Globant "Chooses France": Acquires Pentalog to reinforce its presence in France and continue its European expansion
Simultaneously with Globant CEO, Martín Migoya, participating in the "Choose France Summit" with President Emmanuel Macron, Globant consolidates its French-based European team
Pentalog is a leading France-based digital transformation company with a diverse array of services and a robust portfolio of clients throughout Europe
Globant will now have a better reach in France, Germany, Netherlands, Switzerland, and Austria
PARIS, May 15, 2023 /PRNewswire/ -- Globant (NYSE: GLOB), a digitally native technology services company, announced today that it has entered into a definitive agreement to acquire Pentalog, a renowned digital transformation company that creates high-quality technology solutions and products for digitally native organizations in key industries such as finance, sports, gaming, travel, and education, among others.
The acquisition will support Globant's plans to expand its footprint and services in France. This agreement is also very significant to the Company's growth plans in the Netherlands and DACH Region, adding a robust team of highly skilled engineers, tech specialists and consultants, and an impressive client roster.
Globant's Co-Founder and CEO, Martin Migoya, will further comment on this important investment later today at Choose France Summit that will take place at the Palace of Versailles.
Pentalog serves some of the strongest brands in key industries, such as Criteo, Adidas, Cegid, BitPanda, TripAdvisor, Ipsos or G4S, among other 500+ companies in several sectors. Today, the Company is working on over 250 digital products with some of the world's most innovative engineers. This combination will allow actual and potential clients of Globant and Pentalog to benefit from increased collaboration, scale-up solutions, and an enriched and broader value proposition.
Founded in 1993 in Orleans, France, Pentalog houses 1,300 professionals in France, Romania, Moldova, Mexico, Vietnam, and the U.S., among other countries, and offers a robust value proposition including digital services to solve customers' business problems and a recruiting division to support customers' internal teams expansion. In its 30 years, Pentalog was able to build a strong business pipeline with close to 80% of its revenues coming from European accounts and the remaining revenues generated in North America.
Pentalog's Co-founder and CEO, Frédéric Lasnier, will remain with Globant together with his partners and the larger Pentalog team.
"France is one of the world's top economies and innovation hubs and we wanted Globant to have a stronger presence in such important geography. Pentalog impressed us with its amazing culture of innovation, client-centric approach, and diverse talents. Together, we will be able to continue offering top-notch services and products to keep reinventing some of the most beloved brands in the world," said Martin Migoya, Co-Founder and CEO of Globant.
"Before this connection, I always had Globant in my sights. Both as a model of inspiration and as a reference in digital transformation around the world. Now that I have Globant at my side, no doubt we'll reach the top of the podium in Europe," said Frédéric Lasnier, Co-founder and CEO of Pentalog.
"We are thrilled to welcome Pentalog as part of the Globant family. They are a great organization with a similar vision and dream, and a perfect fit for our European expansion strategy," said Martin Umaran, Co-founder and President of Europe of Globant.
"Once Pentalog is fully integrated, we will be able to offer better services to more companies with a local flavor and delivery in more European countries. This combination will support big time our plans to support Europe's top brands digital transformation," said Fernando Matzkin, Chief Business Officer for Europe of Globant.
Completion of this transaction is subject to customary closing conditions.
We are a digitally native company that helps organizations reinvent themselves and unleash their potential. We are the place where innovation, design, and engineering meet at scale.
- We have more than 27,000 employees and we are present in 25 countries and 5 continents working for companies like Google, Electronic Arts and Santander, among others.
- We were named a Worldwide Leader in CX Improvement Services by IDC MarketScape report.
- We were also featured as a business case study at Harvard, MIT, and Stanford.
- We are a member of The Green Software Foundation (GSF) and the Cybersecurity Tech Accord.
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For more information, visit www.globant.com.
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 Pentalog 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 the proposed 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 Pentalog and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the ability of the parties to complete the proposed acquisition; (2) the risk that the conditions to the closing of the acquisition are not satisfied in a timely manner or at all, (3) the risk that disruption from the transaction materially and adversely affects Pentalog's business and operations; (4) restrictions during the pendency of the transaction that impact Pentalog's ability to pursue certain business opportunities or other strategic transactions; (5) Globant's ability to recognize the anticipated benefits of the proposed acquisition, (6) costs related to the proposed acquisition, (7) Globant's ability to successfully grow Pentalog's business; (8) potential adverse reactions or changes to business relationships resulting from the announcement, pendency or completion of the proposed acquisition; (9) the ability of Globant to retain and hire key Pentalog employees; (10) changes in applicable laws or regulations, (11) the demand for Pentalog's services together with the possibility that Pentalog may be adversely affected by other economic, business, and/or competitive factors; and (12) 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.