Benzinga | Jul 27, 2021 11:19AM EDT

EPAM Systems Acquires CORE SE For Undisclosed Sum To Expand Western European Presence

* EPAM Systems Inc (NYSE:EPAM) acquired CORE SE, a professional service provider specializing in IT strategy and technology-driven transformations, for undisclosed financial terms.

* CORE is a technology think tank with office locations in Germany (Berlin), UAE (Dubai), UK (London), and Switzerland (Zurich).

* EPAM's acquisition of CORE SE will further expand its Western European footprint within the DACH region.

* "The acquisition of CORE SE is part of EPAM's strategy to respond to the growing business needs of our Western European-based clients to execute on their Technology Transformation agenda across various industries," said Balazs Fejes, President for EU and APAC Markets, at EPAM.

* CORE develops solutions based on market knowledge, in-depth technology expertise, and high methodological competence focusing on IT strategy, IT architecture, solution design, and software development.

* EPAM held $1.4 billion in cash and equivalents as of March 31, 2021.

* Price action: EPAM shares traded lower by 1.34% at $546.25 on the last check Tuesday.