WPP invests $70m in minority stake in Globant
WPP has acquired 20% of Globant, an international technology services provider headquartered in Buenos Aires, for approximately $70m (£43m).
Sir Martin Sorrell: chief executive of WPP
Globant works for WPP client American Express, as well as WPP agencies JWT, Young & Rubicam, Grey, GroupM and Kantar. Its other clients include JP Morgan Chase, LinkedIn, Google and Coca-Cola.
Globant was launched in Argentina in 2003 and now employs 2,700 engineers, marketing specialists and designers in 21 offices across Latin America, the UK and the US.
WPP’s move comes within six months of it paying $540m to acquire all of AKQA and of rival Publicis Groupe paying $539m to acquire LBi, both technology and creative-focused agencies.
WPP claimed Globant was "unique" in that "it provides clients with both the infrastructure and technical support that drive digital marketing campaigns, combined with the creative and design skills usually found alone in digital agencies".
In 2011, Globant generated net revenues of $90m (£55m), AKQA generated revenues of $189m (£116m), and LBi, net revenues of €196.6m (approximately $255m).
Martin Sorrell, chief executive of WPP, said: "Partnering with Globant will allow our companies to increasingly provide our clients with insights and skills that will make their digital marketing efforts even more effective and simpler to manage, at both the front and back ends."
This article was first published on campaignlive.co.uk
Latest jobs Jobs web feed
- Brand Manager Radisson Blu Edwardian, London Competitive , South Kensington, London
- Head of Media, Marketing & Communications PGA Competitive, Sutton Coldfield, West Midlands
- Account Director- Exciting Online Content Marketing Company- Up to £70,000 plus OTE Cedar Scott Up to £70,000 basic (up to £90,000 OTE) plus share options, Central London
- ACCOUNT DIRECTOR/SENIOR ACCOUNT DIRECTOR - BTL/SP/Brand Experience - London - £45 - £55k plus bonus Judi Patton £45K-55K plus bonus, London/Greater London
- Senior Planning Director, International Agency, London, to £120k Fill Recruitment Ltd to £120,000, Central London
- Head of Customer Analytics - Consultancy Harnham £90000 - £100000 per annum + benefits, London
Integrated digital marketing offers huge opportunities to engage, servic...
Mobile marketing is coming of age, and the pace of change is now exponen...
With UK consumers spending an average of £1,083 a year online, int...
Conversational Mobile Marketing: Engage Customers and Empower Advocates (Expert Reports) External website
The pressure is on for marketers and mobile operators to embrace a strat...
As a nation, the UK is media and technology obsessed with over half of t...
All customers have the potential to become your brand advocates, driving...