3 minute read | September.04.2024
EPAM Systems, Inc. (NYSE: EPAM), a leading digital transformation services and product engineering company, has entered into an agreement to acquire NEORIS, a Miami-headquartered global advanced technology consultancy with more than 4,700 professionals in Latin America, Spain, and the U.S. The transaction, subject to customary closing conditions, is expected to close in the fourth quarter of 2024.
Orrick advised EPAM, which agreed to acquire NEORIS from funds managed by Advent International, one of the largest and most experienced global private equity investors and Cemex, a global construction materials company.
Since 1993, EPAM Systems, Inc. has used its software engineering expertise to become a leading global provider of digital engineering, cloud and AI-enabled transformation services and a leading business and experience consulting partner for global enterprises and ambitious startups.
The company address its clients' transformation challenges by focusing EPAM Continuum's integrated strategy, experience and technology consulting with 30+ years of engineering execution to speed clients' time to market and drive greater value from their innovations and digital investments.
NEORIS is a leading global digital accelerator, with more than 20 years of experience. It helps companies and organizations around the world to take the leap towards innovation, through the design and implementation of disruptive and sustainable solutions so they can develop their activities in a more efficient and a competitive way.
Headquartered in Miami, Florida, NEORIS has operations in the U.S., Europe and Latin America. It has more than 400 clients.
Cemex is a global construction materials company that is building a better future through sustainable products and solutions. Cemex is committed to achieving carbon neutrality through relentless innovation and industry-leading research and development.
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in 420 private equity investments across 43 countries, and as of December 31, 2023, had $94 billion in assets under management.
The addition of NEORIS will create a market offering for clients across Latin America and in Spanish- and Portuguese-speaking markets, while broadening EPAM’s global and nearshore delivery capabilities across North America and Europe, EPAM said in a statement.
“NEORIS’ commitment to engineering quality, innovation, and strong level of client engagement, combined with their deep expertise across our key industry segments, makes them the best partner for us," said Arkadiy Dobkin, CEO & President at EPAM.
“This combination will significantly strengthen our presence in LATAM while we continue to enhance our differentiated delivery capabilities across Europe, India and APAC.”
NEORIS CEO Martin Mendez said the company is “thrilled about the opportunities” the acquisition creates.
“Together, we will accelerate technology and business transformation solutions for our now even-more-diversified client portfolio,” Mendez said.
Matthew Gemello, Spencer Cohen, Joanna Pak and Anika Nayyar led the Orrick team that advised EPAM Systems. The team also included Juliano Banuelos, Keith Tidwell, Craig Falls, SeoJung Park, Daniel R. Alonso, Sarah Schaedler, Eric Wall, Amy W. Ray, Jeanine McGuinness, Danielle Mangogna, Olivia Rauh, Carly Owens, Kimberly M. Loocke, Jose Lamarque, Matthew Coleman, Maria Sergeyeva, Delia Bennett, Dean Corrado, Victor Oriard and Kyle Holt.