Globant and LaLiga reach an agreement to create a global technology company to reinvent the Sports and Entertainment Industry
Globant (NYSE: GLOB) and LaLiga have announced a joint venture aimed at transforming sports and entertainment through technology, expanding LaLiga Tech's product offerings. This collaboration seeks to enhance global fan engagement using advanced solutions like OTT platforms and gaming. The partnership capitalizes on Globant's technology expertise and LaLiga's extensive experience in sports to accelerate growth in emerging tech sectors, including Web 3.0 and the Metaverse. The deal's closing is subject to regulatory approval.
- Joint venture with LaLiga to enhance global sports and entertainment technology.
- Leverages Globant's expertise in tech to expand LaLiga Tech products.
- Focus on emerging technologies like Web 3.0 and the Metaverse.
- Closing of the joint venture is subject to regulatory approval, which may introduce delays.
- Operational risks associated with merging two distinct corporate cultures.
The new joint venture will expand and accelerate the services and products currently offered by LaLiga Tech, leveraging Globant's focus on the latest technologies and trends to transform sport and entertainment experiences around the globe
MADRID, Sept. 28, 2022 /PRNewswire/ -- Globant (NYSE: GLOB), a digitally native company focused on reinventing businesses through innovative technology solutions, and LaLiga, Spain's top-flight football competition, announced today that they had reached an agreement to create a joint venture to establish a global technology company that will lead the reinvention of the sports and entertainment industry.
The partnership will leverage Globant's track record in delivering business and industry transformation through technology and LaLiga's unique expertise in developing leading global sports events while improving fans' experiences.
Globant and LaLiga will work on expanding the products and services of LaLiga Tech, a central part of LaLiga since 2014, to create a unique offering for organizations looking to engage a new generation of fans around the world. The digital ecosystem of LaLiga Tech consists of products such as its OTT platform, Fantasy gaming, App and Web design, Mediacoach, and Content Protection antipiracy tools, as well as consultancy services for data analysis and global fan engagement. The new partnership with Globant will accelerate the technology roadmap, product and services evolution, and geographical expansion of this offering by leveraging Web 3.0, Metaverse, and Gaming, among many other rising technologies.
"Globant's vision is to reinvent industries and organizations while offering amazing experiences for end users. After working for two decades with some of the most beloved brands in the world, we are pleased to join forces with such an important organization as LaLiga and build a unique and truly global offering to support the digital transformation of key players in the sports and entertainment arena," said Martín Migoya, Co-founder and CEO of Globant.
"LaLiga Tech was created to help sports and entertainment accelerate their digital transformation, and the surge in demand we have seen shows that this remains a core priority for the industry. Partnering with Globant will allow us to continue this growth at a global scale while creating the most immersive and valuable technologies for our clients. Globant's expertise in business transformation, combined with our long-standing experience of how to grow sports competitions through technology, creates a unique and exciting proposition for the market", added Óscar Mayo, executive director of LaLiga.
Martin Migoya and Oscar Mayo will be delivering a keynote presentation at 6.05 pm CET today at World Football Summit (Seville, Spain). Watch it live in the link below:
- Spanish channel, video and audio: https://youtu.be/QK-NcZkYQqs
- English channel, only audio: https://webapp.olyusei.com/events/85694a7d-5b48-4738-9a60-7fa3bafa9387/categories/?code=wfs&pin=2022
Closing of this transaction is subject to regulatory approval and customary closing conditions.
About Globant
We are a digitally native company that helps organizations reinvent themselves and unleash their potential. We are the place where innovation, design and engineering meet scale.
- We have more than 25,900 employees and we are present in 20 countries working for companies like Google, Electronic Arts and Disney, 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 Green Software Foundation (GSF) and the Cybersecurity Tech Accord.
About LaLiga
LaLiga is a global, innovative and socially responsible organisation which is a leader in the leisure and entertainment sector. It is a private sports association composed of the 20 public limited sports companies (SADs) and clubs of LaLiga Santander and the 22 of LaLiga SmartBank, and is responsible for organising professional football competitions in Spain. LaLiga is the football competition with the most social media followers in the world, with over 158 million followers across 17 platforms in 20 different languages. With its headquarters in Madrid (Spain), it is present in 41 countries through eleven offices and 44 delegates. The organisation carries out its social work through its Foundation and was the world's first professional football league to establish a league for intellectually challenged footballers: LaLiga Genuine Santander.
About LaLiga Tech
LaLiga Tech is a provider of specialised technologies for the global sports and entertainment sector, helping customers reach the next stage of their digital transformation. It offers a single interconnected data ecosystem providing modular solutions for global fan engagement, competition management and content enhancement, including real-time data integration and content protection. LaLiga Tech solutions have formed a central part of LaLiga since 2014 and are now used by a wide range of global clients.
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, La Liga and the joint venture ("Joint Venture") 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 transaction. 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, La Liga or the Joint Venture 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 transaction; (2) the risk that the conditions to the closing of the transaction are not satisfied in a timely manner or at all, (3) the risk that disruption from the transaction materially and adversely affects Globant, La Liga or the Joint Venture's business and operations; (4) restrictions during the pendency of the transaction that impact Globant, La Liga or the Joint Venture's ability to pursue certain business opportunities or other strategic transactions; (5) Globant or La Liga's ability to recognize the anticipated benefits of the proposed transaction, (6) costs related to the proposed transaction, (7) Globant, La Liga or the Joint Venture's ability to successfully grow the joint business; (8) potential adverse reactions or changes to business relationships resulting from the announcement, pendency or completion of the proposed transaction; (9) the ability of Globant, La Liga or the Joint Venture to retain and hire key employees; (10) changes in applicable laws or regulations, (11) the demand for Globant, La Liga or the Joint Venture's services together with the possibility that Globant, La Liga or the Joint Venture 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.
Media Relations Contacts:
Globant pr@globant.com | LaLiga prensa@laliga.es www.laliga.es |
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