EPAM acquires Alliance Global Services for $50 mn

NYSE-listed EPAM Systems provides product development and software engineering solutions

EPAM Systems Inc — a New York Stock Exchange-listed company that provides product development and software engineering solutions — has acquired US-based software product development services and test automation solutions firm Alliance Global Services for $50 million (approximately Rs 335 crore). Alliance Global Services has more than 1,100 engineers, testers and designers in its India delivery centres — at Hyderabad and Pune.

The company offers software design, development and quality management services and works with clients in life science and healthcare, insurance, information and media, and software and high-tech verticals.

“The alignment between Alliance Global and EPAM is a strategic fit,” Arkadiy Dobkin, chief executive and president of EPAM, told mediapersons on Thursday.

“India’s rich engineering IT talent pool allows us to further expand our delivery capabilities and support our continued growth. This acquisition will allow us to address global challenges more effectively and solidify our position in the overall product development services space.”

EPAM has reported revenues of $730 million in 2014. With this acquisition, it is revising its full year 2015 revenue guidance and expects year-over-year revenue to be at least $905 million in GAAP (generally-accepted accounting principles) reported revenue, the company said.