The company's Software Globant has acquired, for 65M$, the 100% of the Argentinean company Belatrix, another company in the sector dedicated to the provision of software engineering services.
The IT scenario in Agentina is favourable and promising. On the one hand, there are the software companies that offer services and solutions for the international market, and on the other hand, there is the local offer, which is joining the digital transformation.
A boom moment that many companies in the country are taking advantage of and which generates movements in corporate finance.
Globant is a world leader in the technology sector.
In 2016 and 2017 it was designated "a global leader in digital strategy consulting services"for the report IDC MarketScape.
It is currently in a process of expansion carried out in a largely organic manner, and has therefore recently acquired the 100% from Argentina's Belatrix.
The operation is valued at 65M$. With it, it will boost its digital transformation service and reinforce the company's presence in Latin America.
It will also enable it to strengthen sectors such as finance, payments, insurance, healthcare and retail.
This transaction is beneficial for both companies, as they share a common vision and strategy on how to create successful digital experiences for the most demanding customers in leading industries.
However, in reaction to this news of Globant's purchase of Belatrix, the company's Wall Street-listed shares lost more than 7%, and its value fell back to 3,600M$.
Notably, many of Belatrix's client companies are Fortune 500 companies, and its client portfolio will provide strategic digital transformation to some of the world's largest organisations.
The Fortune list is a list published each year by the Fortune magazine. Fortune magazineThe report presents the largest US publicly traded companies to any investor, i.e. not only listed companies, according to their sales volume.
Belatrix is a software engineering services providerfounded in 1993.
With more than 20 years of experience and 700 employees, it has sales offices in Florida, California, New York and Barcelona, as well as development centres in Mendoza, Buenos Aires, Lima and Bogotá.
With its acquisition, it aims to enhance its presence in the Americas and offer a new service to its customers in areas such as Artificial Intelligence, machine learning and customer experience.