Globant Announces $1 Billion USD Investment in Latin America over Five Years

Globant Announces $1 Billion USD Investment in Latin America over Five Years

Software and IT services provider Globant (NYSE: GLOB) last month announced a five-year, $1 billion USD investment in Latin America to strengthen its presence throughout the region, includes plans to hire 20,000 people.

The Buenos Aires-based company characterized its hiring plan, which could nearly double its current headcount of around 27,000 workers, as “an enhanced commitment to regional talent” that will be spread across 30 of Globant’s development centers over five years in Argentina, Brazil, Chile, Colombia, Costa Rica, Ecuador, Peru, Mexico, and Uruguay.

A major focus of the investment will also include a “strong expansion” in Brazil, where it will launch an Innovation and Emerging Technologi, s Center that will develop AI applications for Salesforce solutions and “investigate possible new uses” of artificial intelligence, quantum computing, and other emerging technologies

More generally, the company, which was founded in Argentina’s capital in 2003, announced that its Globant X division will also focus on the “evolution of owned products based on AI to accelerate software development and enhance digital experiences.” Currently, Globant X already contains the Augoor, MagnifAI, StarMeUp, and GeneXus platforms.

“We were born in Latin America, and believe that it is one of the strongest regions when it comes to innovation, talent, and creativity,” said Martín Migoya, co-founder and CEO of Globant, in the announcement. “Latin America is key for our global growth as a source of continuous improvement of our service offering. We want to expand our capacity for innovation and development of our AI-based offering, always to help organizations stay relevant and leaders in the future.

Photo: Globant’s office in Mexico City (Credit: Globant)

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