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Digital transformation company EPAM Systems has completed its acquisition of First Derivative, the Northern Ireland-based capital markets consulting firm with 1,800 employees worldwide.
First Derivative provides managed services and consulting for the capital markets industry, specialising in application development, real-time data platforms, robotic process automation, machine learning and artificial intelligence. The company has major delivery operations in the UK, Ireland, North America and Asia-Pacific.
Balazs Fejes, President of Global Business and Chief Revenue Officer at EPAM, said: "This partnership brings together EPAM's digital, AI, cloud and engineering capabilities with First Derivative's expertise in financial services. Whilst First Derivative has historically been a key player in financial services and capital markets, we see significant opportunity to apply First Derivative's specializations in regulated industries and implementations of specialized commercial software solutions to our wider customer base."
David Collins, CEO, First Derivative,
David Collins, CEO of First Derivative, said: "We are pleased to officially join forces with EPAM, a partner whose commitment to technological innovation aligns perfectly with our vision. Together, EPAM and First Derivative offer strengthened financial services to clients, empowering operational insights, driving innovation and more effectively managing risk in an increasingly data-driven landscape."
Stone Key Partners LLC acted as financial advisor and Faegre Drinker as legal advisor to EPAM for the transaction. Financial terms were not disclosed.
EPAM Systems, listed on the NYSE, provides digital engineering and AI-enabled transformation services. The company was added to the S&P 500 and Forbes Global 2000 in 2021.
