EPAM Systems : Named 'Star Performer' and 'Major Contender' in Everest Group's Peak Matrix for IT Outsourcing in Capital Markets
November 11, 2015 at 10:19 am EST
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NEWTOWN, Pa., Nov. 11, 2015 (GLOBE NEWSWIRE) -- EPAM Systems, Inc. (NYSE:EPAM), a leading global provider of product development and software engineering solutions, announced today that it has been named 'Major Contender' and 'Star Performer' on Everest Group's PEAK Matrix(TM) for Capital Markets AO in Europe in the report 'IT Outsourcing in European Banking and Capital Markets - Service Provider Landscape with PEAK Matrix(TM) Assessment 2015: https://research.everestgrp.com/Product/EGR-2015-11-R-1606/IT-Outsourcing-in-European-Banking-and-Capital-Markets-Servic.
In the report, Everest analyzed 18 capital markets AO service providers, and identified EPAM as a '2015 European Capital Markets AO Market Star Performer.' This was based on the relative year-over-year movement of different service providers on the PEAK Matrix.
"Being recognized as a Major Contender and Star Performer by Everest Group in Capital Markets in Europe is a reflection of the confidence our clients have in us and our commitment to delivering valuable solutions and expertise to our Investment Banking and Wealth Management clients," said Balazs Fejes, SVP, Co-Head of Global Business, EPAM. "In the current global economic environment where banks are employing a dual strategy of focusing on revenue expansion and cost control, we are continuing to make investments in differentiating service capabilities, platforms and innovative technologies to help our customers succeed."
The PEAK Matrix is a framework to assess the relative market success and overall capability of service providers. Service providers are positioned on the PEAK Matrix based on evaluation across two key dimensions:
Market success measured by the ACV of large active AO deals, number of large active AO deals in Europe, yearly vertical specific AO revenue growth, and number of new AO contracts signed in Europe.
Delivery capability measured by scale of operations, scope, domain investment, delivery footprint and innovation.
This press release includes 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. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. EPAM undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: EPAM Systems, Inc via Globenewswire
EPAM Systems, Inc. specializes in the development and marketing of advanced digital solutions for companies and organizations. The group offers software engineering services, development and management of digital platforms, maintenance and optimization of IT infrastructures, consulting to companies, etc. Net sales break down by activity area as follows:
- travel, transport and retail (22.9%);
- financial services (21.7%);
- information services and media (16.1%);
- software and technology (15.1%);
- life sciences and health (10.4%);
- other (13.8%).
Net sales are distributed geographically as follows: the United States (56.2%), the United Kingdom (12.5%), Switzerland (7.8%), the Netherlands (5%), Germany (3.8%), Canada (2.1%), Russia (0.3%), and other (12.3%).
EPAM SYSTEMS, INC. 
