Globant (NYSE: GLOB), a digitally native technology services company, announced today that it has entered into a definitive agreement to acquire GeneXus, a renowned company that developed a leading low-code platform extensively used in several industries. With this operation, Globant became one of the first leading digital players to invest in a low-code platform as a tool to deliver faster and high quality digital transformation. GeneXus will also strengthen the offering of Globant X, a dedicated group in charge of productizing the Company’s most transformative tech into scalable platforms.
With over 30 years in the market and being used by 1,700+ companies in Latin America and Asia, GeneXus is a solid product that offers a world-class low-code platform enriched with Artificial Intelligence (AI) features in a friendly tool to create, develop and maintain end-to-end solutions ready to run in all sorts of devices.
“We are thrilled to add GeneXus to our platform´s portfolio. Low-code platforms can foster business reinventions as they enable organizations to create new applications and solutions faster. This is absolutely critical in this era where technology evolves to meet end-users expectations”, said Martín Migoya, CEO and Co-Founder of Globant. “We are proud to have Nicolás Jodal, GeneXus CEO and Co-Founder, join our team as we keep expanding GeneXus globally with his leadership and knowledge and our deep experience in AI and presence in 18 countries”, he added.
Founded in Uruguay in 1988, with 150+ professionals, GeneXus has developed an impressive client portfolio including large well-reputed corporations as Mitsubishi Electric, Itaú, Honda, Pan American Energy, and TV Azteca, among others, in key industries such as Financial Services, Retail, and Industrial & Manufacturing. Nicolás Jodal, CEO and Co-Founder of GeneXus, and his team will join Globant to continue expanding GeneXus globally.
“We are proud to partner with Globant. Together, GeneXus will enter a new era and definitely become the world’s most innovative low-code platform”, said Nicolás Jodal, Co-Founder and CEO of GeneXus.
“I am very excited about this agreement. Globant is the ideal strategic partner to extend automatic software development and keep on simplifying the creation and maintenance of software for clients worldwide”, said Breogán Gonda, Co-Founder and Chairman of GeneXus.
Guibert Englebienne, Co-Founder of Globant and President of Globant X, said: “We welcome GeneXus to the Globant X family with perfect timing, when we are expanding and solidifying our platform portfolio and reaching new markets. Both company cultures will fit seamlessly and partnering with such an innovative and talented team led by Nicolás Jodal will be amazing”.
Completion of this transaction is subject to regulatory approvals and other customary closing conditions.