Sunday, February 7, 2016

Outsourcer EPAM buys Canada IT shop for $17M

Newtown firm grows beyond its post-Soviet focus

Outsourcer EPAM buys Canada IT shop for $17M

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EPAM Systems, Inc., the Newtown, Bucks County software engineering-IT outsourcing company that specializes in replacing engineers in the U.S. and other Western markets with lower-paid work in the former Soviet Union and Soviet-bloc countries, says it's agreed to pay $17.4 million in cash, stock and assumed debt for Toronto-based Thoughtcorp, an "IT consultancy and software solution provider" for telecom, finance and retail companies.

 

The deal spreads EPAM into Canada and adds capacity in "Agile Development, Enterprise Mobility and Business Intelligence," EPAM chief executive Arkadiy Dobkin said in a statement.

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PhillyDeals posts interviews, drafts and updates that Joseph N. DiStefano writes alongside his Sunday and Monday columns and ongoing articles about Philadelphia-area business.

DiStefano studied economics, history and a little engineering at Penn. He taught writing and research at St. Joe’s. He has written for the Inquirer since 1989, except when he left a few times to work at Bloomberg and elsewhere. He wrote the book Comcasted, and raised six kids with his wife, who is a saint.

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