Globant expands on innovation through the acquisition of Brazil-based TerraForum

Brazilian IT company TerraForum reinforces Globant´s expertise in innovation, and allows the company to expand its global presence

São Paulo, Brazil, October 29th, 2012 - Globant, a leader in the creation of innovative software products that appeal to global audiences, today announced the acquisition of Brazil-based TerraForum (http://www.terraforum.com.br), which will allow Globant to reinforce its position as a leader in innovation, engineering and design, while expanding its reach to the Brazilian market.

With this acquisition, Globant adds deep expertise in innovation leveraging TerraForum experience, customer portfolio and qualified team in São Paulo, Rio de Janeiro, Curitiba and Belo Horizonte. The acquisition will also open the door to the Brazilian market for Globant. Together with TerraForum, the company will start to provide services to local companies, taking advantage of growth opportunities in one of the largest markets in the world.

TerraForum was founded in 2002 by José Claudio Terra, a well-known specialist in innovation, author of several books and articles around the topic. Nowadays, the organization has a wide range of clients in Brazil, including companies like HSBC, Petrobras, Unilever, Vale and Pernod-Ricard. TerraForum´s business objectives and portfolio of services –which includes Innovation and Knowledge Management Consulting, Digital Marketing & Social Media and Software Development– are aligned with Globant´s specialization in new and emerging technologies, and both companies bring together engineering, design and innovation to create software products for global audiences. TerraForum´s more than 65 employees will join Globant´s team, working from TerraForum’s development centers in São Paulo, Rio de Janeiro, Curitiba and Belo Horizonte.

“We are really excited about TerraForum´s acquisition, since it shows our commitment to our global vision and also opens the door to a huge market that was still unexplored by us. In Brazil we will be able to offer our services together with the prestigious TerraForum´s team, building software products that are innovative and appealing for global audiences. The acquisition will bring more opportunities for our Globers, our company and our clients”, commented Martin Migoya, Globant CEO & Co-founder. He added: “Since we founded Globant, we have sought to create an organization that challenges the status quo, offering a new vision of how technology is conceived. With this acquisition, not only will we be creating more job opportunities for technology professionals, but we will also be moving forward towards our goal of building a multinational company, opening and conquering markets all over the world”.

“We are excited to join the Globant team, where we will find plenty of challenges and new opportunities with companies like EA, LinkedIn and Google. We will also be able to provide more and better services for our customers, thus realizing the full potential of our combined efforts to produce outstanding experiences for larger audiences”, stated José Claudio Terra, Terra Forum Founder and Globant Terra Forum Brazil Executive Director.

“TerraForum and Globant share the same culture of innovation and challenge of the status quo. Globant´s global vision, creativity and growth record, combined with the experience and talent of both companies, will allow us to augment our services and relationships with customers,” pointed out Martin Umaran, Globant Co-founder and Chief Corporate Business Officer. “Brazil is a highly attractive market for us and we are confident we will be able to enrich the services TerraForum is already providing”.

About Globant
Globant is the Latin American leader in the creation of innovative software products that appeal to global audiences. For us, that means we are the place where the best engineers team up with art design studios and innovation labs to deliver a superb user experience. In only 9 years, we have created a company that:

• Has more than 2,500 professionals working for companies like LinkedIn, JWT, Google and CocaCola, among several others.

• Was selected as Endeavor Entrepreneur (2005)
• Was named among the top 10 product engineering vendors (2011) by Global Services
• Was included in the 2010 Cool Vendor in Business Process Services Report by Gartner
• Was featured as a case study of Harvard, MIT, Stanford and others

For more information, visit www.globant.com.