Globant Acquires Blankfactor to Strengthen Its Payments, Banking, and Capital Markets Practice in the US
Globant (NYSE: GLOB) has announced a definitive agreement to acquire Blankfactor, a U.S.-based IT services consulting firm specializing in Payments, Banking, and Capital Markets. Blankfactor, founded in 2016, has grown rapidly by delivering consulting-led product engineering, data engineering, and enterprise AI solutions to major financial institutions. With over 450 technology professionals across the U.S., U.K., Colombia, Romania, and Bulgaria, Blankfactor brings expertise in card issuing, merchant acquiring, and securities finance.
The acquisition aims to strengthen Globant's Payments Studio in North America and expand its capabilities in the financial services sector. Blankfactor's founders, Michael Wear and Melody Pak, will continue to lead the company post-acquisition. The transaction is subject to customary closing conditions and regulatory approvals.
Globant (NYSE: GLOB) ha annunciato un accordo definitivo per acquisire Blankfactor, una società di consulenza IT con sede negli Stati Uniti specializzata in Pagamenti, Banche e Mercati di Capitale. Fondata nel 2016, Blankfactor è cresciuta rapidamente offrendo
L'acquisizione mira a rafforzare lo Studio dei Pagamenti di Globant in Nord America ed espandere le sue capacità nel settore dei servizi finanziari. I fondatori di Blankfactor, Michael Wear e Melody Pak, continueranno a guidare l'azienda dopo l'acquisizione. La transazione è soggetta a condizioni di chiusura abituali e approvazioni normative.
Globant (NYSE: GLOB) ha anunciado un acuerdo definitivo para adquirir Blankfactor, una firma de consultoría de servicios de TI con sede en EE. UU. que se especializa en Pagos, Banca y Mercados de Capital. Fundada en 2016, Blankfactor ha crecido rápidamente al ofrecer ingeniería de productos dirigida por consultoría, ingeniería de datos y soluciones de IA empresarial a importantes instituciones financieras. Con más de 450 profesionales de la tecnología en EE. UU., Reino Unido, Colombia, Rumanía y Bulgaria, Blankfactor aporta experiencia en emisión de tarjetas, adquisición de comerciantes y financiamiento de valores.
La adquisición tiene como objetivo fortalecer el Estudio de Pagos de Globant en América del Norte y expandir sus capacidades en el sector de servicios financieros. Los fundadores de Blankfactor, Michael Wear y Melody Pak, seguirán liderando la empresa después de la adquisición. La transacción está sujeta a condiciones de cierre habituales y aprobaciones regulatorias.
글로반트(Gobant)(NYSE: GLOB)는 결제, 은행 및 자본 시장 전문의 미국 IT 서비스 컨설팅 회사인 Blankfactor 인수에 대한 확정 계약을 발표했습니다. 2016년에 설립된 Blankfactor는 주요 금융 기관에 컨설팅 중심의 제품 엔지니어링, 데이터 엔지니어링 및 기업 AI 솔루션을 제공함으로써 빠르게 성장했습니다. 미국, 영국, 콜롬비아, 루마니아 및 불가리아에 450명 이상의 기술 전문가를 보유한 Blankfactor는 카드 발급, 가맹점 인수 및 증권 금융 분야에서 전문성을 제공합니다.
이번 인수는 북미에서 Globant의 결제 스튜디오를 강화하고 금융 서비스 분야의 역량을 확장하는 것을 목표로 하고 있습니다. Blankfactor의 창립자인 Michael Wear와 Melody Pak은 인수 후에도 회사를 계속 이끌어 갈 것입니다. 거래는 관례적인 마감 조건 및 규제 승인을 조건으로 합니다.
Globant (NYSE: GLOB) a annoncé un accord définitif pour acquérir Blankfactor, une entreprise de conseil en services informatiques basée aux États-Unis, spécialisée dans les paiements, la banque et les marchés de capitaux. Fondée en 2016, Blankfactor a connu une croissance rapide en fournissant ingénierie produit orientée conseil, ingénierie des données et solutions d'IA d'entreprise aux grandes institutions financières. Avec plus de 450 professionnels de la technologie aux États-Unis, au Royaume-Uni, en Colombie, en Roumanie et en Bulgarie, Blankfactor apporte une expertise dans l'émission de cartes, l'acquisition de commerçants et le financement de titres.
L'acquisition vise à renforcer le studio de paiements de Globant en Amérique du Nord et à étendre ses capacités dans le secteur des services financiers. Les fondateurs de Blankfactor, Michael Wear et Melody Pak, continueront à diriger l'entreprise après l'acquisition. La transaction est soumise aux conditions de clôture d'usage et aux approbations réglementaires.
Globant (NYSE: GLOB) hat eine endgültige Vereinbarung zur Übernahme von Blankfactor, einem in den USA ansässigen IT-Dienstleistungsberatungsunternehmen, das sich auf Zahlungen, Banken und Kapitalmärkte spezialisiert hat, bekanntgegeben. Blankfactor, im Jahr 2016 gegründet, ist schnell gewachsen, indem es beratungsorientierte Produktentwicklung, Datenengineering und Unternehmens-AI-Lösungen für große Finanzinstitute angeboten hat. Mit über 450 Technologieexperten in den USA, Großbritannien, Kolumbien, Rumänien und Bulgarien bringt Blankfactor Expertise in Kartenemission, Händlerakquise und Wertpapierfinanzierung mit.
