A software development company, also called a software engineering services firm, designs, builds, tests and maintains custom software for clients, either on a project basis or through dedicated teams. Unlike general IT outsourcers, these firms earn most of their revenue from engineering work rather than infrastructure management or business-process outsourcing.
This list covers ten established engineering-led companies that publish verifiable size data. It ranks them by most recently disclosed headcount, from EPAM, with about 62,850 employees at the end of 2025, to Kainos, with 3,475. Revenue is shown for each company in its reporting currency and for its own fiscal year.
Contents
- Types of software development companies
- Market conditions in 2025–2026
- Methodology
- The list
- Comparison table
- Selecting a software development partner
- Frequently asked questions
- See also
Types of software development companies
Firms in this market fall into three broad groups. Large engineering services companies such as EPAM, Globant and Persistent run benches of tens of thousands of engineers and take on multi-year programmes. Mid-size specialists such as Grid Dynamics or Kainos concentrate on particular technologies or sectors, for example data and search engineering, or Workday and public-sector services. Consultancy-led firms such as Thoughtworks pair delivery with advice on engineering practice and organisational change.
Delivery models also differ. Nearshore firms place teams in time zones close to the client: Globant in Latin America for North American clients, Endava and SoftServe in Central and Eastern Europe for European ones. Offshore firms deliver mainly from India. Most large firms now mix both.
Market conditions in 2025–2026
Results for 2025 show a split market. Persistent (17.4%), Grid Dynamics (17.5%) and Kainos (17%) reported double-digit revenue growth. Globant grew 1.6% and reported a fourth-quarter decline, and Endava's fourth-quarter revenue fell 3.9%. EPAM's 15.4% headline growth was mostly acquired; its organic constant-currency growth was 4.9%. Several companies now report AI-related revenue separately. Grid Dynamics, for example, put its AI revenue at more than US$90 million.
Methodology
Entries were limited to companies whose main business is custom software engineering and which publish a headcount figure, either in a regulated filing or on their own website. Diversified IT outsourcers whose revenue is dominated by infrastructure, business-process or consulting services (for example Accenture, Infosys or Capgemini) were excluded. So were divisions of larger groups that do not report separately.
Entries are ordered by the most recent headcount each company disclosed: year-end figures for listed companies, the company's own rounded statement where no dated figure exists (Persistent, Thoughtworks, SoftServe), and average full-time equivalents for Netcompany. Headcount was chosen over revenue because the companies report in four currencies and on different fiscal years. Revenue figures are as reported, without conversion. Headcount measures capacity, not quality, so the ranking is not a judgement of delivery quality.
The list
1
Largest pure-play software engineering firm in this list by headcount and revenue
Best for: Large, multi-year enterprise engineering programmes
EPAM Systems is a US-listed software engineering and digital platform services company headquartered in Newtown, Pennsylvania. It describes itself as having more than thirty years of experience in custom software, product and platform engineering. For calendar 2025 the company reported revenue of US$5.457 billion, up 15.4% year on year, although organic growth at constant currency was a much lower 4.9%, the difference being largely acquired revenue. At 31 December 2025 it employed about 62,850 people, of whom roughly 56,600 were delivery professionals, a 2.7% increase on a year earlier. That headcount is more than double that of any other firm in this list. GAAP operating income fell 4.5% to US$520.0 million in 2025 while non-GAAP operating income rose 6.7%, and management guided to 4.5%–7.5% revenue growth for 2026. EPAM's scale makes it a common choice for multi-year engineering programmes at large enterprises, and its delivery network was historically concentrated in Central and Eastern Europe.
