Tuesday, September 1, 2015

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 drafts, transcripts and updates of Joseph N. DiStefano's columns and stories about Philly-area business, which he's been writing since 1989.

DiStefano studied economics, history and a little engineering at Penn and taught writing at St. Joseph's. He has written thousands of columns and articles for the Inquirer, Bloomberg and other media, wrote the book Comcasted, and raised six children with his wife, who is a saint.

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Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

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