Seeking Alpha

Argentine software/IT services firm Globant files for $86.3M IPO

  • Globant, which will trade under the symbol GLOB, develops software and provides related IT services for clients such as Google, Disney, LinkedIn, and Electronic Arts. (F-1)
  • The company is based out of Buenos Aires, and has "delivery centers" in 13 U.S. and South American cities.
  • Globant posted 1H revenue of $71.7M (+26% Y/Y), and net income of $8M. Gross margin was 36.4%. In 2012, the company had revenue of $128.8M (+43% Y/Y), and a net loss of $1.3M.
  • Top ad agency WPP owns a 21.5% stake.
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