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GLOBANT S.A. (NYSE: GLOB) is a pioneering technology services provider specializing in delivering innovative software solutions by harnessing emerging technologies and market trends. Founded in 2003 in Argentina and now headquartered in Luxembourg, Globant is a digitally native company dedicated to aiding clients in their digital transformation journeys. With a workforce of over 29,000 professionals across more than 30 countries, Globant’s services span multiple industries, including media, entertainment, and financial services.
Globant combines the technical precision of IT service providers with the creativity of digital agencies, creating a unique blend of engineering, design, and innovation at scale. Its notable clients include industry giants like Google, Electronic Arts, and Santander. The company has achieved numerous accolades, including being named a Worldwide Leader in Customer Experience (CX) Improvement by the IDC MarketScape report and being profiled as a business case study at prestigious institutions such as Harvard, MIT, and Stanford.
Recent Developments:
Globant recently launched its Connected Experiences Studio, which aims to revolutionize customer interactions by leveraging AI and cutting-edge technology. This new studio focuses on providing end-to-end connected experiences that bridge the gap between the physical and digital worlds. Additionally, Globant reported robust financial performance for the fiscal year ending December 31, 2023, with $2.1 billion in revenue, marking a 17.7% year-over-year growth. The company’s focus on profitability and operational efficiency has resulted in a strong financial position.
Globant continues to expand its service offerings and geographic footprint, driven by acquisitions and strategic partnerships. The company’s latest acquisitions, GUT and Iteris, further bolster its creative and digital capabilities. According to CEO and co-founder Martín Migoya, the company remains optimistic about future growth, emphasizing its strategic focus on AI and generative AI capabilities.
For more information, visit www.globant.com.
Globant (NYSE: GLOB) has announced a collaboration with Amazon Web Services (AWS) to assist customers in leveraging RISE with SAP for modernizing on-premise SAP ERP systems and migrating to the cloud. This partnership aims to streamline the migration process, offering increased speed and confidence to businesses seeking to improve resilience, efficiency, and decision-making through real-time data and AI-driven insights.
As an AWS Premier Tier Services Partner and SAP AppHaus Partner with Expert competency for SAP BTP, Globant brings extensive experience in both AWS and SAP technologies. The company's Studio for SAP technologies provides a range of SAP Business Technology Platform accelerators, AI solutions, and strategic services to help clients maximize their SAP investments.
Globant (NYSE: GLOB) has launched its AI Reinvention Network to accelerate AI adoption across various industries. This initiative includes updated Studios to help industries such as Automotive, Healthcare, Finance, and more, integrate advanced AI solutions. CEO Martín Migoya emphasizes Globant's commitment to providing cutting-edge technology, leveraging over a decade of AI experience. The Network aims to support businesses in discovering best practices and assessing AI's value for their needs. Globant, recognized by IDC's Worldwide Artificial Intelligence Services MarketScape, continues to lead AI-driven innovation.
Globant has announced the integration of its newly developed AI Agents into the software development life cycle (SDLC) to enhance efficiency and productivity. These AI Agents are designed to autonomously perform tasks such as backend prototyping, application design, testing, and bug fixing, thereby accelerating development processes. Supervised by humans, these AI tools aim to bring significant productivity gains and support various industries in adopting AI. Globant's offerings include agents for product definition, backend prototyping, application design, code testing, and issue fixing, complementing its existing AI solutions like Augoor and GeneXus Next. The initiative stems from Globant's decade-long investment in AI to provide cutting-edge technology solutions.
Globant (NYSE: GLOB) has launched its Adobe Studio, combining its marketing technology expertise with Adobe Experience Cloud to enhance marketing efficiency for leading brands across 33 countries. The new studio aims to improve personalization, automation, and data-driven insights for marketing campaigns. Key offerings include data management, audience insights, personalization, content management, marketing automation, and e-commerce solutions. This launch further strengthens Globant's digital marketing services portfolio, complementing its existing tech studios like Microsoft, Google Cloud, Salesforce, and Oracle.
Globant (NYSE: GLOB) announced the launch of Globant GUT, a new creative network powered by technology. This initiative combines Globant's acquired agencies—Habitant, Ad_bid, KTBO, and Vertic—with GUT, an award-winning global creative agency. Globant GUT will feature eight specialized studios focusing on marketing strategy, advertising, media, content, marketing technology, design, product, and commerce. The network aims to offer comprehensive marketing solutions enhanced by AI and technology.
Led by Wanda Weigert, Globant’s Chief Brand Officer, alongside GUT's founders Gastón Bigio and Anselmo Ramos, the network aims to revolutionize the advertising landscape. GUT's notable achievements include being named Cannes Lions Independent Network of the Year and winning multiple awards. Together, Globant and GUT aim to become a top 5 global creative network.
FTV Capital, a growth equity investment firm, has opened a new office in London to drive UK and European investments. Richard Earnshaw joins as partner to lead this expansion. This move marks FTV's first office outside the US, enhancing its investment activities in Europe. The new office, located in Mayfair, will collaborate with FTV's US offices and deepen its European investment pipeline. FTV's European portfolio includes companies like Liberis and ManyPets, with notable exits such as Centaur and WorldFirst. Earnshaw, with 13 years of experience in financial services technology, joins from Hg. This expansion aligns with FTV's strategy to support European tech entrepreneurs with growth capital and resources, further solidifying its global presence.
KKR has announced an agreement to acquire a majority stake in Agiloft, a leader in data-first contract lifecycle management (CLM). Existing investor FTV Capital will also invest additional capital, and JMI Equity will join as a new investor. This investment aims to help Agiloft expand its market share, innovate new product solutions, and enhance customer success. Agiloft's platform supports various departments by providing a comprehensive view of contract phases and integrating with other software systems for increased efficiency. The transaction includes a broad-based employee ownership program to boost engagement and performance.
Globant (NYSE: GLOB) has released its financial results for Q1 2024, reporting revenues of $571.1 million, a 20.9% year-over-year increase. IFRS diluted EPS was $1.02, and Non-IFRS adjusted diluted EPS was $1.53. While the IFRS gross profit margin slightly decreased to 35.4%, the Non-IFRS adjusted gross profit margin stood at 38.0%. The company experienced robust geographic growth, with significant contributions from North America and Latin America.
Cash and cash equivalents decreased by $85.8 million, primarily due to credit facility repayment and M&A payments. The company projects strong growth for Q2 and the full year, with estimated Q2 revenues between $585-$589 million and annual revenues between $2,405-$2,440 million.
On May 15, 2024, Globant (NYSE: GLOB) launched its Robotics Studio, enhancing its position in the automated robot integration space. This new studio leverages IoT and AI to automate large spaces, optimizing tasks that are dangerous, repetitive, or impossible for humans. Key offerings include RobOps for fleet management, Robotics Prototyping for transformative solutions in industries like logistics and healthcare, and Autonomous Machines powered by advanced computer vision and telemetry. The Robotics Studio is part of Globant's Digital Studio Network, aiming to provide clients with competitive advantages in a dynamic digital landscape.
Globant (NYSE: GLOB) will announce its first quarter 2024 financial results on May 16th, 2024, after market hours. The company's key executives will discuss the results in a video conference call.
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