NEWTOWN, PA and NEWRY, N. Ireland — EPAM Systems, Inc. (NYSE: EPAM) has announced its acquisition of First Derivative, a prominent managed services and consulting firm in the capital markets sector, headquartered in Northern Ireland. This strategic move aims to broaden EPAM’s capabilities in financial services, leveraging First Derivative’s extensive industry expertise and global presence.
With over 1,800 employees worldwide, First Derivative brings significant delivery capabilities across the UK, Ireland, North America, and the Asia-Pacific region. The acquisition is set to enhance EPAM’s service offerings by integrating AI-driven solutions, enabling improved service delivery for clients in banking, capital markets, and other financially regulated sectors.
“We’re pleased to expand our financial services portfolio and diversify our global footprint in key regions with the addition of First Derivative’s deep expertise across capital markets, banking operations, and asset servicing,” stated Balazs Fejes, President of Global Business and Chief Revenue Officer at EPAM. Fejes highlighted the synergy between EPAM’s digital and engineering prowess and First Derivative’s specialized services. This combination promises to deliver comprehensive, AI-enabled capabilities, helping clients to innovate while ensuring regulatory compliance.
First Derivative’s role in supporting major financial institutions, including the top 20 global banks, is underscored by their focus on enhancing compliance, reducing costs, and improving operational efficiencies through technology modernization. Their solutions emphasize data and AI integration to support decision-making processes.
David Collins, CEO of First Derivative, expressed enthusiasm about the acquisition, saying, “EPAM’s commitment to engineering excellence and its transformational capabilities, including GenAI, will strengthen and expand our ability to shape the future for clients, including the world’s largest investment banks.” Collins noted that joining EPAM would further their mission to help organizations enhance agility and competitiveness in a rapidly changing market.
As First Derivative becomes part of EPAM, the combined entity aims to become a leading provider of differentiated business and technology services for the financial industry, offering a complete suite of end-to-end solutions to leading investment banks worldwide. This acquisition marks a significant step in EPAM’s strategic expansion, reinforcing its position as a key player in the digital transformation of financial services.
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