Thursday, September 18, 2014
Inquirer Daily News

Outsourcer EPAM buys Canada IT shop for $17M

Newtown firm grows beyond its post-Soviet focus

Outsourcer EPAM buys Canada IT shop for $17M

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.

Joseph N. DiStefano
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PhillyDeals posts raw drafts and updates of Joseph N. DiStefano's columns and stories about Philly-area finance, investment, commercial real estate, tech, hiring and public spending, which he's been writing since 1989, mostly for the Philadelphia Inquirer.

DiStefano studied economics, history and a little engineering at Penn, taught writing at St. Joe's, and has written the book Comcasted, more than a thousand columns, and thousands of articles, and raised six children with his wife, who is a saint.

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

Joseph N. DiStefano
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