Benzinga | Jul 8, 2021 11:33AM EDT

Globant Acquires Majority Stake In Walmeric To Drive Digital Sales

* Digitally native technology services company Globant SA (NYSE: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.