Globant (GLOB) Acquires Blankfactor

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.

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