In 2006, EPAM Systems received $25 million investment from private equity firm Siguler Guff & Company.

EPAM was founded in 1993 and merged with a U.S./Russian software development outsourcing company Vested Development, Inc. (VDI).

EPAM maintains U.S. headquarters in Lawrenceville, NJ, and European headquarters in Budapest, Hungary, as well as support and delivery operations in the U.K. and Germany. The company employs over 4,000 software developers in Russia, Belarus, Hungary, and Ukraine. Its major clients include SAP, BEA Systems, Microsoft, Oracle, Reuters, and Colgate-Palmolive.

EPAM recently acquired Plusmicro in Kazakhstan and B2BITS Corp.

Da Vinci Capital Management, which has $250 million of assets under management, is 50% - 50% joint venture between Oleg Jelezko and BSG.  The join venture was formed in the summer of 2007. Oleg Jelezko was previously head of the Equity Structured Products Group within Renaissance Capital. BSG is a privately held international investment group with over 30 years experience investing in global capital markets, real estate, commodities, precious metals, and oil and gas.

EPAM Systems, which was founded in 1993, reported revenues of $115 million in 2007. EPAM maintains U.S. headquarters in Lawrenceville, NJ, and European headquarters in Budapest, Hungary, as well as support and delivery operations in the U.K. and Germany. The company employs over 4,000 software developers in Russia, Belarus, Hungary, and Ukraine. Its major clients include SAP, BEA Systems, Microsoft, Oracle, Reuters, and Colgate-Palmolive.

EPAM Systems received $25 million investment from private equity firm Siguler Guff & Company in 2006.

Plusmicro, which was founded in the city of Karaganda in 1987, employs more than 80 software engineers. The company, which sells the Luca accounting and ERP software, has developed the taxation information system in Kazakhstan.

Update: Today EPAM Systems also acquired B2BITS Corp., a provider of software solutions and consulting services to capital markets organizations for an undisclosed amount, reported Private Equity HUB. Back in 2006, EPAM merged with a U.S./Russian software development outsourcing company Vested Development, Inc. (VDI).

Versita was launched in 2001. The company publishes scientific electronic journals and provides content publishers with electronic publishing technology solutions.

Versita distributes its publications globally in partnership with a leading international scientific publisher Springer.

In the beginning on 2007, Verysell raised $50 million from Renaissance Pre-IPO Fund, Steep Rock Capital, Mint Capital, and RP Explorer Fund. Verysell Group is controlled by its management. It is expected that Verusell will go IPO in 2009.

The group reported gross sales of $470 million in 2006, including $244 million from systems integration and consulting services and $226 million from IT distribution services.

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The merger of IBS and Borlas Consulting Group, which was completed on October 29, created the leading provider of IT services in Russia with consolidated revenues of $370 million in 2006. The merged company IBS was formed through a share swap with 77% and 23% of shares held by IBS Group and Borlas shareholders, respectively. The merger was first announced in April 2007.

IBS is part of IBS Group that includes PC manufacturer Depo Computers and Russia’s largest provider of high-end IT outsourcing and software development services Luxoft.

According to IDC research, IBS holds 7% of the Russian IT services market valued at $3 billion in 2006 and over 20% of the business applications implementation segment. The total headcount of IBS is over 3,500 employees including 1,500 certified consultants.

In December 2005, IBS Group completed a $109 million private placement of its ordinary shares in the form of Global Depository Receipts (GDRs). In February 2007, GDRs were listed and began trading on the Frankfurt Stock Exchange.