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Globant S.A. (GLOB) delivers cutting-edge digital transformation through AI-powered solutions and creative software engineering. This news hub provides investors and industry professionals with centralized access to strategic developments from the globally recognized technology services leader.
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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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