UBS Signs Strategic Multi-Year Agreement With EPAM to Boost Innovation
(Thomson Reuters ONE) -
NEWTOWN, Pa., Jan. 17, 2017 (GLOBE NEWSWIRE) -- EPAM Systems, Inc. (NYSE:EPAM),
a leading global provider of product development and software engineering
solutions, today announced that UBS AG, the world's largest wealth manager, has
signed a multi-year strategic framework agreement. For the past nine years, UBS
and EPAM have collaborated to stay at the forefront of technology, positioning
UBS as a global leader in innovative financial products and services. The
agreement, which is valued at over $300M, supports the bank's strategic cost
reduction program. This commitment to efficiency allows EPAM to continue to
focus on innovative, end-to-end solutions, reducing time-to-market and improving
ROI on technology investments.
"Over the past nine years, EPAM has become a key supplier in helping us meet our
clients' expectations by working closely together with UBS, while maintaining
commitments to productivity and quality of delivery," said Mike Dargan, Group
Head of Information Technology, UBS. "We now look forward to evolving this
valued relationship further over the coming years."
"The wave of innovation and regulatory changes in the financial services
industry has created significant opportunities and challenges. Throughout our
long-standing relationship with UBS, we helped them push innovation to drive
growth and develop scalable platforms, leveraging our digital design and wealth
management expertise and quickly respond to regulatory and market changes," said
Balazs Fejes, Sr. Vice President, Co-Head of Global Business, EPAM. "For us,
this multi-year agreement with a global financial services leader clearly
demonstrates EPAM's capabilities in the marketplace."
The partnership between UBS and EPAM spans almost nine years, 10 countries and
three continents. In addition to the many business solutions that EPAM has
provided during this relationship, innovation will be a large focus throughout
this multi-year deal.
About EPAM Systems
Since 1993, EPAM Systems, Inc. (NYSE:EPAM), has leveraged its core engineering
expertise to become a leading global product development and digital platform
engineering services company. Through its 'Engineering DNA' and innovative
strategy, consulting, and design capabilities, EPAM works in collaboration with
its customers to deliver innovative solutions that turn complex business
challenges into real business opportunities. EPAM's global teams serve customers
in over 25 countries across North America, Europe, Asia and Australia. EPAM is a
recognized market leader among independent research agencies and was ranked #8
in FORBES 25 Fastest Growing Public Tech Companies, as a top information
technology services company on FORTUNE'S 100 Fastest Growing Companies, and as a
top UK Digital Design & Build Agency. Learn more at http://www.epam.com/ and
follow us on Twitter (at)EPAMSYSTEMS and LinkedIn.
About UBS
UBS provides financial advice and solutions to wealthy, institutional and
corporate clients worldwide, as well as private clients in Switzerland. The
operational structure of the Group is comprised of our Corporate Center and five
business divisions: Wealth Management, Wealth Management Americas, Personal &
Corporate Banking, Asset Management and the Investment Bank. UBS's strategy
builds on the strengths of all of its businesses and focuses its efforts on
areas in which it excels, while seeking to capitalize on the compelling growth
prospects in the businesses and regions in which it operates, in order to
generate attractive and sustainable returns for its shareholders. All of its
businesses are capital-efficient and benefit from a strong competitive position
in their targeted markets. www.ubs.com
Forward-Looking Statements
This press release includes statements which may constitute forward-looking
statements made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, the accuracy of which are necessarily subject to
risks, uncertainties, and assumptions as to future events that may not prove to
be accurate. Factors that could cause actual results to differ materially from
those expressed or implied include general economic conditions and the factors
discussed in our most recent Annual Report on Form 10-K and other filings with
the Securities and Exchange Commission. EPAM undertakes no obligation to update
or revise any forward-looking statements, whether as a result of new
information, future events, or otherwise, except as may be required under
applicable securities law.
CONTACT: Danielle Ruess-Saltz
M: 267.978.7688
danielle_ruess-saltz(at)epam.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: EPAM Systems, Inc via GlobeNewswire
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