M&A Deal Summary

EPAM Systems Acquires test IO

On July 1, 2019, EPAM Systems acquired information technology company test IO from Turn/River Capital

Acquisition Highlights
  • This is EPAM Systems’ 5th transaction in the Information Technology sector.
  • This is EPAM Systems’ 9th transaction in the United States.
  • This is EPAM Systems’ 1st transaction in California.

M&A Deal Summary
Date 2019-07-01
Target test IO
Sector Information Technology
Buyer(s) EPAM Systems
Sellers(s) Turn/River Capital
Deal Type Add-on Acquisition

Target

test IO

San Francisco, California, United States
testIO is a test management system to set up explorative and test case-based testing in just a few minutes. They have a large group of international testers providing coverage across all devices.

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Buyer(S) 1

Buyer

EPAM Systems

Newtown, Pennsylvania, United States
Category Company
Founded 1993
Sector Software
Employees53,150
Revenue 4.7B USD (2023)
DESCRIPTION

EPAM Systems is a provider of digital engineering, cloud, and AI-enabled transformation services, as well as a business and experience consulting partner for global enterprises and ambitious startups. EPAM Systems was incorporated in 1993 and is based in Newtown, Pennsylvania.

DEAL STATS #
Overall 14 of 28
Sector (Information Technology) 5 of 12
Type (Add-on Acquisition) 14 of 28
State (California) 1 of 1
Country (United States) 9 of 14
Year (2019) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-01 TH_NK

Newcastle upon Tyne, United Kingdom

Think Ltd. is a hybrid marketing and IT organization headquartered in London, with additional offices in Newcastle and Liverpool. Think was founded in 2004 and is based in is based in Newcastle upon Tyne, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-02 Competentum USA

New York, New York, United States

Competentum USA Ltd. is a provider of full-stack educational content services company, and its learning platform, ShareKnowledge. Competentum focuses primarily on developing and optimizing educational solutions, with digital learning platforms and services that are pre-integrated to provide a smartly designed, interactive and AI-optimized learner experience. Competentum USA Ltd. was founded in 1993 and is based in New York City.

Buy -

Seller(S) 1

SELLER

Turn/River Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2012
Size Small
Type Sector Focused
DESCRIPTION

Turn/River is a private investment firm that specializes in growth capital investments, buyouts, spin-outs, and recapitalizations of small-scale technology, web and Saas companies. The Firm has a particular interest in bootstrapped companies. Turn/River Capital is based in San Francisco, California.

DEAL STATS #
Overall 5 of 8
Sector (Information Technology) 1 of 1
Type (Add-on Acquisition) 3 of 5
State (California) 3 of 4
Country (United States) 5 of 7
Year (2019) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-01 Pathwire

San Antonio, Texas, United States

Pathwire empowers companies around the world to solve complex communication problems. Through its powerful email API and intuitive email marketing solutions, Pathwire delivers over 250 billion emails a year for companies like DHL, Wikipedia, Toast, Lyft, and Microsoft. The company provides reliable, cloud-native infrastructure, local expertise, and smart solutions based on machine learning so companies can more easily reach their customers and build connected experiences. Pathwire is based in San Antonio, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-14 ASCI

Morristown, New Jersey, United States

ASCI is a provider of ActiveBatch software, which helps organizations centralize their business and IT processes in one solution. ASCI enables companies to reduce costs, both by eliminating human error and by allowing them to redeploy resources into more high-value tasks. ASCI is based in Morristown, New Jersey.

Buy -
Mergr

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