Globant Acquires US-Based IT Services Consulting Firm Blankfactor
Globant, a company that specializes in providing services through digital technology, announced the acquisition of Blankfactor, an IT services consulting firm in the United States, specializing in the areas of Payments, Banking, and Capital Markets. The deal is pending customary closing conditions, including regulatory approvals.
Blankfactor was founded in 2016 by Michael Wear and Melody Pak, which quickly grew with strategy-led product engineering that was driven by deep vertical knowledge. The company has domain know-how in the cloud ecosystem with huge players like AWS, Google Cloud, Microsoft Azure, Snowflake, and Databricks. Blankfactor currently has more than 450 technology professionals with expertise ranging from COBOL to AI under its roof in offices located in the US, UK, Colombia, Romania, and Bulgaria.
The acquisition will help Globant strengthen its position in the financial services segment, one of the principal verticals the company serves. Blankfactor brings outcome-based delivery and domain expertise, which will complement the existing service lines available from Globant.
“We think the acquisition will allow us to do more for our clients as AI matures and affects industries," noted Martin Migoya, Co-founder and Chief Executive Officer at Globant. "I have always been in awe by the model of execution at scale in digital transformation that Globant represents," added Michael Wear, Founder and Chief Executive Officer at Blankfactor.
The deal is expected to supercharge the scale and impact of Blankfactor with Globant while remaining faithful to its core focus on consulting-led digital execution for the financial services industry. Company founders Michael Wear and Melody Pak will maintain leadership of the organization.
"We are very excited to welcome such an outstanding group of professionals with the passion and capability to dream as big as Globers do," said Martin Umaran, co-founder and Chief Corporate Development Officer at Globant.
The acquisition will bolster Globant's market position in the financial services industry and offer a winning combination for its existing and future clients.