Die Übernahme zielt darauf ab, das Zahlungsstudio von Globant in Nordamerika zu stärken und seine Fähigkeiten im Finanzdienstleistungssektor auszubauen. Die Gründer von Blankfactor, Michael Wear und Melody Pak, werden das Unternehmen nach der Übernahme weiterhin leiten. Die Transaktion unterliegt den üblichen Abschlussbedingungen und Genehmigungen durch die Aufsichtsbehörden.
- Acquisition strengthens Globant's presence in the lucrative Payments, Banking, and Capital Markets sectors
- Blankfactor brings expertise in card issuing, merchant acquiring, and securities finance
- Addition of 450+ technology professionals with specialized skills
- Expands Globant's client base, including six of the top ten payment processors
- Enhances Globant's cloud ecosystem expertise (AWS, Google Cloud, Microsoft Azure, Snowflake, Databricks)
- Acquisition costs and potential integration challenges not disclosed
- Regulatory approval still pending, which could delay or impact the deal
Insights
Globant's acquisition of Blankfactor is a strategic move to bolster its presence in the lucrative financial services sector. This deal significantly enhances Globant's capabilities in payments, banking and capital markets, particularly in the U.S. and U.K. markets. The acquisition brings 450+ technology professionals with specialized expertise, potentially boosting Globant's revenue and market share in these verticals.
Financially, while specific figures aren't disclosed, the deal likely involves a substantial investment given Blankfactor's client portfolio, which includes six of the top ten payment processors. This could translate to increased revenue streams for Globant in the short to medium term. However, investors should monitor integration costs and potential synergies realization in the coming quarters to gauge the acquisition's true value.
This acquisition significantly enhances Globant's technological capabilities in the financial sector. Blankfactor's expertise in product engineering, data engineering and enterprise AI aligns perfectly with the industry's digital transformation trends. Their proficiency in major cloud platforms (AWS, Google Cloud, Azure) and data technologies (Snowflake, Databricks) is particularly valuable.
The combination of Blankfactor's specialized knowledge and Globant's scale could accelerate innovation in areas like AI-driven financial services and cloud-native banking solutions. This move positions Globant to capitalize on the growing demand for advanced tech solutions in finance, potentially leading to new product offerings and enhanced competitiveness in the market.
This acquisition reflects the growing importance of specialized tech services in the financial sector. With Blankfactor's focus on payments, capital markets, wealth management and fintech, Globant is positioning itself at the forefront of digital transformation in finance. The deal aligns with market trends showing increased demand for consulting-led engineering in financial services.
Investors should note the potential for cross-selling opportunities and expanded market reach. Blankfactor's strong presence in North America and the UK complements Globant's global footprint. However, the success of this acquisition will depend on effective integration and leveraging of Blankfactor's expertise across Globant's existing client base. Watch for indicators of successful synergy realization in future earnings reports.
Blankfactor is a
Blankfactor has grown rapidly by leveraging highly specialized consultants coupled with deep vertical expertise in the financial services sector. The company also holds extensive expertise in AWS, Google Cloud, Microsoft Azure, Snowflake, and Databricks
Founded by Michael Wear and Melody Pak, Blankfactor has grown rapidly since its kick-off in 2016 through strategy-led product engineering with deep vertical knowledge. Blankfactor also holds profound expertise within the cloud ecosystem with AWS, Google Cloud, Microsoft Azure, Snowflake, and Databricks. Leveraging its effective balance of
Headquartered in
"Blankfactor brings incredible experiences and best practices within the financial services space, which is a key vertical for Globant. As AI develops and impacts industries, we want to expand Globant's visions and knowledge in order to provide a continuously evolving service to our clients," said Martin Migoya, Co-Founder and CEO of Globant.
"I have always admired Globant as a model of execution at scale in digital transformation, with exceptional talent around the world. With the scale and depth of Globant, I'm looking forward to achieving greater outcomes for our clients," said Michael Wear, Founder and CEO of Blankfactor.
"Blankfactor is a great organization with world-class clients and has an exceptional track record, delivering specialized value propositions in a crucial industry for our corporate roadmap. They join Globant to consolidate the Payments Studio in
"Blankfactor's consulting-led engineering capabilities, combined with Globant's scale and breadth of services, delivers a winning combination for our current and future clients," said Asif Ramji, Chairman of Blankfactor.
"We are thrilled to welcome such a talented group of professionals with the passion and capability to dream as big as Globers do. They are a perfect fit for our current expansion strategy," said Martin Umaran, Co-Founder and Chief Corporate Development Officer of Globant.
Company founders Michael Wear and Melody Pak will continue at the helm, and Blankfactor management and their respective teams look forward to supercharging their scale and impact with Globant, while remaining true to Blankfactor's singular focus on consulting-led digital execution for the financial services industry.
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About Globant
At Globant, we create the digitally-native products that people love. We bridge the gap between businesses and consumers through technology and creativity, leveraging our experience as an AI powerhouse. We dare to digitally transform organizations and strive to delight their customers.
- We have more than 29,100 employees and are present in 33 countries across 5 continents, working for companies like Google, Electronic Arts, and Santander, among others.
- We were named a Worldwide Leader in AI Services (2023) and a Worldwide Leader in CX Improvement Services (2020) by IDC MarketScape report.
- We are the fastest-growing IT brand and the 5th strongest IT brand globally (2024), according to Brand Finance.
- We were featured as a business case study at Harvard, MIT, and Stanford.
- We are active members of The Green Software Foundation (GSF) and the Cybersecurity Tech Accord.
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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 Blankfactor 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 Blankfactor 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 Blankfactor's business and operations; (4) restrictions during the pendency of the transaction that impact Blankfactor'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 Blankfactor'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 Blankfactor employees; (10) changes in applicable laws or regulations, (11) the demand for Blankfactor's services together with the possibility that Blankfactor 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.
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