2 April 2008
EPAM Systems Acquires B2BITS Corp., a Leading Provider of Solutions and Consulting Services to the Capital Markets
EPAM establishes a Capital Markets Competency Center, led by industry veteran Mark Bisker, strengthening the company's offering for clients in the Financial Services sector where EPAM already has over 600 engineers providing development, maintenance, and support services to leading firms.
Lawrenceville, NJ - April 3, 2008 - EPAM Systems, Inc., the leading global software outsourcing services company with over 4,000 engineering staff across Eastern Europe, announces the acquisition of B2BITS Corp., a provider of solutions and consulting services to Capital Markets organizations within the financial services sector. B2BITS has been delivering pre-built solutions, customizable frameworks, specialized testing tools as well as process consulting for Client Connectivity, FIX, FX, Options, Fixed Income, market data feeds, exchange gateways and electronic payment services since 2000.
This acquisition combines the sector leading domain expertise of B2BITS, their renowned high-performance products and EPAM's highly scalable and cost efficient development groups of 600+ software engineers developing, maintaining and supporting mission critical applications for Financial Services clients. EPAM now covers the entire value chain from domain knowledge and process consulting through customized high-performance architecture as well as development, testing and 24/7 support.
Mark Bisker, CEO of B2BITS Corp. and industry veteran with over 25 years experience of leading technology development organizations at such companies as Schwab Capital Markets and Lava Trading heads EPAM's new Competency Center.
Competency Center consultants will be located in all major financial centers across the US and Europe, while production and support teams will be tightly linked into EPAM's distributed development organization in Eastern Europe to combine cost efficiency with domain knowledge and high-performance ruggedized SLAs.
"The management and consulting teams from B2BITS significantly enhance EPAM's expertise and capabilities in this important market segment. This underscores EPAM's focus and commitment to enhance our offerings beyond traditional custom development and support services, and become a key partner of the Capital Markets industry for providing true full service and delivering high-value systems," noted Arkadiy Dobkin, CEO and President of EPAM Systems.
"By leveraging the scale and experience of the most disciplined and efficient software engineering organization in the region, we can now better leverage our domain knowledge and consulting skills for the Capital Markets on a larger, more predictable and scalable level than previously, equally benefitting our current and future clients. We can now more rapidly broaden our domain expertise and enhance our pre-built solutions and platforms to further extend our unbeatable value proposition," said Mark Bisker, CEO and President of B2BITS Corp.
About B2BITS
Founded in 2000, B2BITS offers consulting and development services as well as proven performance leading technology for FIX products, exchange adapters, trading software, and other financial messaging protocols for large and small brokers and hedge funds.
In 2000, B2BITS revolutionized the Financial Information Exchange (FIX) protocol sector when it released an open source version of its first FIX engine. In 2005, B2BITS became one of only four official certification vendors endorsed by FIX Protocol Ltd., the official FIX standard setting organization.
Over the years, B2BITS has developed or licensed solutions and
provided consultancy to many leading organizations in the Financial
sector, including, JP Morgan, Merrill Lynch, Citigroup, SunGard,
and ABN AMRO.
www.b2bits.com
About EPAM Systems
New-Jersey based EPAM Systems is independently recognized as the leading global provider of software development outsourcing services from Russia, Hungary, Belarus, and Ukraine. EPAM harnesses the largest resource pool in Central and Eastern Europe, combined with the strongest onsite management and delivery capabilities in North America and Europe.
In "The 2008 Global Services 100 list" EPAM was rated for the third time the top Central/Eastern European service provider and was the only CEE IT outsourcer included in the global Top 10 "Best Performing IT Services Providers" category.
In "The 2007 Global Outsourcing 100" EPAM was rated the top Central/Eastern European and Russian ITO service provider and was the only CEE/Russian IT outsourcer included in the Leaders category. EPAM is also the sole CEE/Russian IT outsourcing company listed on "The 2007 Top 50 Best Managed Outsourcing Vendors" by Black Book of Outsourcing.
EPAM's customer base includes industry leaders such as Thomson
Reuters, London Stock Exchange, Renaissance Capital, Fitch Ratings,
Algorithmics, Troika Dialog, Colgate-Palmolive, British Telecom,
Hotels.com, CareFirst BlueCross BlueShield, Schlumberger, ScrewFix,
AeroMexico, and Halliburton, and technology leaders such as SAP,
BEA Systems, Microsoft, and Oracle.
www.epam.com