Nearshore IT services and software firm Globant has acquired a majority stake (86.25%) in Huddle Group, a software developer with operations in the United States, Argentina and Chile. This is Globant’s major acquisition in recent years after it bought Nextive and the Brazilian TerraForum.
The merger helps the companies bolster their operations in the region and penetrate deeper into the Latin American software market, which reached $6.33 billion according to a recent assessment from IDC.
Globant, which is one of the biggest information technology firms in the nearshore region, is focusing on developing innovative software products by capitalizing on the high-end technologies such as cloud and Big Data.
“In Huddle we see an extremely talented group of people, and we believe that by partnering with them, both Globant and Huddle will be able to provide greater knowledge and even higher quality services to our customers,” said Martín Migoya, Globant CEO and co-founder.
The acuqisition brings a significant benefit for Globant in Argentina, where the nearshore IT firm is rapidly expanding in the recent years. The company recently launched a new global development center in Puerto Madero, investing about $10 million.
The Argentinean company has become one of today’s most in-demand ITO firms for multinational organizations, employing around 3,000 engineers, developers, marketing specialists and designers in 21 offices across 14 cities in Argentina, Brazil, Colombia, Uruguay, the United States and the United Kingdom. The merger with Huddle expands its operation to Chile.
“Our focus on innovation and on keeping on top of the technology curve are key aspects that allow us to helps our clients successfully surf the revolutionary transformations that the industry is facing, thus creating new sources of revenues,” explained Gabriel Spitz, who will continue as Huddle’s CEO.