Globant acquire Avanxo

The acquisition closed in February 2019, after completing certain requirements established in the purchase agreement.

Globant (NYSE: GLOB), a digital native company that offers innovative technology services, announced the signing of an agreement for the acquisition of Avanxo, a leading business transformation company with a presence in the United States. Brazil, Mexico, Colombia, Peru and Argentina.

With this acquisition, Globant continues to expand its capabilities to create digital experiences for large organizations around the world, offering high-quality services and expanding its extensive experience in Cloud processes and technologies.

Diego Maldonado, CEO and Founder of Avanxo, said: “We are happy to be part of Globant. It is a world-renowned leader in the development of digital and cognitive transformations, with an incredible ability to incorporate Cloud and improve customer experience and success. Globant shares our core values focused on talent development, employee satisfaction, alignment with our partners and customer success. By joining Globant, we can expand our skills and provide a vehicle for the growth of our employees and partners.”

Interview with Heidi Daniels-Roque at Wakefield Quin

Please tell me about your involvement in the deal?

Wakefield Quin, a leading commercial law firm in Bermuda, represented the shareholders of Avanxo (Bermuda) Limited, a privately held company, in the recent sale of 100% of their interest in Avanxo to Global Espana S.A. I have been a part of the corporate team at Wakefield Quin for ten years and have considerable experience carrying out transactions of this nature. In this matter, I was able to draw on input from Wakefield Quin colleagues Roderick Forrest, Director, and Marlies Smith, Senior Chartered Corporate Secretary.

As with any transaction of this nature, there are various challenges in relation to meeting client deadlines for closing when coordinating between advisers in numerous jurisdictions.

Why is this a good deal for all involved?

Avanxo was incorporated over nine years ago, on behalf of a longstanding Wakefield Quin client. Ananxo has developed into a leading cloud transformation company with presence in the United States, Brazil, Mexico, Colombia, Peru and Argentina.  The buyer’s group was founded in Argentina with principal markets including the United States and the United Kingdom (NYSE: GLOB).

Bermuda is an ideal jurisdiction in which to base a company operating such a business throughout numerous markets.  Bermuda laws, under which the Company is incorporated, ensured that the transaction took place under a sophisticated and developed legal regime, implications of which were clearly understood by local counsel in Avanxo’s various operating jurisdictions.

What challenges arose? How did you navigate them?

As with any transaction of this nature, there are various challenges in relation to meeting client deadlines for closing when coordinating between advisers in numerous jurisdictions.  Bermuda’s exchange control regulator, the Bermuda Monetary Authority, and its corporate laws function such that feedback and response times are expedited.  Wakefield Quin was pleased to facilitate tight deadlines in the transaction’s timeframe, minimizing stress for our client and overseas advisers, and ensuring a smooth closing.

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