Simultaneously with Globant CEO, Martín
Migoya, participating in the "Choose France Summit" with President
Emmanuel Macron, Globant
consolidates its French-based European team
Pentalog is a leading France-based digital transformation company
with a diverse array of services and a robust portfolio of clients
throughout Europe
Globant will now have a better reach in
France, Germany, Netherlands, Switzerland, and Austria
PARIS, May 15, 2023
/PRNewswire/ -- Globant (NYSE: GLOB), a digitally
native technology services company, announced today that it has
entered into a definitive agreement to acquire Pentalog, a renowned
digital transformation company that creates high-quality technology
solutions and products for digitally native organizations in key
industries such as finance, sports, gaming, travel, and education,
among others.
The acquisition will support Globant's plans to expand its
footprint and services in France.
This agreement is also very significant to the Company's growth
plans in the Netherlands and DACH
Region, adding a robust team of highly skilled engineers, tech
specialists and consultants, and an impressive client roster.
Globant's Co-Founder and CEO, Martin
Migoya, will further comment on this important investment
later today at Choose France Summit that will take place at the
Palace of Versailles.
Pentalog serves some of the strongest brands in key industries,
such as Criteo, Adidas, Cegid, BitPanda, TripAdvisor, Ipsos or G4S,
among other 500+ companies in several sectors. Today, the Company
is working on over 250 digital products with some of the world's
most innovative engineers. This combination will allow actual and
potential clients of Globant and Pentalog to benefit from increased
collaboration, scale-up solutions, and an enriched and broader
value proposition.
Founded in 1993 in Orleans, France, Pentalog houses 1,300 professionals in
France, Romania, Moldova, Mexico, Vietnam, and the U.S., among other countries,
and offers a robust value proposition including digital services to
solve customers' business problems and a recruiting division to
support customers' internal teams expansion. In its 30 years,
Pentalog was able to build a strong business pipeline with close to
80% of its revenues coming from European accounts and the remaining
revenues generated in North
America.
Pentalog's Co-founder and CEO, Frédéric Lasnier, will remain
with Globant together with his partners and the larger Pentalog
team.
"France is one of the
world's top economies and innovation hubs and we wanted Globant to
have a stronger presence in such important geography. Pentalog
impressed us with its amazing culture of innovation, client-centric
approach, and diverse talents. Together, we will be able to
continue offering top-notch services and products to keep
reinventing some of the most beloved brands in the world," said
Martin Migoya, Co-Founder and CEO of
Globant.
"Before this connection, I always had Globant in my sights.
Both as a model of inspiration and as a reference in digital
transformation around the world. Now that I have Globant at my
side, no doubt we'll reach the top of the podium in Europe," said Frédéric Lasnier, Co-founder
and CEO of Pentalog.
"We are thrilled to welcome Pentalog as part of the Globant
family. They are a great organization with a similar vision and
dream, and a perfect fit for our European expansion strategy,"
said Martin Umaran, Co-founder and
President of Europe of
Globant.
"Once Pentalog is fully integrated, we will be able to offer
better services to more companies with a local flavor and delivery
in more European countries. This combination will support big time
our plans to support Europe's top
brands digital transformation," said Fernando Matzkin, Chief Business Officer for
Europe of Globant.
Completion of this transaction is subject to customary closing
conditions.
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 27,000 employees and we are present in 25
countries and 5 continents working for companies like Google,
Electronic Arts and Santander, among others.
- We were named a Worldwide Leader in CX Improvement Services by
IDC MarketScape report.
- We were also featured as a business case study at Harvard, MIT, and
Stanford.
- We are a member of The Green Software Foundation (GSF) and the
Cybersecurity Tech Accord.
Contact: pr@globant.com
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For more information, visit www.globant.com.
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
Pentalog 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 the proposed 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 Pentalog and are difficult to
predict. Factors that may cause such differences include, but are
not limited to: (1) the ability of the parties to complete the
proposed acquisition; (2) the risk that the conditions to the
closing of the acquisition are not satisfied in a timely manner or
at all, (3) the risk that disruption from the transaction
materially and adversely affects Pentalog's business and
operations; (4) restrictions during the pendency of the transaction
that impact Pentalog's ability to pursue certain business
opportunities or other strategic transactions; (5) Globant's
ability to recognize the anticipated benefits of the proposed
acquisition, (6) costs related to the proposed acquisition, (7)
Globant's ability to successfully grow Pentalog's business; (8)
potential adverse reactions or changes to business relationships
resulting from the announcement, pendency or completion of the
proposed acquisition; (9) the ability of Globant to retain and hire
key Pentalog employees; (10) changes in applicable laws or
regulations, (11) the demand for Pentalog's services together with
the possibility that Pentalog may be adversely affected by other
economic, business, and/or competitive factors; and (12) 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.
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SOURCE Globant