Who Owns EPAM?

Arkadiy Dobkin and Leo Lozner founded EPAM in 1993, splitting the operation between New Jersey and engineering talent in Minsk, Belarus. The founding insight was that highly trained Eastern European engineers could deliver software for Western clients at a fraction of domestic cost, an offshore model then in its infancy.

Through the late 1990s and 2000s EPAM won work from American and European companies needing custom engineering rather than staff augmentation. It expanded delivery centers across Belarus, Russia, Ukraine, and other Central European locations and differentiated on engineering rigor, winning complex platform builds for software companies, banks, and media firms.

The company went public on the NYSE in February 2012, one of the first Eastern European-rooted IT services firms to list in the United States. A decade of expansion followed: acquisitions added design (Continuum, 2018), content and agency capabilities (Emakina, 2021), and consulting depth, while headcount climbed past 40,000 engineers.

Russia's 2022 invasion of Ukraine forced a historic restructuring. EPAM evacuated and relocated tens of thousands of employees and contractors out of Russia, Belarus, and affected Ukrainian locations, exiting Russia entirely within months and rebuilding delivery in Poland, India, Latin America, and Central Asia. The relocation cost the company materially but preserved its delivery base.

Recovery came through geographic diversification and acquisition. The 2024 purchases of NEORIS, a Latin American digital consultancy, and First Derivative, a capital markets technology specialist, added thousands of professionals and new vertical depth. Fiscal 2025 revenue reached $5.46 billion, up 15.4 percent, with financial services the largest vertical at 24 percent of revenue and AI-related engineering work driving demand across the portfolio.