With this acquisition, Globant continues its journey of
creating a powerful global creative tech organization ready for
growth
After being a client for three years, Globant buys its own
advertising agency in a golden and unique move
NEW YORK, Nov. 28, 2023 /PRNewswire/ -- Globant (NYSE:
GLOB), a digitally native company focused on reinventing businesses
through innovative technology solutions, today announced the
acquisition of a majority stake in GUT, an independent creative
agency, to strengthen and grow Globant's creative capabilities.
This acquisition will shape a partnership that will boost Globant's
technology and creative offering, taking it to a new level, and
support GUT's expansion to new markets and industries while leading
the inception of technology into advertising.
"Technology and creativity have never been more closely
linked than they are today," said Martin Migoya, Co-founder and CEO of Globant.
"We always say that Globant is where innovation, design,
and engineering meet scale, and we couldn't be more excited to
bring the world's most creative marketing and communications
company into the mix. With this acquisition, we will be able to
offer a unique blend of top-notch technology and bold ideas to
brands from the very beginning of the creative ideation
process."
"We are thrilled to enter into this next chapter of our
expansive growth powered by such an entrepreneurial and innovative
partner as Globant, who will help us rapidly achieve the scale
we've always dreamed about," said Anselmo Ramos, Co-Founder and Creative Chairman
of GUT. "Our mission when we founded GUT was to be the most
diverse, creative, and influential agency Network ever, so we know
that this reinvention with Globant will only accelerate that goal
to hopefully becoming our reality soon."
The five-year-old network has employees across seven offices in
Miami, Buenos Aires, São Paulo, Toronto, Mexico
City, Los Angeles, and
Amsterdam. It has also attracted
over 60 clients globally, including AB InBev, Mercado Libre, Google, Kraft Heinz, Coca-Cola,
and Tim Hortons.
This year, GUT was named Cannes Lions Independent Network of the
Year after winning 35 Lions, including 3 Grand Prix, 8 Golds, 12
Silvers, and 12 Bronzes across its Network. GUT Buenos Aires was also named both Cannes Lions
Agency of the Year and Independent Agency of the Year in 2023. And
this fall, Adweek named GUT the Breakthrough Agency of the Year, as
well as GUT Buenos Aires office as the International Agency of the
Year.
GUT will remain operating as fully independent as it does today,
and GUT's leadership team will remain in place with a continued
focus on building culture and driving growth. Both companies will
work together identifying cross-selling opportunities and
leveraging their unique skills to provide even more innovative
solutions to their customers.
"Globant has been a trusted client for many years. We've done
so many wonderful and successful things together as an agency and
client, and now together, we know they will help us realize the
dreams we've had since we were founded in 2018," said
Gaston Bigio, Co-Founder and
Creative Chairman of GUT. "Ultimately, we're excited to be part
of the team that will propel us into the next phase of growth and
success at GUT, and set us up for even more growth and success in
the long term for our People and clients around the world."
"GUT and Globant share a solid culture, endless passion for
supporting their clients, and a strong commitment to bravery,
creativity, and innovation", said Martin Umaran, Co-Founder and Chief Corporate
Development Officer of Globant. "In past years, Globant
doubled-down on its inherent creative side of technology by adding
marketing and advertising agencies such as Habitant, in
Spain, Vertic, in Denmark, Ad_Bid, in Colombia, and KTBO, in Mexico. We have already merged these teams
with Globant's own Digital Marketing and Digital Sales Studios to
create a new end-to-end Studio Network with an agency approach
enhanced with AI and diverse and talented professionals. GUT will
play a critical role in being part of this Network", he
added.
Both organizations are ranked among the top ten global
organizations in their respective industries: Globant is the 8th
strongest IT brand globally according to the latest Brand Finance
report, and GUT is the most creative independent advertising
network in the world according to Cannes 2023 Report – forming a powerful global
creative tech company poised for even greater growth. Globant was
also included by Fortune on its latest list of "100 Fastest-Growing
Companies", ranked first among peers in the Information Technology
Services category and recognized for its revenue, profit and stock
return over the last three years.
About Globant
We are a digitally native company that helps organizations
reinvent themselves and unleash their potential. We are where
innovation, design, and engineering meet at scale.
- We have more than 27,500 employees and are present in 30
countries and five continents, working for companies like Google,
Electronic Arts, and Santander, among others.
- We were named a Worldwide Leader in AI Services (2023) and
Worldwide Leader in CX Improvement Services (2020) by IDC
MarketScape report.
- We were also featured as a business case study at Harvard, MIT, and
Stanford.
- We are active members 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
About GUT
GUT is an award-winning Global Creative Network with offices in
Miami, Buenos Aires, São Paulo, Toronto, Mexico
City, Los Angeles, and
Amsterdam, created on the
foundation of three essential values: Courage, Transparency, and
above all, Intuition. Since its founding in 2018 by Anselmo Ramos and Gaston
Bigio, GUT's strength has been to help brands generate a
disproportionate amount of buzz, infiltrate pop culture, influence
behaviors, create brand love long term, and ultimately help solve
brands' biggest business challenges. The GUT Network has also won
multiple accolades at the industry's most prestigious award shows,
including at Cannes Lions 2023, where it won a total of 35 Lions (3
GPs, 8 Gold, 12 Silver and 12 Bronze), and became #1 Independent
Network of the Year, LATAM Regional Network of the Year, and its
GUT Buenos Aires office became both Independent Agency of the Year
and Agency of the Year - a first for Argentina. More recently, GUT was named as
Adweek's #1 Breakthrough Agency of the Year, and its Buenos Aires office was named as the #1
International Agency of the Year. Learn more at
https://www.gut.agency
Forward Looking Statements
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 Gut 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 this majority shareholding 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 Gut and are difficult to predict. Factors that may
cause such differences include, but are not limited to: (1) the
risk that disruption from the transaction materially and adversely
affects Gut's business and operations; (2) Globant's ability to
recognize the anticipated benefits of this majority shareholding
acquisition, (3) costs related to this majority shareholding
acquisition, (4) Globant's ability to successfully grow Gut's
business; (5) potential adverse reactions or changes to business
relationships resulting from the announcement and completion of
this majority shareholding acquisition; (6) the ability of Globant
to retain and hire key Gut employees; (7) changes in applicable
laws or regulations, (8) the demand for Gut's services together
with the possibility that Gut may be adversely affected by other
economic, business, and/or competitive factors; and (9) 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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