Blankfactor is a U.S.-headquartered
product engineering firm specialized in Payments, Capital Markets,
Wealth and Retirement, and Fintech in North America and the UK, with extensive
experience in card issuing, merchant acquiring, and securities
finance.
Blankfactor has grown rapidly by leveraging
highly specialized consultants coupled with deep vertical expertise
in the financial services sector. The company also holds extensive
expertise in AWS, Google Cloud, Microsoft Azure, Snowflake, and
Databricks
MIAMI, Sept. 10, 2024 /PRNewswire/ --
Globant (NYSE: GLOB), a digitally native technology
services company, announced today that it has entered into a
definitive agreement to acquire Blankfactor, a U.S. based IT
services consulting firm specialized in Payments, Banking, and
Capital Markets with a successful track record across the Financial
Services industry and extensive experience in card issuing,
merchant acquiring, and securities finance. The company specializes
in delivering consulting-led product engineering, data engineering,
and enterprise AI solutions. Completion of this transaction is
subject to customary closing conditions including regulatory
approvals.
Founded by Michael Wear and
Melody Pak, Blankfactor has grown
rapidly since its kick-off in 2016 through strategy-led product
engineering with deep vertical knowledge. Blankfactor also holds
profound expertise within the cloud ecosystem with AWS, Google
Cloud, Microsoft Azure, Snowflake, and Databricks. Leveraging its
effective balance of U.S. and Global delivery, the company
currently develops solutions for some of the strongest brands in
the financial sector, including six out of the top ten payment
processors and many of the world's largest banks and asset
managers.
Headquartered in Miami,
Blankfactor's offices in the U.S., U.K., Colombia, Romania, and Bulgaria are home to more than 450 technology
professionals with talent ranging from COBOL to AI. Blankfactor's
speciality is in outcome-based delivery, and its
consultant-engineers are subject matter experts who offer both
domain expertise and the hands-on execution necessary to deliver
business-critical solutions.
"Blankfactor brings incredible experiences and best practices
within the financial services space, which is a key vertical for
Globant. As AI develops and impacts industries, we want to expand
Globant's visions and knowledge in order to provide a continuously
evolving service to our clients," said Martin Migoya, Co-Founder and CEO of
Globant.
"I have always admired Globant as a model of execution at scale
in digital transformation, with exceptional talent around the
world. With the scale and depth of Globant, I'm looking forward to
achieving greater outcomes for our clients," said Michael Wear, Founder and CEO of
Blankfactor.
"Blankfactor is a great organization with world-class clients
and has an exceptional track record, delivering specialized value
propositions in a crucial industry for our corporate roadmap. They
join Globant to consolidate the Payments Studio in North America at a special moment when the
Financial Services industry is undergoing a massive reinvention,"
said Nicolás Kaplun, Chief Business Officer of Globant in
North America.
"Blankfactor's consulting-led engineering capabilities, combined
with Globant's scale and breadth of services, delivers a winning
combination for our current and future clients," said Asif Ramji, Chairman of Blankfactor.
"We are thrilled to welcome such a talented group of
professionals with the passion and capability to dream as big as
Globers do. They are a perfect fit for our current expansion
strategy," said Martin Umaran,
Co-Founder and Chief Corporate Development Officer of Globant.
Company founders Michael Wear and
Melody Pak will continue at the
helm, and Blankfactor management and their respective teams look
forward to supercharging their scale and impact with Globant, while
remaining true to Blankfactor's singular focus on consulting-led
digital execution for the financial services industry.
_____________
About Globant
At Globant, we create the digitally-native products that people
love. We bridge the gap between businesses and consumers through
technology and creativity, leveraging our experience as an AI
powerhouse. We dare to digitally transform organizations and strive
to delight their customers.
- We have more than 29,100 employees and are present in 33
countries across 5 continents, working for companies like Google,
Electronic Arts, and Santander, among others.
- We were named a Worldwide Leader in AI Services (2023) and a
Worldwide Leader in CX Improvement Services (2020) by IDC
MarketScape report.
- We are the fastest-growing IT brand and the 5th strongest IT
brand globally (2024), according to Brand Finance.
- We were featured as a business case study at Harvard, MIT,
and Stanford.
- We are active members of The Green Software Foundation (GSF)
and the Cybersecurity Tech Accord.
Contact: pr@globant.com
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For more information, visit www.globant.com.
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. The expectations related to the businesses of Globant and
Blankfactor may differ from their actual results and consequently,
you should not rely on these forward looking statements as
predictions of future events. In some cases, you can identify
forward-looking statements by terminology such as "believe," "may,"
"will", "estimate," "continue," "anticipate," "intend," "should,"
"plan," "expect," "predict," "potential," or the negative of these
terms or other similar expressions. These forward-looking
statements include, without limitation, expectations with respect
to the anticipated benefits of the proposed acquisition. These
forward-looking statements involve significant risks and
uncertainties that could cause the actual results to differ
materially from the expected results. Most of these factors are
outside of the control of Globant and Blankfactor and are difficult
to predict. Factors that may cause such differences include, but
are not limited to: (1) the ability of the parties to complete the
proposed acquisition; (2) the risk that the conditions to the
closing of the acquisition are not satisfied in a timely manner or
at all, (3) the risk that disruption from the transaction
materially and adversely affects Blankfactor's business and
operations; (4) restrictions during the pendency of the transaction
that impact Blankfactor's ability to pursue certain business
opportunities or other strategic transactions; (5) Globant's
ability to recognize the anticipated benefits of the proposed
acquisition, (6) costs related to the proposed acquisition, (7)
Globant's ability to successfully grow Blankfactor's business; (8)
potential adverse reactions or changes to business relationships
resulting from the announcement, pendency or completion of the
proposed acquisition; (9) the ability of Globant to retain and hire
key Blankfactor employees; (10) changes in applicable laws or
regulations, (11) the demand for Blankfactor's services together
with the possibility that Blankfactor may be adversely affected by
other economic, business, and/or competitive factors; and (12)
other factors discussed under the heading "Risk Factors" in our
most recent Form 20-F filed with the Securities and Exchange
Commission and any other risk factors included in subsequent
reports on Form 6-K. Because of these uncertainties, you should not
make any investment decision based on these forward-looking
statements. Except as required by law, we undertake no obligation
to publicly update any forward-looking statements for any reason
after the date of this press release whether as a result of new
information, future events or otherwise.
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