EPAM Systems to acquire First Derivative

EPAM Systems, Inc., a global leader in digital transformation and engineering, has announced its plan to acquire First Derivative, a consulting business specializing in capital markets.

With over 1,800 employees worldwide and an impressive client base of 100 top-tier financial institutions, First Derivative’s expertise will significantly bolster EPAM’s growing footprint in the financial services sector.

This acquisition is set to close by the fourth quarter of 2024, assuming regulatory approval.

So, what’s the big deal?

For EPAM, it’s more than just a numbers game.

First Derivative’s deep-rooted knowledge in capital markets and banking operations will allow EPAM to offer an expanded set of AI-enabled services, particularly for clients in North America, Europe, and the APAC region.

The addition of First Derivative's clients brings both value and scale, setting EPAM up to deliver cutting-edge tech solutions to some of the world’s largest financial institutions.

The move seems timely as EPAM continues to leverage the growing demand for AI-driven solutions, especially in the financial world.

First Derivative, which helps banks stay compliant and efficient through modernization, is a great fit. It's like adding rocket fuel to an already high-performance engine.

Let’s not forget the folks at the helm. First Derivative's CEO, David Collins, who reportedly boasts a net worth of over $30 million, has expressed excitement about the deal, and understandably so.

He said:

"EPAM's commitment to engineering excellence and its transformational capabilities, including GenAI, will strengthen and expand our ability to shape the future for clients, including the world's largest investment banks,"

With EPAM’s engineering prowess combined with First Derivative’s industry expertise, this acquisition promises to drive further innovation in the financial sector.

Collins and his team are eager to help clients navigate an increasingly complex regulatory landscape with advanced technology solutions—while keeping things cool under pressure, of course.

For EPAM, this isn't just another acquisition; it's a strategic leap forward.

And hey, who wouldn’t want to make financial markets a little less daunting, one AI solution at a time?