WPP PLC acquires 20% stake in Globant for approximately $70M

theflyonthewall.com

WPP has agreed to acquire a 20% stake in Globant, a company that provides both technical expertise and design and creative capabilities in the development of software products that can be applied to digital marketing campaigns on a global scale. Globant’s net revenues for the year ended December 31, 2011 were $90M and net revenues for the six months to June 30, 2012 were $56.9M with total assets of $69M as of June 30, 2012. WPP will invest approximately $70M in acquiring the Globant stake.

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