VTB Capital has closed a minority stake acquisition in EPAM Systems, a global software engineering and IT consulting provider with delivery centers throughout Central and Eastern Europe and headquarters in the USA, which was established in 1993.
Over 90% of the company’s staff are based in Russia and Belorussia. EPAM Systems’ CEO is Arkadiy Dobkin, while the largest shareholder is private equity firm, Russia Partners managed by Drew J Guff.
“Our investment in EPAM is another incremental step in executing the VTB Capital’s strategy to expand asset management business by investing in private companies," says Yuri Soloviev (pictured), Global CEO and President at VTB Capital. "This transaction is further proof that Russia and the CIS have attractive investment sectors in addition to the traditional natural resources.”
