EPAM Acquires Alliance Global Services
EPAM Systems, Inc. (NYSE:EPAM), a leading global provider of product development and software engineering solutions, announced on November 16, 2015, its acquisition of Alliance Global Services, a software product development services and test automation solutions firm. The acquisition extends the company’s Global Delivery Platform by adding strong delivery capabilities in North America and India and expanding EPAM’s expertise in software engineering productivity and automation services.
Headquartered in Conshohocken, PA, Alliance Global Services offers software design, development and quality management services and works with clients in Life Science and Healthcare, Insurance, Information and Media, and Software and High Tech verticals. Recognized by leading industry analysts as a strong player in the Product Development Services space, the company recently received positive customer remarks for its proprietary scriptless test automation framework, named InsideEdge xAFT. The acquisition, in addition to further strengthening EPAM’s East Coast footprint, offers an additional North American location in Chicago, IL, as well as establishing strong delivery capabilities in Hyderabad and Pune, India.
“The scale and complexity of the solutions demanded today by our global customers challenges us to consistently maintain our traditional level of quality, regardless of the geographic locations and different time zones we are delivering from,” said Arkadiy Dobkin, EPAM CEO and President. “That is why this alignment between Alliance Global and EPAM is a strategic fit. Both companies share similar key verticals and a strong product and solution-based mindset and, in addition, offer our mutual clients integrated global delivery capabilities across Europe and APAC. This should allow us to address global challenges more effectively and solidify our leading position in the overall Product Development Services space.”
“EPAM has set the standard in the industry for delivering true end-to-end capabilities and we are excited to join this fast-growing technology services company and integrate our offerings to better serve our growing customer base,” said John Castleman, President and CEO of Alliance Global Services.
With this acquisition, EPAM is revising its full year 2015 revenue guidance and expects year-over-year revenue to be at least $905 million in GAAP reported revenue. Full year 2015 non-GAAP diluted EPS is expected to be at least $2.66 based on weighted average share count of approximately 52 million diluted shares outstanding. GAAP diluted EPS is expected to be at least $1.56.