NEORIS

Canaccord Genuity Advises NEORIS on its Sale to EPAM

The acquisition will expand EPAM’s delivery capabilities in Latin America and Europe and increase client value across key industries

Canaccord Genuity has advised NEORIS, a Miami-headquartered global advanced technology consultancy with more than 4,700 professionals across major talent hubs in Latin America, Spain, and the US, on its pending sale to EPAM Systems, Inc. (NYSE: EPAM), a leading digital transformation services and product engineering company. The sellers are funds managed by Advent International, one of the largest and most experienced global private equity investors, and Cemex, a global construction materials company.

With more than 20 years of experience, NEORIS is a leading global digital accelerator that, through the design and implementation of disruptive and sustainable solutions, helps companies and organizations around the world take the leap towards innovation in order to develop their activities in a more efficient and competitive way. The company specializes in delivering complex digital engagement and transformation projects for more than 400 active clients in the Americas and Europe across various industries, such as Manufacturing, Banking, CPG and Retail, and Telco and Media, among others. The company utilizes its strong software development and technology consulting expertise in multiple domains, including Digital Experience, Engineering, SAP, Data, Analytics, Machine Learning (ML) and Artificial Intelligence (AI), Interactive User Experience (UX), Digital Strategy, and Enterprise Architecture. NEORIS is the first and only IT consulting company in Latin America to receive the SAP® global services certification, and the company counts industry majors among its global partners, including Microsoft, Amazon Web Services, Oracle, and Salesforce.

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. Since 1993, EPAM Systems 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 addresses its clients' transformation challenges by focusing EPAM Continuum's integrated strategy, experience, and technology consulting with its 30+ years of engineering execution to speed its clients' time to market and drive greater value from their innovations and digital investments.

EPAM makes GenAI real with its AI LLM orchestration, testing, and engineering solutions, EPAM DIAL, EPAM EliteA™, and EPAM AI/RUN™, respectively. The company delivers globally but engages locally with its expert teams of consultants, architects, designers, and engineers, making the future real for its clients, partners, and people around the world. EPAM believes the right solutions are the ones that improve people's lives and fuel competitive advantage for its clients across diverse industries. The company’s thinking comes to life in the experiences, products, and platforms it designs and brings to market.

Added to the S&P 500 and the Forbes Global 2000 in 2021 and recognized by Glassdoor and Newsweek as a Top 100 Best Workplace, EPAM’s multidisciplinary teams serve customers across six continents. The company is proud to be among the top 15 companies in Information Technology Services in the Fortune 1000 and to be recognized as a leader in the IDC MarketScapes for Worldwide Experience Build Services, Worldwide Experience Design Services, and Worldwide Software Engineering Services, as well as a leader in the 2024 Gartner® Magic Quadrant™ for Custom Software Development Services, Worldwide.*

The acquisition is subject to customary closing conditions, including the receipt of necessary regulatory clearances, and is expected to close in the fourth quarter of 2024.

* Gartner does not endorse any vendor, product, or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.