UBS Signs Strategic Multi-Year Agreement With EPAM to Boost Innovation
January 17 2017 - 12:02PM
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 @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@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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