Globant acquires US firm Nextive

Tuesday, August 2, 2011

Argentine software innovation company Globant has acquired US mobile and social applications firm Nextive to expand its presence in the US, the former said in a statement without disclosing the purchase price.

With this acquisition, Globant plans to expand its portfolio of mobile and social services through Nextive's capabilities.

Nextive's US headquarters will allow Globant to strengthen its presence near its customers. After this transaction, Globant plans to expand the US team, according to the statement.

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The company is currently hiring 120 new employees a month worldwide, and expects to add 200 professionals in the US in the next two years.

According to local news agency El Cronista, Globant plans to bill US$90mn by year-end; it expects sales to grow 40% in 2012.

According to Martín Umaran, Globant COO and co-founder, the company also expects to start trading "maybe on Nasdaq, but definitely in the US."

Globant has a workforce of 2,300, spread around Argentina, Uruguay, Colombia, the US and the UK.