Lawrenceville, NJ -- (ReleaseWire) -- 06/20/2007 -- EPAM Systems, Inc., the leading global offshore software engineering provider with development centers in Central and Eastern Europe, has been rated among North America's largest IT solution providers, integrators and services companies by CMP Technology's VARBusiness magazine. Assessed by the gross worldwide revenue to be included in the definitive VARBusiness 500 listing, EPAM has been honored with the "Top Technology Practices Award for Business Intelligence Software" at the 7th Annual VARBusiness 500 Conference and Awards event.

The VARBusiness 500 companies were selected based on 2006 fiscal year revenue generated by the sale of IT goods (software and hardware), software licensing, custom software sales, as well as professional services and managed services with the combined annual revenue making up $344 billion. The financial data of the reviewed companies was vetted and cross-checked against independent sources, including Hoovers and Dun & Bradstreet.

For the first time in its 12-year history the 2007 VARBusiness 500 has welcomed a record number of newcomers – 113. Ranked 281 for its first year on the list, EPAM has also been included in the 50 Fastest-Growing 2007 VARBusiness 500 Companies, demonstrating rapid growth with a 2005 to 2006 revenue increase of 75.0%.

The VARBusiness 500 has been accompanied by a special research conducted among the companies, nearly 55 percent of which provided detailed account of their technology focus, peer and vendor partnerships, growth opportunities, staffing trends, and vertical specializations.

"Current technology and market drivers are resulting in exponential increases in the volume of data that corporations need to leverage to their advantage. It is ever more critical that these organizations have timely and effective means to store, manage, and report on this data, so it can truly be used as "Business Intelligence," noted Arkadiy Dobkin, EPAM CEO and President. "This award is a further testament to EPAM's BI and KM capabilities that deliver tangible results to many clients across North America and Europe. We are proud to be recognized among top services providers in this area."

About VARBusiness

For the past 20 years, VARBusiness' strategic resources have been the gateway to the commercial and public sector (or government) Solution Provider community. The VARBusiness integrated platform of media opportunities provides strategic insight for technology integrators through industry-defining research, in-depth editorial, channel events and innovative Web services, enabling these IT professionals to make educated decisions for their businesses, partnerships and customers. VARBusiness offerings lead vendors and distributors to unprecedented access to the most powerful strategic Solution Providers in the market. VARBusiness has been the recipient of numerous industry awards for both editorial content and design.
http://www.varbusiness.com

About EPAM Systems

Founded in 1993, EPAM Systems is independently recognized as a global service provider that demonstrates leadership, innovation and outstanding performance in software development outsourcing. In 2006 EPAM was selected No.1 of "Top 10 ITO Offshore: Eastern/Central Europe" and No.3 of the global "Top 10 ITO: Specialty Application Development" within the "Top 50 Best Managed Outsourcing Vendors" study. In April 2007, EPAM was rated the top Eastern European ITO service provider within "The 2007 Global Outsourcing 100" and included in the Leaders category as the only regional IT outsourcer.

The company possesses the largest resource pool in Central and Eastern Europe and boasts the strongest onsite presence in the US and EU: its offshore software development centers located across Russia, Hungary, Belarus, and Ukraine work in synergy with the client facing support and delivery operations in US, UK and Germany.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, William Hill, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, BEA Systems, Microsoft, and Hyperion.
http://www.epam.com