EPAM Announces Agreement to Acquire First Derivative, Expanding Global Financial Services Practice
Strategic Acquisition will Enhance Capabilities in Capital Markets, Banking Operations and Asset Servicing, Strengthening Client Offerings Globally
EPAM will leverage First Derivative's strong industry experience and brand to deliver a comprehensive set of AI-enabled end-to-end capabilities to clients in banking, capital markets and other financially regulated businesses across
"We're pleased to expand our financial services portfolio and diversify our global footprint in key regions with the addition of First Derivative's deep expertise across capital markets, banking operations and asset servicing," said
First Derivative specializes in delivering engineering, technical and business services to help the world's leading financial institutions, including the top 20 global banks, stay compliant, reduce costs and enhance efficiency through tech modernization. Through highly customizable, holistic and easy-to-integrate solutions, clients are equipped to leverage the power of data and AI to enhance decision making.
"EPAM's commitment to engineering excellence and its transformational capabilities, including GenAI, will strengthen and expand our ability to shape the future for clients, including the world's largest investment banks," said
First Derivative is a division of FD Technologies plc, which is listed on the Alternative Investment Market (AIM) of the
"For more than 25 years, First Derivative has helped the world's largest global banks and financial services companies solve their most pressing operational, data and technological challenges," said
To learn more about EPAM's growing financial services capabilities, visit www.epam.com/industries/financial-services .
Details Regarding Proposed Acquisition of First
Derivative
The acquisition is subject to customary closing conditions, including the receipt of necessary regulatory clearances, and is expected to close in the fourth quarter of 2024.
ABOUT
Since 1993,
We make GenAI real with our AI LLM orchestration, testing and engineering solutions, EPAM DIAL, EPAM EliteA™ and EPAM AI/RUN™, respectively.
We deliver globally, but engage locally with our expert teams of consultants, architects, designers and engineers, making the future real for our clients, our partners and our people around the world.
We believe the right solutions are the ones that improve people's lives and fuel competitive advantage for our clients across diverse industries. Our thinking comes to life in the experiences, products and platforms we design and bring to market.
Added to the S&P 500 and the Forbes Global 2000 in 2021 and recognized by Glassdoor and Newsweek as a Top 100 Best Workplace, our multidisciplinary teams serve customers across six continents. We are proud to be among the top 15 companies in Information Technology Services in the Fortune 1000 and to be recognized as a leader in the IDC MarketScapes for Worldwide Experience Build Services, Worldwide Experience Design Services and Worldwide Software Engineering Services as well as a leader in the 2023 Gartner® Magic Quadrant™ for Custom Software Development Services, Worldwide.*
Learn more at www.epam.com and follow us on LinkedIn.
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ABOUT FD TECHNOLOGIES
FD Technologies is a group of data-driven businesses that unlock the value of insight, hindsight and foresight to drive organisations forward. The Group comprises KX, which provides software to accelerate AI-driven innovation and First Derivative, providing consulting services which drive digital transformation in financial services and capital markets. FD Technologies operates from 13 locations across
For further information, please visit www.fdtechnologies.com and www.kx.com.
Forward-Looking Statement
This press release includes certain statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Such forward-looking statements are mainly based on our current expectations and estimates of future events and trends, which affect or may affect our business and operations. These statements may include words such as "may," "will," "should," "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions. Those future events and trends may relate to, among other things, the closing of the Acquisition, which may not close on the terms or timing anticipated, or at all, the satisfaction or waiver of any conditions to the closing of the Acquisition, the anticipated impacts or benefits of the Acquisition, developments relating to the war in
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