Globant Acquires Majority Stake In Walmeric To Strengthen Its Digital Sales Products Portfolio

Rhea-AI Summary

Globant (NYSE: GLOB) announced the acquisition of an 80 percent stake in Walmeric, a marketing automation technology firm, on July 8, 2021. This acquisition aims to enhance Globant's digital marketing and sales capabilities, including access to Walmeric's cloud-based lead management platform, Delio. With a strong portfolio in industries like insurance and banking, Walmeric will support Globant's vision of aiding organizations in their digital transformations. The deal includes an option to acquire the remaining stake within three years.

Positive

• Acquisition strengthens digital marketing and sales portfolio.
• Access to Walmeric's SaaS platform, Delio, enhances lead management capabilities.
• Walmeric has a diverse customer base, including major corporations in key industries.

Negative

• 80 percent stake acquisition may lead to integration challenges.
• Potential financial strain associated with acquiring the remaining stake.

LUXEMBOURG, July 8, 2021 /PRNewswire/ -- Globant (NYSE: GLOB), a digitally native technology services company, announced today its acquisition of an 80 percent stake in Walmeric, a firm specialized in developing marketing automation technology combining lead management, online marketing and sales enablement. The agreement includes an option to purchase the remaining minority stake through a three-year term.

This first product-oriented acquisition strengthens Globant's portfolio of digital marketing and digital sales. Walmeric offers a multi-channel marketing platform focused on lead to revenue management with strong B2B2C expertise. Their main product is the cloud-based platform (SaaS) Delio, a complete lead management platform that helps companies to track and qualify leads, discover their interests and contact them with all that information to convert them efficiently into sales.

Based in Spain, with over 30 collaborators, Walmeric has developed a sound customer portfolio including large well-reputed corporations (Ibex35, EuroStoxx50, FTSE100) in key verticals such as insurance, utilities/energy, telecom, banking, travel, retail, auto, healthcare and other B2C sectors.

"Walmeric joins in our quest to help organizations reinvent themselves as they go through profound digital transformations. As an important part of this journey, we are betting big time on disrupting our clients' digital sales strategy, a fundamental approach to create more engaging experiences and conquer the digital and cognitive revolution," said Martin Migoya, CEO and Co-Founder of Globant. 

"We are proud to partner with Globant, a global company of reference with a completely end-to-end approach. In this new journey we will offer stability, scalability and innovation through advanced consultative models combined with powerful technology to our clients and the market. We will thus embrace new cross-cutting projects and new geographies," said Antonio Fernández, CEO of Walmeric.

Martín Umaran, Co-Founder of Globant, Chief Corporate Development Officer and President for EMEA said: "Walmeric's passion for understanding customer needs fits perfectly within Globant's vision and culture. Their highly-effective and unique portfolio of products will complement our actual offering to broaden our presence from Europe to the world."

About Globant

We are a digitally native company that helps organizations reinvent themselves to create a way forward and unleash their potential. We are the place where innovation, design, and engineering meet scale.

• We have more than 17,250 employees and we are present in 18 countries working for companies like Google, Rockwell Automation, Electronic Arts, and Santander, among others.
• We were named a Worldwide Leader in CX Improvement Services by IDC MarketScape report.
• We were also featured as a business case study at Harvard, MIT, and Stanford. 
• We are a member of the Cybersecurity Tech Accord.

For more information, visit www.globant.com

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SOURCE Globant

FAQ

What is the significance of Globant's acquisition of Walmeric?

The acquisition strengthens Globant's digital marketing and sales products portfolio, enhancing its capabilities in lead management.

When was the acquisition of Walmeric by Globant announced?

The acquisition was announced on July 8, 2021.

What percentage of Walmeric did Globant acquire?

Globant acquired an 80 percent stake in Walmeric.

What is the expected impact of this acquisition on Globant's business?

The acquisition is expected to improve Globant's digital transformation services and expand its market reach.

Does the acquisition include plans for future ownership of Walmeric?

Yes, the agreement includes an option to purchase the remaining minority stake within three years.