Globant Plans $1B Investment In Latin America To Strengthen Footprint
Portfolio Pulse from Lekha Gupta
Globant SA (NYSE:GLOB) plans to invest $1 billion over five years in Latin America to strengthen its regional presence. The company will open an Emerging Technologies Innovation Center in Brazil and hire 20,000 people across its 30 development centers in Latin America. The aim is to accelerate the development of AI-based products. As of March 31, 2023, the company's cash and equivalents stood at $284.8 million.
August 10, 2023 | 5:20 pm
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Globant's $1 billion investment in Latin America could strengthen its regional presence and accelerate the development of AI-based products, potentially boosting its revenues and stock price.
The investment is expected to strengthen Globant's presence in Latin America, a region it considers key for its global growth. The opening of an Emerging Technologies Innovation Center in Brazil and the hiring of 20,000 people could accelerate the development of AI-based products, potentially leading to increased revenues and a higher stock price.
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