Capital Infusion Used to Continue International Expansion
Buenos Aires, Argentina – January 8, 2007 - Globant, a leading global provider of IT services and solutions, today announced that it has received a significant investment from Bigwood Capital LLC. The funds from the investment will be used to elevate the company to the next level by expanding its U.S. presence as well as to continue to enhance global operations.
Bigwood Capital LLC is an investment firm focused on providing growth equity capital to small and medium-sized businesses. The firm manages and invests capital from a selected group of recognized international executives and investors, and is led by Michael Marks, former Chairman and CEO of Flextronics International and Member of Kohlberg Kravis Roberts & Co.
This second round of financing has allowed Globant to open two U.S. offices in Palo Alto, CA and Phoenix, AZ as well as add key personnel to its management and sales teams. Craig Ramini joined the company as Vice President of Client Experience for the West Coast and Guillermo Marsicovetere as Vice President of Business Development Units.
According to CEO Martin Migoya, “This infusion of capital will help to drive our aggressive strategic expansion and revenue goals for 2008. We will now be able to scale our service delivery and business development areas while continuing to invest in innovative services to bring to our customers.” He adds, “We have demonstrated our commitment to deliver exceptional service to our customers with the opening of our new U.S. offices as well as the addition of these seasoned sales professionals.”
Globant is one of the fastest growing global IT services companies in Latin America. Its flexibility and human capital quickly made Globant a global player in the extremely competitive IT market, with world-class clients, specially located in USA and Europe.
Globant offers a wide portfolio of solutions –from software development and infrastructure management, to software globalization– and is extremely experienced in open source technologies and agile methodologies. Globant’s teams provide services internationally, always backed up by their offices in Buenos Aires, Tandil and La Plata in Argentina, Palo Alto, Phoenix and Boston in the U.S., Mexico City and London.
About Bigwood Capital
Bigwood Capital LLC is an investment firm with a focus on providing growth equity capital to small and medium-sized businesses across a variety of industries and geographies. The firm manages and invests capital from a selected group of recognized international executives and investors, and is led by Michael Marks, former Chairman and CEO of Flextronics International and Member of Kohlberg Kravis Roberts & Co. Bigwood is headquartered in Palo Alto, CA and currently has approximately $200mm of assets under management.