Argentine IT firm Globant has announced that it has acquired India-based software developing firm Clarice Technologies and will soon launch a delivery center in the South Asian country.
Expanding its operations beyond the Americas and gaining access to India’s IT talent pool are said to be the primary reasons behind the acquisition. “This acquisition will help us increase the depth of our capabilities in Mobile, IoT and UX,” stated Globant CEO Martin Migoya in a press release.
Globant has not disclosed what price it paid for the Indian firm, but some analysts estimate that the Argentine company would have shelled out between $20 and $25 million. Nor is it clear how large Clarice’s workforce is.
Founded in 2008, Clarice specializes in using engineering and design technology in the software it writes for its clients. The company has delivery centers in the Indian cities of Pune and Bangalore, in addition to an office in California.
Clarice has won several awards for its innovative work, including the Red Herring Global Top 100 award in 2013 and Deloitte Technology Fast 50 award in 2014.
With 26 delivery centers across the Americas, Globant has long been focusing on developing software in emerging technologies, including cloud computing, gaming and big-data.
Analysts say Globant had long been looking for an acquisition in India, where it can employ low-cost but high-skilled software professionals with lengthy experience in writing software for U.S. multinationals.
The majority of Globant’s clients are in the United States and they include the likes of Google Inc., LinkedIn Corp., JWT, Electronic Arts and Coca-Cola.
“Our vision is to build a global team with the best talent of the world, regardless their geographic location,” Migoya stated.
When it published its latest quarterly financial results, Globant said it had over 4,000 employees, 500 more than when it launched a delivery center in New York in February.