EPAM Completes Acquisition of First Derivative, Boosting Financial Services
Deal News | Dec 03, 2024 | PR Newswire Cision EPAM Systems, Inc.
EPAM Systems, a global digital transformation and product engineering company, has completed the acquisition of First Derivative, a consulting business headquartered in Northern Ireland and specializing in capital markets. With more than 1,800 employees, First Derivative is recognized for having one of the world's largest capital markets consulting teams, offering expertise in areas like real-time data platforms, AI, and machine learning. This acquisition extends EPAM's service reach across North America, Europe, and APAC, aligning with EPAM's strategic enhancement of AI and data-driven services for financial industries. The closing of the deal, facilitated by Stone Key Partners LLC and Faegre Drinker as advisors, is predicted to enhance EPAM’s capabilities in banking and regulated industries.
Sectors
- Financial Services
- Technology and Consulting
Geography
- North America – EPAM intends to enhance its financial services delivery in North America as part of the acquisition.
- Europe – First Derivative is headquartered in Northern Ireland, and the acquisition expands EPAM's reach in Europe.
- APAC – The acquisition is expected to enhance EPAM's financial services capabilities within the APAC region.
Industry
- Financial Services – The acquisition focuses on enhancing AI and data-driven solutions specifically for financial services, including sectors such as banking and capital markets.
- Technology and Consulting – EPAM's acquisition aims to leverage First Derivative's tech capabilities in application development, AI, and data solutions, key areas in consultancy.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| EPAM Systems, Inc. | Acquirer | Company | A global digital transformation services firm focusing on software engineering and product development. |
| First Derivative | Target | Company | A Northern Ireland-based consulting firm, specializing in capital markets and managed services. |
| Stone Key Partners LLC | Financial Advisor | Company | Provided financial advisory services to EPAM in the acquisition. |
| Faegre Drinker | Legal Advisor | Company | Served as EPAM's legal advisor in the acquisition process. |