Offshore software developer with Belarusian roots EPAM Systems will pay $ 55.5 million for the American company Continuum. As noted by CNews, the transaction was completed in March 2018, but the amount has not been disclosed until that time. The deal is called the largest in the history of EPAM.
According to the EPAM documents, at the time of the acquisition, $ 52.5 million was paid for Continuum. $ 5.4 million of this amount was transferred by an independent third party – an escrow agent, another $ 3.1 million – within a year after the transaction.
The total amount of the transaction, writes CNews, for the purchase of Continuum will be up to $ 55.6 million, of which $ 8.5 million are deferred obligations.
Continuum works with clients in healthcare, financial services, travel, hospitality and retail products and specializes in product design.