IT company EPAM has announced the acquisition of consultancy firm First Derivative, owned by FD Technologies and based in Northern Ireland. The amount of the deal was not disclosed.
- This strategic acquisition will enable EPAM to offer clients comprehensive AI capabilities by combining its expertise in digital technologies with First Derivative's services.
- The deal is expected to strengthen the company's position in North America, Europe and Asia-Pacific and help EPAM add more than 100 new clients.
"Combining EPAM's digital technology and engineering heritage with First Derivative's business services and software solutions, enhanced by the transformative potential of generative AI, will create valuable end-to-end capabilities for our clients. This will enable them to develop and scale their digital ecosystems, gain deeper insights from data, improve operations and drive innovation while mitigating risk and complying with regulatory requirements," said Balazs Feyesh, President of Global Business and Chief Revenue Officer at EPAM.
- First Derivative provides engineering, technical and business services to reduce costs through technology modernization. Its customers include the world's leading financial institutions, including the top 20 global banks.
- The transaction is expected to close in Q4 of 2024.
Earlier this autumn, EPAM announced the acquisition of NEORIS, a global consulting firm that helps companies digitize their businesses.
