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EPAM and VDI Announce a Strategic Merger

EPAM Systems, a software services company, independently recognised as the #1 IT outsourcing provider in Central and Eastern Europe for the last two years, and Vested Development, a Russian Software Outsourcing vendor, have announced a strategic merger.

The combined company, which will operate under the EPAM Systems name, will employ over 2,200 software professionals across eight countries and exceed USD 70 million revenue run rate.

Arkadiy Dobkin, EPAM Chairman, CEO and co-founder, who will continue leading EPAM's operations, said, "This merger enhances EPAM's position as the leader in Central and Eastern Europe and allows EPAM to offer the strongest alternative to the current mainstream outsourcing destinations. For many years it was anticipated that the CEE region would provide a sizeable and scalable global player. This expectation has finally materialised, and we are proud that EPAM leads this wave. Critical for staff retention in an increasingly global employment market this will present even broader and larger professional growth opportunities for our employees."

Anatoly Gaverdovsky, VDI CEO, who will be heading EPAM's operations in Russia, commented on the agreement, "By combining our separate but complimentary areas of specialisation and by broadening the geo-diverse talent pools, the merged company will boost scalability for delivering complex software engineering projects. For example, our office in Boston will compliment EPAM's client facing capabilities in New Jersey and Minnesota, and provide additional client and delivery support for one of the most important IT focus regions in the United States today."


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