NEWTOWN, Pa., Dec. 14, 2021 /PRNewswire/ -- The fast-paced change of today's media landscape and the hyper competition for consumer eyeballs, is intensifying the need for media and entertainment companies to stay ahead of the game through digital transformation and innovative technologies. To help these organizations adapt, stay competitive and provide better customer experiences, EPAM Systems Inc. (NYSE: EPAM), a leading digital transformation services and product engineering company, today announced the acquisition of Optiva Media, a niche professional services firm that provides product development and digital services to leading media companies.
"We're pleased to welcome Optiva Media to EPAM. The combination of EPAM's digital technology and product engineering expertise with Optiva Media's platforms and accelerators will create a complete and valuable end-to-end delivery capability in the media and entertainment space," said Balazs Fejes, President of EU and APAC Markets at EPAM. "Optiva Media brings an expanded understanding of the vertical domain as well as a proven track record in executing the necessary components of core media and entertainment transformational programs—from research and consultancy, to engineering operations, media and metadata management, as well as product design and deployment. Together, we will provide world-class, scalable solutions for media companies, enabling them to better innovate products, services and deliver new experiences."
With more than 18 years of industry experience, Optiva Media is a cutting-edge media and telecommunications leader with an expertise in engineering, operations, media and metadata management, product design and development, research, and technical consultancy. Optiva Media launched the first video-on-demand (VoD) system in Europe for ONO in 2008, the first over-the-top (OTT) streaming platform in Europe in 2011, and serves a host of clients including HBO, Vodafone, Telefonica, and Orange. Optiva Media's industry specific products and accelerators also provide deep knowledge in media and virtual reality components including Media Stream, XStream, Qaltiva and Virtual Xpanse.
"With Optiva Media's strong technology partnerships and agile mindset, there is already a strong connection with EPAM's Engineering DNA and passion for building creative solutions that deliver business value and innovative experiences," said Cristina Garcés, Founder and CEO of Optiva Media. "Joining the EPAM family gives us an even wider coverage of the entire value chain of digital television, from what is imagined to what reaches the screens of viewers worldwide. Together, we can deliver everything needed at the convergence point between technology and content," added Valia Merino, Chairman and Managing Partner of Optiva Media.
Dentons Europe acted as legal counsel and Ernst & Young Spain served as Tax and HR advisors to EPAM in the acquisition of Optiva Media. Toda & Nel-lo acted as legal counsel and HR advisors and Abanca served as financial advisors to Optiva Media on the transaction.
Learn more about EPAM's media, entertainment, and telecom expertise, visit www.epam.com/our-work/media-entertainment-and-telecom.
About EPAM Systems
Since 1993, EPAM Systems, Inc. (NYSE: EPAM) has leveraged its advanced software engineering heritage to become the foremost global digital transformation services provider – leading the industry in digital and physical product development and digital platform engineering services. Through its innovative strategy; integrated advisory, consulting, and design capabilities; and unique 'Engineering DNA,' EPAM's globally deployed hybrid teams help make the future real for clients and communities around the world by powering better enterprise, education and health platforms that connect people, optimize experiences, and improve people's lives. Selected by Newsweek as a 2021 Most Loved Workplace, EPAM's global multi-disciplinary teams serve customers in more than 40 countries across five continents. As a recognized leader, EPAM is listed among the top 15 companies in Information Technology Services on the Fortune 1000 and ranked as the top IT services company on Fortune's 100 Fastest-Growing Companies list for the last three consecutive years. EPAM is also listed among Ad Age's top 25 World's Largest Agency Companies and in 2020, Consulting Magazine named EPAM Continuum a top 20 Fastest-Growing Firm. Learn more at www.epam.com and follow us on Twitter and LinkedIn.
About Optiva Media
Since 2002, Optiva Media supports worldwide leading TV and media companies delivering outstanding user experiences, offering services and solutions along the full value chain including product, project, Integration, and operations journey. Optiva's passion about TV and our expertise working with breakthrough digital and communication technologies, including AI, ML, VR, Big Data, 5G, LiFi and cloud, has attracted top companies such as Telefónica, Vodafone, Orange, Liberty Global, Sky and TiVo. Innovation is at the very heart of Optiva Media, having been granted a National Innovative Company Award. An obsession with equity, inclusion, and diversity has been recognised by the National Stela Award and others. Learn more at www.optivamedia.com or follow via LinkedIn.
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.
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SOURCE EPAM Systems, Inc.
Amber Rasmussen, O: +1-971-337-9648, E: Amber_Rasmussen@epam.com