Headquartered in São Paulo, Iteris brings a talented group of
professionals together with an impressive portfolio of digital
transformation projects
NEW
YORK, Dec. 28, 2023 /PRNewswire/ --
Globant (NYSE: GLOB), a digitally native company focused on
reinventing businesses through innovative technology solutions,
today announced the acquisition of Iteris Holding Ltda., a
Brazilian business and technology consultancy focused on delivering
digital transformation. This acquisition enhances Globant's current
operations in Brazil by adding top
local digital capabilities and an impressive client roster.
Founded in 2009 in São Paulo, the Iteris team includes over 600
top professionals that develop end-to-end solutions across several
industries, such as payments & banking, manufacturing,
communications, education, retail, and healthcare for some of the
strongest brands in Brazil, such
as Fiserv, PagBank, Julius Baer,
Nubank, Nutrien, Globo, C&A, Reckitt, and Heineken, among
others.
"We are thrilled to welcome the Iteris team to the Globant
family. We're taking big steps in Brazil as we believe in the potential of this
market and this acquisition will involve significant growth to our
operations in that country. This expansion is an example of our
commitment to the region and its technological landscape to
continue offering a top-notch portfolio of services and products to
keep reinventing businesses," said Martín Migoya,
Co-Founder and CEO of Globant.
"We are proud of the successful track-record of Iteris in these
last years. We have consistently delivered high-quality services to
our beloved clients. We are sure that Globant is the best partner
to take our company to the next level, not only for them but also
for our colleagues. As from today, there will be more unique
reinvention opportunities for all," said Fernando Riva, Co-founder of Iteris.
During these 14 years, Iteris has been recognized as a leader
for three consecutive years in the Agile Application Projects and
Application Quality Assurance quadrants of the Next-Gen ADM
Services study provided by ISG Provider Lens™.
"Brazil is one of the top bets
for Globant in Latin America.
Globant already enjoys a strong presence in key industries and will
now be able to enhance its local teams with great digital
transformation projects and new teams of expert specialists," said
Ignacio Iglesias, Chief Business
Officer in Latin America at
Globant, based in São Paulo.
"Both organizations are united by a common commitment to
assisting clients in their digital transformations and contributing
to the improvement of the world. We share a mutual passion for
fostering a robust culture that upholds the highest standards of
diversity, inclusion, and equality principles. Without a doubt they
are the perfect partner to continue expanding Globant's footprint
in Brazil," said Martín Umaran,
Co-Founder and Chief Corporate Development Officer of
Globant.
Looking Forward Statement
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. The expectations related to the businesses of Globant and
Iteris may differ from their actual results and consequently, you
should not rely on these forward looking statements as predictions
of future events. In some cases, you can identify forward-looking
statements by terminology such as "believe," "may," "will",
"estimate," "continue," "anticipate," "intend," "should," "plan,"
"expect," "predict," "potential," or the negative of these terms or
other similar expressions. These forward-looking statements
include, without limitation, expectations with respect to the
anticipated benefits of this acquisition. These forward-looking
statements involve significant risks and uncertainties that could
cause the actual results to differ materially from the expected
results. Most of these factors are outside of the control of
Globant and Iteris and are difficult to predict. Factors that may
cause such differences include, but are not limited to: (1) the
risk that disruption from the transaction materially and adversely
affects Iteirs's business and operations; (2) Globant's ability to
recognize the anticipated benefits of this acquisition, (3) costs
related to this acquisition, (4) Globant's ability to successfully
grow Iteris' business; (5) potential adverse reactions or changes
to business relationships resulting from the announcement and
completion of this acquisition; (6) the ability of Globant to
retain and hire key Iteris employees; (7) changes in applicable
laws or regulations, (8) the demand for Iteris' services together
with the possibility that Iteris may be adversely affected by other
economic, business, and/or competitive factors; and (9) other
factors discussed under the heading "Risk Factors" in our most
recent Form 20-F filed with the Securities and Exchange Commission
and any other risk factors included in subsequent reports on Form
6-K. Because of these uncertainties, you should not make any
investment decision based on these forward-looking statements.
Except as required by law, we undertake no obligation to publicly
update any forward-looking statements for any reason after the date
of this press release whether as a result of new information,
future events or otherwise.
About Globant
We are a digitally native company that helps organizations
reinvent themselves and unleash their potential. We are the place
where innovation, design, and engineering meet at scale.
- We have more than 27,500 employees, and are present in 30
countries across 5 continents working for companies like Google,
Electronic Arts and Santander, among others.
- We were named a Worldwide Leader in AI Services (2023) and
Worldwide Leader in CX Improvement Services (2020) by IDC
MarketScape report.
- We stand among the top 100 fastest-growing companies in the
world (2023) according to Fortune.
- We were also featured as a business case study at
Harvard, MIT, and Stanford.
- We are active members of The Green Software Foundation (GSF)
and the Cybersecurity Tech Accord.
Contact: pr@globant.com
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SOURCE Globant