The service company Digital transformation and product engineering EPAM Systems announced that it reached an agreement to acquire Neoris, a global technology consultancy Miami-based advanced technology company with more than 4,700 professionals spread across Latin America, Spain and the United States.
The sellers are funds managed by Advent Internationall, one of the largest international private equity investors, and Cemex, a global building materials company.
The company reported that Neoris and Cemex They hope to continue collaborating to strengthen Cemex’s leadership in providing a superior customer experience through digital technologies.
On the other hand, Advent has significant experience in the Business Services industry, having invested in 90 companies worldwide. This investment marks Advent’s fifth investment in the IT services space.
Neoris specializes in delivering complex digital transformation projects for clients in the Americas and Europe, across diverse industries including Manufacturing, Banking, CPG and Retail, Telco and Media, among others.
They leverage their software development and technology consulting expertise across multiple domains including Digital Experience, Engineering, SAP, Data, Analytics, ML & AI, Interactive UX, Digital Strategy and Enterprise Architecture.
The Latin American market as a new expansion target
“Neoris’ commitment to engineering quality standards, innovation and a high level of customer engagement, combined with their deep experience in our key industry segments, makes them the ideal partner for us,” said Arkadiy Dobkin, CEO and President of EPAM.
“This combination will significantly strengthen our presence in LATAM as we continue to enhance our differentiated delivery capabilities in Europe, India and APAC,” he added.
The incorporation of Neoris will create a market offering for clients in Latin America and in Spanish and Portuguese speaking marketsexpanding EPAM’s global and nearshore capabilities in North America and Europe.
“We are excited by the opportunities this acquisition brings. Partnering with EPAM allows us to Leading the global wave of digital transformation “as we continue to deliver exceptional technology solutions to our customers,” said Martin Mendez, CEO of Neoris.
“Together, we will accelerate technology and business transformation solutions for our now even more diversified client portfolio,” he added.
“Cemex founded Neoris more than 20 years ago and led it to become a global leader in technology consulting,” said Fernando Gonzalez, CEO of Cemex. “We are proud of his track record and the role he has played in Cemex becoming a leader in the technology industry.” a pioneer in digital technologies. We look forward to continuing our collaboration with the newly combined team. This transaction is part of Cemex’s efforts to focus on its core businesses and aligns with our acquisition and portfolio rebalancing strategy,” he concluded.
Source: Ambito
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