(peHUB) August 2, 2011 – Globant, a Buenos Aires-based IT company has acquired the San Francisco-based social software developer to expand its footprint in the U.S. Terms of the deal were not disclosed.
In March, Globant raised $15 million from Riverwood Capital and FTV Capital. It has raised roughly $35 million altogether and intends to raise more through an IPO next year.
(Globant) August 2, 2011 – Globant, leader in the creation of innovative software products that appeal to global audiences, acquired Nextive (www.nextive.com), expanding Globant’s presence in the US, widening its expertise in mobile and social technologies and strengthening its position as leader in the creation of innovative software products.
With this acquisition, Globant plans to expand its portfolio of mobile and social services through Nextive´s capabilities. Founded in 2008 in San Francisco, California, Nextive has a broad set of clients in the US, including companies like Crowdstar, GSN and Zynga. Nextive´s team will lead Globant´s Mobile Studio, adding new practices and increasing its reach. Nextive´s more than 130 professionals will join Globant´s team, working from their development centers in San Francisco, Buenos Aires and Cordoba.
Nextive´s US headquarters will allow Globant to strengthen its presence near its customers and propel its growth in North America. After this transaction, Globant plans to expand the US team. The Company is currently hiring 120 new Globers per month worldwide, and expects to add 200 US-based professionals in the next two years as well.
“We are really excited about this deal. We are glad Nextive is joining us because it will allow us to keep growing in the US. Since we founded Globant, we wanted to create a company that brought opportunities for talent worldwide, so with this acquisition, we will be creating job opportunities for US professionals”, commented Martin Migoya, Globant CEO & Co-founder. He added: “For us it´s key to continue working on the specialized expertise we have built with our Studios. Nextive strongly complements our knowledge in mobile innovative solutions, which will benefit our customers.”
“Nextive and Globant share the same culture of innovation and challenge. Globant´s global vision, constant growth and creativity, combined with the experience and talent of both companies, will allow us to augment our services and relationships with customers,” pointed out Martin Umaran, Globant COO, M&A chief & Co-founder.
“We are excited to join the ever-growing Globant team in the US and Argentina, where we will find plenty of challenges and new opportunities with companies like EA, Linkedin and Google. We will also be able to realize the full potential of our combined efforts to produce outstanding mobile and social experiences for larger audiences”, stated Andrew Burgert, Nextive CEO.
Globant is the Latin American leader in the creation of innovative software products that appeal to global audiences, specializing in the use of agile methodologies and a rational blend of open source and proprietary software. At Globant we have a holistic view of software development, where the best engineers team up with art design studios and innovation labs to deliver a superb user experience. Globant is a privately held, privately funded company headquartered in Buenos Aires, Argentina with offices in Tandil, Cordoba, Rosario, Resistencia, Bahia Blanca and La Plata in Argentina, San Francisco, New York and Boston in the United States, Montevideo, Bogota, and London. For more information, visit www.globant.com.