- Headquarters
- Newtown, Pennsylvania, US
- Revenue (FY2025)
- US$5.457bn
- Employees
- c. 62,850 (Dec 2025)
- Listing
- NYSE: EPAM
Strengths
- Largest delivery bench in the list, with about 56,600 delivery professionals
- Reported revenue growth of 15.4% in 2025
Limitations
- Organic constant-currency growth was only 4.9% in 2025
- GAAP operating income declined 4.5% in 2025
2
Latin American-founded digital engineering company listed on the NYSE
Best for: Nearshore delivery for North American clients; consumer digital products
Globant is a digital engineering and software development company with its largest delivery base in Latin America; it is listed on the New York Stock Exchange. The company reported full-year 2025 revenue of US$2,454.9 million, growth of just 1.6% on 2024, and fourth-quarter revenue of US$612.5 million, a 4.7% decline year on year. It ended 2025 with 28,773 employees (it calls them "Globers"), of whom 26,906 were technology, design and innovation professionals, and it operates in more than 30 countries across five continents. The number of accounts generating over US$1 million a year fell from 346 to 336. Diluted IFRS earnings per share dropped from US$3.72 to US$2.29. For 2026 the company guided to revenue of US$2,460–2,510 million, implying growth of 0.2%–2.2%. Globant is often shortlisted for consumer-facing digital products, media and entertainment, and nearshore delivery to North American time zones.
- Revenue (FY2025)
- US$2,454.9m
- Employees
- 28,773 (Dec 2025)
- Countries
- 30+
- Listing
- NYSE: GLOB
Strengths
- Large design and engineering bench in Latin American time zones
- 336 clients each paying over US$1m a year
Limitations
- Revenue declined 4.7% year on year in Q4 2025
- 2026 guidance implies growth of at most 2.2%
3
PS
Indian engineering services firm with 17.4% revenue growth in FY26
Best for: Product engineering for software vendors; fast-growing mid-size partner
Persistent Systems is an Indian software engineering and digital services company; its results releases carry a joint Santa Clara, California and Pune, India dateline. For the fiscal year ended 31 March 2026 (FY26) it reported revenue of US$1,654.4 million, up 17.4% year on year, with fourth-quarter revenue of US$436.0 million, up 3.2% sequentially. Its company description states that it has more than 27,500 employees located in 18 countries. Persistent's growth rate was the highest among the firms in this list with more than 10,000 staff, and it reported an EBIT margin of 15.6% for the year. The board declared a full-year dividend of ₹40 per share. The company's work spans product engineering for software vendors, banking and healthcare platforms, and enterprise application modernisation.
- Revenue (FY26, to Mar 2026)
- US$1,654.4m
- Employees
- 27,500+
- Countries
- 18
- Listing
- NSE/BSE (India)
Strengths
- Revenue growth of 17.4% in FY26
- Reported EBIT margin of 15.6%
Limitations
- Revenue is concentrated in fewer countries (18) than EPAM or Nagarro
- Headcount figure is a rounded company statement rather than a dated disclosure
4
N
Frankfurt-listed digital engineering company operating in 38 countries
Best for: European clients needing multi-country presence
Nagarro is a digital engineering company listed on the Frankfurt Stock Exchange. Its audited FY2025 accounts, published in April 2026, show revenue of €999.3 million, up 2.8% from €972.0 million (6.1% in constant currency), and gross profit of €321.3 million. It reported 18,003 professionals at 31 December 2025 and describes itself as employing around 18,000 people in 38 countries, the widest country footprint among the firms listed here. The publication of the accounts followed an independent investigation, and net profit fell to €39.5 million from €49.2 million, partly because of a charge linked to new labour codes in India. Nagarro guided to FY2026 revenue of €1,000–1,060 million. The company is organised around industry verticals rather than a single delivery region, which suits clients that need on-site teams in several European markets.
- Revenue (FY2025)
- €999.3m
- Employees
- 18,003 (Dec 2025)
- Countries
- 38
- Listing
- Frankfurt (NA9)
Strengths
- Presence in 38 countries
- Constant-currency revenue growth of 6.1% in 2025
Limitations
- Net profit fell about 20% in 2025
- FY2025 reporting was delayed by an independent investigation
5
UK-founded engineering firm with nearshore centres in Central and Eastern Europe
Best for: Payments and financial-services engineering
Endava is a technology services company listed on the New York Stock Exchange that reports in pounds sterling and has a fiscal year ending 30 June. For FY2025 it reported revenue of £772.3 million, up 4.3% from £740.8 million (6.3% at constant currency), with adjusted profit before tax of £82.1 million and statutory profit of £21.2 million. Fourth-quarter revenue declined 3.9% to £186.8 million, and the company guided to a further constant-currency decline in the first quarter of FY2026. Headcount was 11,479 at 30 June 2025, down from 12,085 a year earlier, and the number of clients paying more than £1 million a year fell from 146 to 133. Endava has historically been strong in payments and financial services work and runs much of its delivery from Romania, Moldova, North Macedonia and other nearshore locations.
