An Argentine software giant wants to grow in Asia by buying companies

Argentine software giant Globant plans to continue to grow through acquisitions giving it access to new markets and technologies, said its executive director after buying one of the largest technology companies in Uruguay.

The company is looking for continues to grow in Asia and Europe, said Martín Migoya in an interview. The purchase of GeneXus, one of the oldest software companies in Uruguay, is part of the company’s strategy invest in artificial intelligence to speed up software development.

It will also deepen the Globant’s reach in Asia, as a third of the Uruguayan company’s clients are in JapanSaid Migoya.

Today, Buenos Aires -based Globant, which makes software and makes technology for global companies like Google, Electronic Arts and Banco Santander, is looking for more purchase objectives. The company is after acquisitions that will help its growth in priority locations or Expand your reach into new areas of business.

“The ones we bought were very strategic,” Migoya said. “They have nothing to do with volume, because next to our invoice, any other number is small. But we believe that its impact in terms of multiplying connections with other clients it’s going to be big. “

Last year, Globant registered for the first time annual revenue of $ 1 billionand expect that sales are up 70% this year. Migoya declined to disclose the cost of the GeneXus purchase.

Metaverse and cryptocurrencies

As for topics of interest, the company is looking for potential targets in the online world known as the metaversegames, cryptocurrencies and artificial intelligence, but said they could change.

The company has also made acquisitions in the cryptocurrency space, including the purchase of blockchain specialist Atix Labs in October.

“The crypto space is one of the biggest disruptions we have seen the internet since the invention, ”said Migoya. “Is a paradigm change how the world will store its value and how it will be measured. I trust on a personal level and I also trust that it is one of the best value reserves in the world today”.

In the sectors with the highest revenue potential, he emphasized metaverse-related projects or digital transformation processes that gained momentum during the coronavirus pandemic.

Distant employment and growth

Migoya said Globant will allow employees to work far insecurewhile also continuing to invest in its offices around the world for those who choose face to face

The company has offices in 18 countries and on Thursday announced the launch of its new office in Santiago, as well as the commitment to invest US $ 40 million over the next three years in that country.

He added that operations were less affected by the war in Ukraine, although the company supports its employees in Belarus and offer relocation.

A data security incident last month had limited or no impact on the company, he added.

NE