Argentine software innovation company Globant plans to expand business to Brazil by year-end, company COO and co-founder Martín Umaran told BNamericas.
Besides the Brazil sales push, Globant is also looking to open a new development center soon in another Latin American country, Umaran said without specifying the location.
"Brazil is growing so fast. It's a great opportunity to do business there," Umaran said, adding that Globant is looking for a local company to partner with. But on the other hand, the company is also growing, so "we can probably acquire."
At the same time, in Brazil's market "it's a bit more complex to establish a company locally, to recruit people. It has a very particular bureaucracy, stronger than in other Latin American countries" and unlike the US, he noted.
Globant is looking to bill US$90mn this year and grow sales 40% in 2012, the executive added. The company's main markets are the US and the UK, with about 93% of revenue coming from these two markets.
Earlier this week Globant announced the purchase of US mobile and social applications firm Nextive to expand its presence in the US. According to Umaran, Globant expects to increase its workforce in the US from 100 to 300 in the next year.
"The current trend is related to mobility and portability between different gadgets," the executive said. "We realized that we needed to increase our offer for mobile devices, and that's how we found Nextive."
Nextive will be in charge of strengthening Globant's mobile division in areas such as operating systems like Android and devices such as smartphones, as well as in social platforms like Facebook, Nextive CEO Andrew Burgert told BNamericas.
According to Burgert, Nextive will maintain its current structure and slowly start integrating administrational processes like SAP.
Nextive has offices in the US and Argentina, while Globant has presence in Argentina, Uruguay, Colombia, the US and the UK.