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Friday, January 27, 2023

Globant (NYSE: GLOB) Announces Acquisition of GeneXus

Globant S.A. (NYSE: GLOB) confirmed that it has inked an agreement to buy GeneXus which has earned a reputation as a famous company that developed a leading low-code platform extensively used in several industries. After this collaboration, GeneXus will step foot in a new era and certainly become the world’s most innovative low-code platform.

GeneXus, which has been in the market for over 30 years and is used by over 1,700 companies in Latin America and Asia, is a solid product that provides a world-class low-code platform augmented with Artificial Intelligence (AI) features in a user-friendly tool to create, develop, and maintain end-to-end solutions ready to run on all types of devices.

Additionally, GeneXus, founded in Uruguay in 1988, has an impressive client portfolio that includes large well-known corporations such as Mitsubishi Electric, Ita, Honda, Pan American Energy, and TV Azteca, among others, in key industries such as Financial Services, Retail, and Industrial & Manufacturing. Nicolás Jodal, CEO and Co-Founder of GeneXus, and his team will join Globant to continue the global expansion of GeneXus.

Furthermore, Globant became one of the first major digital firms to participate in a low-code platform as a tool for delivering faster and higher-quality digital transformations as a result of this transaction. Globant X, a specialized group in charge of productizing the Company’s most transformational tech into scalable platforms, will also be strengthened by GeneXus.

Globant X stated that it is delighted to welcome GeneXus to the Globant X family at a time when it is widening and bolstering its platform portfolio and entering new markets. Both company cultures will blend seamlessly and working with such a creative and talented group headed by Nicolás Jodal will be incredible.

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