Globant Acquires Majority Stake In Walmeric To Drive Digital Sales

Digitally native technology services company Globant SA GLOB acquired an 80% stake in Walmeric.
The financial terms of the transaction remain undisclosed.
Walmeric is a firm specializing in developing marketing automation technology combining lead management, online marketing, and sales enablement.
The agreement includes an option to purchase the remaining minority stake through a three-year term.
The first product-oriented acquisition strengthens Globant's portfolio of digital marketing and digital sales.
Walmeric offers a multi-channel marketing platform focused on lead to revenue management with B2B2C expertise. Their main product is the cloud-based platform (SaaS) Delio, a complete lead management platform that helps companies to track and qualify leads, discover their interests, and contact them with all that information to convert them efficiently into sales.
Globant held $195.6 million in cash and equivalents as of March 31, 2021.
Price action: GLOB shares are down 2.45% at 217.52 on the last check Thursday.