EPAM Acquires Neoris, Expands Delivery Capabilities

By Tamara Parker • Wednesday, September 04 15:20 • Permanent Link

EPAM Systems, Inc. has announced the acquisition of Neoris, a global advanced technology consultancy, with the agreement set to expand EPAM's delivery capabilities in Latin America and Europe. Neoris, headquartered in Miami, has more than 4,700 professionals across talent hubs in Latin America, Spain, and the U.S.

Neoris specializes in delivering complex digital engagement and transformation projects across various industries, such as manufacturing, banking, CPG & retail, and telco & media. The acquisition is expected to significantly strengthen EPAM's presence in Latin America and enhance its delivery capabilities across Europe, India, and APAC.

The acquisition is subject to customary closing conditions and is anticipated to close in the fourth quarter of 2024. Orrick is serving as legal advisor to EPAM, while Simpson Thacher & Bartlett; Creel, García-Cuéllar, Aiza y Enríquez; Martínez, Quintero, Mendoza, Gonzáles, Laguado, & De La Rosa; DLA Piper; Freshfields Bruckhaus Deringer; and Pérez-Llorca are serving as legal advisors to Neoris and its shareholders. Canaccord Genuity is serving as Neoris's financial advisor.

EPAM Systems, Inc. is a leading global provider of digital engineering, cloud, and AI-enabled transformation services, and a business and experience consulting partner for global enterprises. The company has been 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.

Neoris, on the other hand, is a leading global digital accelerator with more than 20 years of experience, helping companies and organizations around the world innovate through disruptive and sustainable solutions.

The acquisition of Neoris by EPAM Systems, Inc. marks a significant development in the digital transformation and technology consulting industry, with the potential to create a broader and more diversified client portfolio for both companies. Following these announcements, the company's shares moved 3.0%, and are now trading at a price of $201.28. For more information, read the company's full 8-K submission here.

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