancement of its service capabilities abroad, particularly in vital European and Latin American markets. With NEORIS’s expansive technology consulting expertise now under its belt, EPAM is set to drive greater efficiency and innovation, steering towards a future filled with promising opportunities for growth and reinvention in the digital landscape.
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