NEWTOWN, PA — EPAM Systems Inc. (NYSE: EPAM) announced that it has entered into an accelerated share repurchase agreement with Morgan Stanley & Co. LLC to buy back $300 million of its common stock.
The repurchase is being conducted under the company’s existing $1.0 billion share repurchase authorization, according to the announcement.
Under the agreement, EPAM will pay Morgan Stanley $300 million and initially receive 1,703,336 shares of its common stock, valued at about $240 million based on the company’s closing share price on Tuesday.
The final number of shares repurchased will be determined when the program concludes, which is expected no later than the second quarter of 2026.
The total shares acquired will be based on the volume-weighted average price of EPAM’s stock during the term of the agreement, subject to a discount and other adjustments outlined in the contract.
Chief Executive Officer and President Balazs Fejes said the share repurchase reflects the company’s view of its long-term business prospects.
“Our accelerated repurchase program demonstrates our confidence in EPAM’s long-term outlook and our ability to generate sustained growth,” Fejes said.
After the transaction, EPAM will have about $452.5 million remaining under its current share repurchase authorization.
EPAM Systems provides digital engineering, software development, and consulting services to global companies.
The company works with large enterprises and startups on technology modernization, software platforms, and digital transformation initiatives.
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