Newtown, PA – March 16, 2018 – EPAM Systems, Inc. (NYSE:EPAM), a leading global provider of digital platform engineering and software development services, today announced its acquisition of Continuum, an innovation design firm headquartered in Boston with studios in Milan, Seoul, and Shanghai. Continuum partners with Fortune 500 clients in the healthcare, financial services, travel and hospitality, and consumer products industries to deliver value through four practices: Strategy, Physical/Digital Design, Technology and Made Real Lab.
The acquisition strengthens EPAM’s innovation consulting capabilities and enhances existing digital and service design practices by introducing a human-centered approach to physical design and product development. Continuum’s studios and the Made Real Lab are unique spaces that enable teams to collaborate throughout the entire iterative product development process by combining advanced prototyping technologies including mechanical, electrical and robotics engineering, together with AR/VR experimentation tools.
“The addition of Continuum expands our global presence in strategic markets in North America, Europe and Asia and brings to EPAM a deeper and more transformational, human-centered design approach, which will help us to better connect our customers’ physical and digital business,” said Arkadiy Dobkin, CEO & President, EPAM. “By introducing Continuum’s approach into our network of EPAM Garages, we further mature our own innovation service offerings, while continuing to inspire and develop our people.”
“By combining our capabilities, we will significantly improve our ability to turn innovative ideas, paired with disruptive technologies, into practical and scalable business solutions for our clients,” said Gianfranco Zaccai, Founder of Continuum. “Joining EPAM enables us to introduce world-class innovation design and product development at scale to a Global 2000 client base, while bringing a comprehensive end-to-end offering to our existing clients.”
Based on the estimated contribution of this acquisition, EPAM now expects revenue growth for full year 2018 to be at least 26% reported, or at least 24% in constant currency, after factoring in a 2% estimated currency tailwind, and GAAP EPS for the full year to now be at least $3.36 and Non-GAAP diluted EPS to now be at least $4.07. The Company’s adjustments to its 2018 outlook relate solely to the impact of the Continuum acquisition.
ABOUT EPAM SYSTEMS
Since 1993, EPAM Systems, Inc. (NYSE: EPAM) has leveraged its core engineering expertise to become a leading global product development and digital platform engineering services company. Through its ‘Engineering DNA’ and innovative strategy, consulting, and design capabilities, EPAM works in collaboration with its customers to deliver innovative solutions that turn complex business challenges into real business opportunities. EPAM’s global teams serve customers in over 25 countries across North America, Europe, Asia and Australia. EPAM is a recognized market leader among independent research agencies and was ranked #12 in FORBES 25 Fastest Growing Public Tech Companies, as a top information technology services company on FORTUNE’S 100 Fastest-Growing Companies, and as a top UK Digital Design & Build Agency. Learn more at http://www.epam.com/ and follow us on Twitter @EPAMSYSTEMS and LinkedIn.
Continuum is a global innovation design firm. We design products, services, and experiences that improve people’s lives, in small and large ways, while taking our clients’ businesses into the future. Our clients range from start-ups to Fortune 500 brands across the healthcare, financial services, mobility, and consumer products sectors. For over 35 years, Continuum has been recognized for outstanding innovation and design for projects spanning from medical device and consumer product development and design, to customer experience design and innovation capability. Learn more at http://www.continuumInnovation.com and follow us on Twitter @_Continuum and LinkedIn.