Globant, a company specializing in technology solutions, has acquired Iteris Holding, a Brazilian consultancy firm focused on digital transformation. Financial details of the deal were not disclosed.
This is technology M&A deal number one that ChannelE2E and MSSP Alert have covered so far in 2023. See more than 2,000 technology M&A deals for 2023, 2022, 2021, and 2020 listed here.
Globant, founded in 2003, is based in Luxembourg and San Francisco. The company has more than 25,900 employees across 20 countries. Globant’s areas of expertise include AI, blockchain, IoT, big data, digital content , gaming, design, UX, Agile, mobile, scalable platforms, cloud ops, cybersecurity, future of organizations, product acceleration, sustainability, life sciences, healthcare, data, consultancy, metaverse, enterprise, SAP, Oracle, ServiceNow, media and entertainment, airlines, staffing, low-code, super apps and process optimization.
Iteris, founded in 2009, is headquartered in São Paulo, Brazil. The company has 757 employees according to LinkedIn. Iteris specializes in Business Intelligence, Portals and Collaboration, Business Process Management and Automation, Workflows, PowerBI, Data Integration, SharePoint, Analytics, Nintex Workflow, QlikView, Tableau, APIs, Azure, AWS, Qlik Sense, .
Globant’s Growth Plans
Globant bills itself as a digital reinvention provider. The company has over 27,500 employees around the globe and collaborates with clients like Google, Electronic Arts, and Santander.
This acquisition is aimed at bolstering Globant's presence in Brazil by integrating Iteris' local digital capabilities and client base.
Globant is no stranger to M&A, and has been in rapid growth mode over the last few years. In 2023, the company acquired Vertic, a Copenhagen- and New York-based life sciences and B2B creative consultancy. It also bought ExperienceIT in April 2023.
In October 2022, Globant acquired Italian digital transformation consultancy Sysdata.
Globant Acquires Iteris: Executive Insight
Martín Migoya, co-Founder and CEO, Globant, commented:
"We are pleased to integrate the Iteris team into Globant. This acquisition is part of our strategy to grow our operations in Brazil, recognizing the market's potential. It aligns with our commitment to enhancing our service offerings in the region."
Fernando Riva, co-founder, Iteris, stated:
"Over the years, Iteris has established a record of delivering quality services. Joining Globant represents a new phase for our company, offering new opportunities for our clients and team members."
Ignacio Iglesias, chief business officer in Latin America, Globant, based in São Paulo, said:
"Brazil is an important market for Globant in Latin America. With this acquisition, we aim to strengthen our teams with additional digital transformation projects and specialist expertise."
Martín Umaran, co-founder and chief corporate development officer, Globant, said:
"This acquisition reflects a shared commitment between Globant and Iteris to digital transformation and a culture emphasizing diversity, inclusion, and equality. We believe this partnership will effectively support our expansion in Brazil."
