EPAM Buys Competentum to Expand into Publishing and Edtech

Mergers and Acquisitions

EPAM Buys Competentum to Expand into Publishing and Edtech

Jul 9, 2019

SHARING IS CARING: EPAM Systems, a publicly traded Newtown, Pa.-based provider of digital platform engineering and software development services, has purchased Competentum, the educational content services company behind the ShareKnowledge learning platform. Terms of the deal were not disclosed.

Both companies were founded in 1993. EPAM bought Competentum to extend services to the media, publishing and education technology industries, according to a statement earlier this month. ShareKnowledge will join EPAM’s suite of governance, compliance and enterprise risk engagements services.

According to EPAM’s latest quarterly earnings, the company had $763 million in cash and cash equivalents as of March 31. It posted $61 million in net income for that quarter. The company made two acquisitions last year outside of education technology and claims to have helped publisher Wiley grow year-over-year mobile revenue by 70 percent.

Competentum, based in New York, counts among its clients Wiley, Pearson, Cengage and McGraw-Hill. It has nine patented products and previously bought Mobile Learner Labs in 2014.

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