Globant Announces $1 Billion USD Investment in Latin America to Strengthen Its Presence in the Region, Focusing on AI and Other Emerging Technologies

Rhea-AI Summary

Globant, a digitally native company, announced a five-year, $1 billion investment plan in Latin America. The plan includes opening an Emerging Technologies Innovation Center in Brazil, developing AI-based products, and hiring 20,000 professionals in the region.

Positive

• Globant plans to open an Emerging Technologies Innovation Center in Brazil as part of its investment plan.
• The company will continue developing AI-based products such as Genexus, MagnifAI, StarMeUp, and Augoor.
• Globant aims to hire 20,000 professionals from the region to reinforce its leadership in Latin America.

Negative

• None.

• As part of the five-year investment plan, which will include various initiatives through 2028, the company will open an Emerging Technologies Innovation Center in Brazil
• Globant will also continue the development of AI-based products such as Genexus, MagnifAI, StarMeUp, and Augoor
• The company also plans to hire 20,000 professionals from all over the region to reinforce its leadership in Latin America

BUENOS AIRES, Aug. 10, 2023 /PRNewswire/ -- Globant (NYSE: GLOB), a digitally native company focused on reinventing businesses through innovative technology solutions, announced a five-year, $1 billion USD investment plan in Latin America to strengthen its presence throughout the region. Initiatives Globant is pursuing as part of the investment plan include:

• A strong expansion in Brazil, and create an Innovation and Emerging Technologies Center in San Pablo. From this Center, specialists will investigate possible new uses of emerging technologies like Artificial Intelligence and Quantum Computing to help Globant's clients leverage these trends both today and long-term. For the Brazilian market in particular, this Center will develop new AI applications for Salesforce solutions, one of Globant's foundations of growth in the country.
• The evolution of owned products based on AI to accelerate software development and enhance digital experiences. Globant X, the product and platforms division of Globant which currently contains the Augoor, MagnifAI, StarMeUp, and GeneXus platforms, will spearhead these developments.
• An enhanced commitment to regional talent with a hiring plan to add 20,000 new professionals over the next five years across 30 of Globant's development centers in Argentina, Brazil, Chile, Colombia, Costa Rica, Ecuador, Peru, Mexico, and Uruguay.

"We were born in Latin America, and believe that it is one of the strongest regions when it comes to innovation, talent, and creativity. Latin America is key for our global growth as a source of continuos improvement of our service offering," said Martín Migoya, Co-founder and CEO of Globant. "We want to expand our capacity for innovation and development of our AI-based offering, always to help organizations stay relevant and leaders in the future."

"Latin America is a  key market for our company and we want to strengthen our regional operation. In this regard, our new Emerging Technologies Innovation Center will drive development in various technologies, like AI, to guide our clients in a constantly evolving world," said Ignacio Iglesias, Chief Business Officer of Globant for Latin America.

Since its creation in 2003 in Argentina, Globant consolidates as one of the leading digital transformation companies in the region with global clients such as Google, Electronic Arts and Santander, among others. The company has more than 27,000 employees in 25 countries. A few weeks ago, Globant was named as a leader in the IDC MarketScape Worldwide Artificial Intelligence Services 2023 Vendor Assesment, confirming its value proposition in this new technology.

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 at scale.

• We have more than 27,000 employees and we are present in 25 countries and 5 continents working for companies like Google, Electronic Arts and Santander, among others.
• We were named a Worldwide Leader in AI Services (2023) and Worldwide Leader in CX Improvement Services (2020) by IDC MarketScape report.
• We were also 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.

Contact: pr@globant.com 

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SOURCE Globant

FAQ

What is Globant's investment plan in Latin America?

Globant announced a five-year, $1 billion investment plan in Latin America to strengthen its presence in the region.

What initiatives are included in Globant's investment plan?

The initiatives include opening an Emerging Technologies Innovation Center in Brazil, developing AI-based products, and hiring 20,000 professionals in the region.

What AI-based products is Globant developing?

Globant is developing products such as Genexus, MagnifAI, StarMeUp, and Augoor.

How many professionals does Globant plan to hire?

Globant plans to hire 20,000 professionals from the region over the next five years.

What is the purpose of the Emerging Technologies Innovation Center?

The Center will investigate new uses of emerging technologies like AI and Quantum Computing to help Globant's clients leverage these trends.