- Revenue (FY2025, to Jun 2025)
- £772.3m
- Employees
- 11,479 (Jun 2025)
- Listing
- NYSE: DAVA
Strengths
- Long specialisation in payments and banking technology
- Adjusted profit before tax margin of 10.6% in FY2025
Limitations
- Headcount and £1m+ client count both fell in FY2025
- Guided to a revenue decline for the first quarter of FY2026
6
Chicago-founded consultancy known for agile and continuous delivery practice
Best for: Engineering-practice change alongside delivery
Thoughtworks was founded in Chicago in 1993 and states that it has more than 10,000 employees working from 45 offices in 22 countries. The firm became widely known in software circles for its early advocacy of agile methods, continuous delivery and its periodic Technology Radar publication. After a period as a Nasdaq-listed company, it was taken private again by funds advised by Apax Partners in a deal announced in August 2024 that valued it at about US$1.75 billion, or US$4.40 per share; Apax was buying the shares it did not already own. As a private company Thoughtworks no longer publishes quarterly financial statements, so no current revenue figure is given here. Its typical engagements combine software delivery with organisational change, such as platform rebuilds, legacy modernisation and engineering-practice coaching.
- Founded
- 1993, Chicago
- Employees
- 10,000+
- Offices
- 45 in 22 countries
- Ownership
- Apax Partners funds (take-private announced Aug 2024)
Strengths
- Strong reputation for engineering practice and agile delivery
- Global footprint of 45 offices
Limitations
- No public financial reporting since the take-private
- Consulting-led model can be more expensive than pure delivery vendors
7
S
Ukrainian-founded software engineering firm now headquartered in Austin, Texas
Best for: Clients seeking a large Ukrainian engineering base
SoftServe was founded in 1993 in Lviv, Ukraine, and is now headquartered in Austin, Texas. According to its 2025 sustainability report announcement, it has about 10,000 specialists, around 7,000 of them in Ukraine, and operates in 17 countries with 16 offices in Ukraine. The company is privately held and does not publish audited revenue figures. Its continued operation through the war in Ukraine, with most staff still based in the country, is the defining feature of its delivery model and a point that clients typically address in business-continuity reviews. SoftServe works across software product development, cloud, data and AI engineering, and has long-standing partnerships with the major cloud providers.
- Founded
- 1993, Lviv
- Headquarters
- Austin, Texas, US
- Employees
- c. 10,000
- Countries
- 17
Strengths
- Large engineering base with long tenure in Eastern Europe
- Operates in 17 countries
Limitations
- Around 70% of staff are in Ukraine, a business-continuity consideration
- Private, with no published revenue
8
Danish IT services group focused on public-sector and banking platforms
Best for: Government and banking platforms in Northern Europe
Netcompany is a Copenhagen-listed IT services group that builds large software platforms for public-sector bodies and financial institutions in Northern Europe. In its 2025 annual report it reported organic revenue growth of 7.7% (7.9% at constant currency) to DKK 7,044.1 million; reported revenue grew 20.7%, of which 13 percentage points came from the merger of SDC A/S into Netcompany Banking Services. The average workforce rose to 8,929 full-time equivalents. The SDC deal took Netcompany into core-banking services for Nordic banks, and special items of DKK 355.3 million were booked in connection with that merger. The company's model favours fixed-scope delivery of government digital services and regulated systems over staff augmentation.
