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WPP
WPPGY, the world's leading communications services group, has
agreed to acquire a 20% stake in Globant S.A. (“Globant”). Globant is an
emerging worldwide leader in providing both technical expertise and design and
creative capabilities in the development of software products that can be
applied to digital marketing campaigns on a global scale.
Headquartered in Buenos Aires, Globant is a rapidly growing business employing
2,700 engineers, marketing specialists and designers in 21 offices across 14
cities in Argentina, Brazil, Uruguay, Colombia, the United States and the
United Kingdom. The company's approach is unique in that it provides clients
with both the infrastructure and technical support that drive digital
marketing campaigns, combined with the creative and design skills usually
found alone in digital agencies.
Globant's net revenues for the year ended 31 December 2011 were US$90 million
and net revenues for the six months to 30 June 2012 were US$56.9 million with
total assets of US$69 million as of 30 June 2012. WPP will invest
approximately $70 million in acquiring the Globant stake.
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