Globant has filed for an IPO.
Yesterday, the Argentine software solutions company filed with the SEC with plans to raise up to US$86.25 million in its initial public offering, though it initially filed confidentially at the start of the year. Globant will list on the New York Stock Exchange as GLOB. J.P. Morgan, Citi and Credit Suisse are the joint bookrunners on the deal.
Should things go as planned, Globant will become Latin America’s second tech giant to hit the stock market, following MercadoLibre, which turns 14 this month. Note: both companies were born out of Buenos Aires.
Given Globant’s trajectory, it doesn’t come as a complete shock that an IPO is on the horizon. The company is a global leader in software and innovation, on the forefront in areas like gaming, big data, enterprise consumerization, social networks, mobile, cloud computing and infrastructure. Founded in 2003, Globant brought in US$144 million in sales from June 30, 2012 to June 30, 2013.
This filing tops off what’s been a big month for Globant – which we’ve been following closely. Just a couple of weeks ago, we spoke with Globant Co-founder and CTO Guibert Englebienne about the company’s perspective and evolution. He touched on a wide variety of topics, including the dynamics between technology and advertising, WPP’s 20% stake acquisition, and his company’s unique strategy for attracting talent.
And last week, Globant announced its investment in second screen platform I AM AT, made via its investment fund, Vivid Growth. This is its second deal, as it previously backed Ventas-Privadas.com.
Most of the details of Globant’s upcoming initial public offering remain to be seen, and pricing terms have not been disclosed. This is very exciting news for Latin America’s tech ecosystem. It’s especially big for Argentina, which has proven itself as a leader in producing some of the region’s biggest success stories and deals (another recent example: Restorando).