What's the News: EPAM has acquired leading software integration and connectivity solutions provider, Ricston Ltd., to expand their growing consulting and engineering portfolio of API, microservices management and integration services.
Why it's important: EPAM's newly expanded capabilities in Application Programming Interface (API) and microservices will provide customers a proven approach to API strategy and delivery, expanding Mulesoft expertise and enriching EPAM's service offerings around the entire Salesforce ecosystem.
Who it affects: Enterprises considering or executing modernization and transformation programs.
EPAM Systems, Inc. (NYSE: EPAM), a leading global provider of digital platform engineering and software development services, today announced its acquisition of Ricston Ltd., with offices in the UK, Malta and Spain. Ricston adds to EPAM's extensive expertise in integration and connectivity — specifically in microservices and APIs — providing our customers with the ability to reinvent their businesses, innovate faster and stay ahead of their competition. This acquisition complements EPAM's technology consulting practice and further enhances its strong capabilities in API and microservices, as well as adding an integral component to the company's growing Salesforce practice.
"We are seeing significant demand for API and microservices skills post-COVID, as companies across our core vertical segments from Financial Services to Insurance to Software and High-tech are looking to incorporate modern architectures and proven integration know-how into their new and more agile business strategies," said Viktar Dvorkin, SVP & Head of Global Delivery, EPAM. "Ricston's strong EU-based technical leadership team, will bring deep expertise in Mulesoft, while enhancing our ability to design, architect, modernize and build across a spectrum of API and Salesforce-based business solutions."
Founded in 2006, and declared one of Europe's best companies according to the European Business Awards 'One to Watch' list, Ricston has made a name for themselves by providing best-of-breed integration solutions for global enterprises in many industries, including fintech, retail, e-commerce, media, travel, government and healthcare. Ricston also has a strong partnership with MuleSoft—acquired by Salesforce in 2018—and specializes in their Anypoint Platform™, one of the world's leading platforms for building application networks.
"Interoperability is going to play a crucial role for modern businesses of the future and using APIs and microservices will be the catalyst that drives success," said Mike Randall, CEO at Ricston. "We look forward to working with EPAM to extend their already established technology and vertical expertise to help enterprise organizations remain agile and competitive in a constantly shifting business landscape."
Ricston provides a variety of services to be able to help across the full cycle of digital transformation including legacy modernization, software integration, Open API and Centre for Enablement (C4E). They also provide training and operations for the Anypoint Platform™ as well as a dedicated team that builds connectors.
"COVID has created an urgent acceleration of digital transformation for all organisations who have found their markets disrupted, workforce dispersed and consumer behaviour change overnight", said Ross Mason, co-founder of Ricston and founder of MuleSoft. "The key to digital transformation is to enable every part of an organisation to leverage the Digital assets and capabilities already present in most organisations by implementing a new operating model between IT and the rest of the business. Ricston has been helping their customers make this transition, enabled by platforms like MuleSoft. With the combined scale and expertise of Ricston and EPAM, enterprises will have a proven and global consulting and technology partner, who can help them achieve their transformation goals."
About EPAM Systems Since 1993, EPAM Systems, Inc. (NYSE: EPAM) has leveraged its software engineering expertise to become a leading global product development, digital platform engineering, and top digital and product design agency. Through its 'Engineering DNA' and innovative strategy, consulting, and design capabilities, EPAM works in collaboration with its customers to deliver next-gen solutions that turn complex business challenges into real business outcomes. EPAM's global teams serve customers in more than 30 countries across North America, Europe, Asia and Australia. As a recognized market leader in multiple categories among top global independent research agencies, EPAM was one of only four technology companies to appear on Forbes 25 Fastest Growing Public Tech Companies list every year of publication since 2013 and was the only IT services company featured on Fortune's 100 Fastest-Growing Companies list of 2019. Learn more at www.epam.com and follow us on Twitter @EPAMSYSTEMS and LinkedIn.
About Ricston Ltd. Ricston Ltd. is an integration and connectivity service provider established in Malta in 2006. The company delivers IT services worldwide with its unique nearshore model and development teams in Malta and Spain along with a growing onshore team in the UK. Ricston specializes in Enterprise Integration Solutions, primarily architected and built on MuleSoft's Anypoint Platform™ – a leading platform for API-led connectivity that creates an application network of apps, data, and devices – both on-premises and in the cloud.
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.