CloudFrame’s Intelligent COBOL Transformation Platform is Bolstered by Enhanced Partnership and Investment from EPAM

CloudFrame has advanced their strategic partnership with EPAM, with an eye towards accelerating enterprise modernization efforts and furthering collaboration that takes advantage of evolving technologies in GenAI 

Princeton, N.J., USA, May 14, 2024: CloudFrame, a pioneering company specializing in mainframe application modernization solutions, further strengthens its market position today by announcing a strategic investment from EPAM Systems, Inc., a leading digital transformation services and product engineering company. This strategic investment underscores the collaborative and synergistic relationship between EPAM and CloudFrame, which has resulted in the successful delivery of numerous application modernization projects to Forbes 1000 enterprises.

Today’s announcement follows the two companies announcing their initial strategic partnership in June 2023 [Partner Announcement] and seeks to leverage several successful joint client programs. As part of the new investment, EPAM will join the CloudFrame Board of Directors.

EPAM’s Mainframe Modernization team will utilize CloudFrame products to accelerate the movement of mainframe workloads to the cloud by leveraging application transformation and migration strategies that can incorporate the benefits of CloudFrame transformation software along with the capabilities of Generative AI to speed and scale migrations for the enterprise.

"Our partnership with EPAM has been instrumental in bringing our modernization solutions to some of the world's largest and most complex enterprises," said Venkat Pillay, CEO of CloudFrame. "With this investment, we are poised to further innovate and extend our reach, creating even greater value for our clients. The collaboration between our teams has proven that together, we can tackle the toughest modernization challenges and deliver outstanding outcomes."

Since last year's partnership, CloudFrame and EPAM have worked together on multiple high-profile engagements, in industries as wide-ranging as telecommunications, banking, financial services, insurance and travel, achieving remarkable success in helping large enterprises modernize their legacy mainframe applications. By leveraging the CloudFrame-EPAM partnership, our clients are now experiencing reduced costs, shortened project durations, and diminished modernization project risk.

“Together with CloudFrame, we are empowering our customers with automated, incremental and cost-effective pathways to transform their vital applications into fully supportable, cloud-native Java environments,” said Deric Lubin, Chief Technologist, Platform Modernization at EPAM.  “Today’s investment marks yet another important milestone in our commitment to helping our clients embark on their cloud transformation journey, while minimizing risks and maximizing efficiency. We are excited about the endless possibilities this collaboration brings and look forward to delivering unparalleled value to our clients.”

Discover how EPAM helps customers solve cloud complexity from the inside out: https://www.epam.com/services/cloud.

About EPAM Systems

Since 1993, EPAM Systems, Inc. (NYSE: EPAM) has used its software engineering expertise to become a leading global provider of digital engineering, cloud and AI-enabled transformation services, and a leading business and experience consulting partner for global enterprises and ambitious startups. We address our clients’ transformation challenges by fusing EPAM Continuum’s integrated strategy, experience and technology consulting with our 30+ years of engineering execution to speed our clients’ time to market and drive greater value from their innovations and digital investments.

We deliver globally but engage locally with our expert teams of consultants, architects, designers, and engineers, making the future real for our clients, our partners, and our people around the world.

We believe the right solutions are the ones that improve people’s lives and fuel competitive advantage for our clients across diverse industries. Our thinking comes to life in the experiences, products and platforms we design and bring to market.

Added to the S&P 500 and the Forbes Global 2000 in 2021 and recognized by Glassdoor as a Best Workplace in 2023 and 2024, our multidisciplinary teams serve customers across six continents. We are proud to be among the top 15 companies in Information Technology Services in the Fortune 1000 and to be recognized as a leader in the IDC MarketScapes for Worldwide Experience Build Services, Worldwide Experience Design Services and Worldwide Software Engineering Services as well as a leader in the 2023 Gartner^® Magic Quadrant^™ for Custom Software Development Services, Worldwide.^*

Learn more at www.epam.com and follow us on LinkedIn.

^* Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About CloudFrame

CloudFrame is a leading provider of mainframe application modernization solutions. The company's unique technology platform enables enterprises to transform complex legacy applications into modern, agile architectures. CloudFrame's solutions help organizations reduce costs, eliminate technical debt, improve operational flexibility, and unlock new business opportunities.

Learn more at www.cloudframe.com and follow us on LinkedIn.