EPAM to Acquire NEORIS: Strengthening Digital Transformation Presence in Latin America and Beyond

Digital engineering giant EPAM Systems has entered into an agreement to acquire NEORIS, signaling a major consolidation move in the enterprise technology consulting space. The deal, announced in September 2024, brings together two significant players in digital transformation services with complementary strengths across the Americas and Europe.

Who is NEORIS and Why Does This Matter?

NEORIS stands out as a Miami-based technology consultancy with over 4,700 professionals distributed across key talent hubs in Latin America, Spain, and the U.S. More importantly, the company has built deep expertise in complex digital engagement and transformation projects spanning multiple industries—from manufacturing and banking to consumer goods, retail, telecommunications, and media.

What makes NEORIS particularly attractive is its proven track record in specialized domains: digital experience design, enterprise engineering, SAP implementations, data and analytics, machine learning and AI applications, interactive user experience, digital strategy formulation, and enterprise architecture. With more than 20 years in operation and over 400 active clients globally, NEORIS has established itself as a formidable player in the tech consulting landscape, particularly as the first and only IT consulting company in Latin America to achieve SAP’s global services certification.

The Strategic Rationale

The acquisition addresses a clear gap in EPAM’s geographic and service delivery footprint. By integrating NEORIS’s capabilities, EPAM gains immediate access to expanded delivery capacity in Latin America—a region where demand for digital transformation services continues to accelerate. Simultaneously, the combined entity strengthens its position across Spanish and Portuguese-speaking markets, while enhancing nearshore delivery options for North American and European clients.

EPAM’s leadership views this combination as essential for staying competitive. The company emphasizes that NEORIS’s commitment to engineering quality, innovation, and client engagement, paired with their deep industry expertise, positions the merged organization to serve evolving market needs more comprehensively. The addition of thousands of professionals creates meaningful scale advantages in both talent availability and project execution capacity.

Deal Structure and Timeline

The transaction involves Advent International (a major global private equity firm with $94 billion in assets under management) and Cemex (the global construction materials company that founded NEORIS over two decades ago) as the primary sellers. Advent has significant experience in technology services investments, having participated in 90 business services companies worldwide, with this representing its fifth investment in IT services specifically.

The acquisition is expected to close by the end of 2024, subject to standard regulatory approvals and customary closing conditions.

Broader Industry Implications

This deal reflects a broader trend in the digital services sector: consolidation among firms seeking to build comprehensive, globally distributed capabilities. As enterprises increasingly demand end-to-end digital transformation solutions rather than point services, firms like EPAM are actively expanding their geographic reach and service depth through strategic acquisitions. NEORIS’s strong positioning in underserved Latin American markets and its specialized expertise in critical domains like AI and analytics make it a natural fit for a larger, globally-oriented player.

For clients and the market, the integration signals continued investment in building robust, innovative delivery capabilities across multiple geographies and industry verticals during a period of accelerating digital transformation spending.