- Organic revenue (FY2025)
- DKK 7,044.1m
- Average FTEs (2025)
- 8,929
- Listing
- Nasdaq Copenhagen: NETC
Strengths
- Deep public-sector delivery record
- Organic growth of 7.7% in 2025
Limitations
- Business concentrated in a few Northern European markets
- DKK 355.3m of special items tied to the SDC merger
9
Silicon Valley engineering firm with a sizeable AI services line
Best for: Data, search and AI engineering for retail and tech companies
Grid Dynamics is a Nasdaq-listed digital engineering company headquartered in San Ramon, California. It reported 2025 revenue of US$411.8 million, up 17.5% from US$350.6 million, and said that revenue from AI work exceeded US$90 million, up 30% year on year. The company had 4,961 employees at 31 December 2025, up from 4,730. GAAP net income for the year was US$9.7 million. It guided to 2026 revenue of US$435–465 million. Grid Dynamics is usually engaged for data platforms, search and e-commerce engineering and machine-learning work at retail, technology and financial companies, and is smaller and more specialised than the large generalists above.
- Headquarters
- San Ramon, California, US
- Revenue (FY2025)
- US$411.8m
- Employees
- 4,961 (Dec 2025)
- Listing
- Nasdaq: GDYN
Strengths
- AI-related revenue above US$90m in 2025
- Revenue growth of 17.5% in 2025
Limitations
- Thin GAAP profitability (US$9.7m net income in 2025)
- Smaller bench than the generalist firms
10
Belfast-based digital services and Workday specialist
Best for: UK public-sector digital services and Workday programmes
Kainos is a Belfast-based software and digital services company listed on the London Stock Exchange, with a fiscal year ending 31 March. For FY26 it reported revenue of £431.1 million, up 17%, and annual recurring revenue in its Workday Products business up 23% to £89.0 million. Headcount rose by more than 20% to 3,475, including about 120 staff from the Canadian public-sector consultancy Davis Pier, whose acquisition completed in September 2025. Kainos combines a digital services practice, best known for UK government and NHS work, with a Workday partner practice and its own testing and security software for Workday customers. It is the smallest company in this list by headcount but one of the faster-growing.
- Headquarters
- Belfast, UK
- Revenue (FY26, to Mar 2026)
- £431.1m
- Employees
- 3,475
- Listing
- LSE: KNOS
Strengths
- Revenue growth of 17% in FY26
- Own Workday products alongside services
Limitations
- Smallest bench in the list
- Heavy reliance on UK public-sector demand
Selecting a software development partner
Frequently asked questions
What is the largest software development company?
Among pure-play software engineering services firms, EPAM Systems is the largest by both revenue and headcount. It reported 2025 revenue of US$5.457 billion and about 62,850 employees at the end of 2025. Diversified IT services groups such as Accenture or Tata Consultancy Services are larger overall, but most of their revenue comes from work other than custom software engineering.
How much does it cost to hire a software development company?
None of the firms in this list publishes a rate card. Pricing is quote-based and depends on the delivery location, seniority mix, contract model and duration. Time-and-materials contracts bill hourly or daily rates per role, and fixed-price contracts bundle a defined scope. Nearshore and offshore teams generally cost less per hour than onshore teams in North America or Western Europe.
What is the difference between nearshore and offshore software development?
Nearshore development uses teams in countries close to the client's time zone, for example Latin America for US clients or Central and Eastern Europe for Western European clients. Offshore development uses more distant locations, most often India, where costs are typically lower but there is less overlap in working hours. Large firms such as Globant, EPAM and Endava are known mainly for nearshore delivery.
Is SoftServe still operating in Ukraine?
Yes. SoftServe, founded in Lviv in 1993 and now headquartered in Austin, Texas, says about 7,000 of its roughly 10,000 specialists are in Ukraine, where it has 16 offices. Clients typically review its business-continuity arrangements, including teams in other countries, before signing large engagements.
Who owns Thoughtworks?
Thoughtworks is owned by funds advised by Apax Partners, a British private equity firm. In August 2024 Apax agreed to buy the shares it did not already own at US$4.40 each, valuing the company at about US$1.75 billion, which took it off the Nasdaq. Since then the company has not published public financial results.
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