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News and Information Article
PRINCETON, N.J., Feb. 2 // -- EPAM Systems, Inc.
( http://www.epam.com ), the number one provider of software engineering
outsourcing services in Central and Eastern Europe, announced today that
Siguler Guff & Company has made a significant investment in EPAM equity. To
fully leverage EPAMs position as the largest, most experienced provider in
the region, these additional funds will accelerate both organic and
acquisition-based expansion of EPAMs delivery capacity in Eastern Europe, as
well as client-facing consulting capabilities in the U.S. and EU.
EPAM CEO Arkadiy Dobkin said, "We chose Siguler Guff as our partner due to
their unparalleled experience investing in the region and long history of
venture investing in the U.S."
"Siguler Guff is delighted to be working with the EPAM management team,"
said Drew Guff, Managing Director of Siguler Guff. "Their organic growth
during the last five years put them in a regional leadership position at a
critical juncture when Central and Eastern Europe has gained visibility,
reputation and market share in the global services market. We hope to
accelerate EPAMs growth, fully capitalizing on opportunities for regional
consolidation".
About Siguler Guff
Siguler Guff is a leading private equity management firm with over
$3 billion under management since its inception. Siguler Guffs diversified
private equity business includes a leading private equity firm investing in
Russia and other countries of the former Soviet Union. It has been making
investments in the region since 1994 and currently has $350 million in
investable capital.
http://www.sigulerguff.com
For further information, contact: Thomas McGowan, (212) 332-5126,
thomasm@sigulerguff.com
About EPAM Systems
EPAM Systems is a global provider of software engineering services. In
January 2005 EPAM was named No.1 of "Top 5 to Watch in Central and Eastern
Europe" and No.3 of "Top 10 Specialty Application Development Leaders"
categories on the global Offshore 100 list by neoIT and CMPs Managing
Offshore. Founded in 1993, EPAM maintains North American headquarters in
Princeton, NJ and European headquarters in Budapest, Hungary, as well as
support and delivery operations in the UK and Germany. EPAM software
development centers are located in Russia, Belarus, Ukraine and Hungary.
EPAMs customer base includes industry leaders such as Reuters, London
Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst
BlueCross BlueShields, Halliburton and technology leaders such as SAP,
Hyperion, BEA Systems and Microsoft.
http://www.epam.com
For further information, contact: press@epam.com
This release was issued through Software Wire, a focused PR solution for
reaching software industry media outlets, reviewers and business analysts
worldwide. For more information, visit http://www.SoftwareWire.com .
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