Business
WPP & Globant Announce Secondary Offering
WPP & Globant Announce Secondary Offering.
About this update from Wpp Plc
[{"type":"text","content":"\n \nRNS Number : 0194S WPP PLC 20 June 2018 \n\n\n\n\nFOR IMMEDIATE RELEASE\n\n\n20 June 2018\n\n\n\n \n \nWPP PLC (\"WPP\") \n \nGlobant and WPP Announce the Commencement of a Secondary Offering of Globant Shares by WPP\n \n \nWPP plc (WPP.L) (\"WPP\") and Globant S.A. (NYSE: GLOB) (\"Globant\") announced today the commencement of a secondary offering of 5,815,259 common shares of Globant S.A. (NYSE: GLOB) (\"Globant\") by its subsidiary WPP Luxembourg Gamma Three S.à r.l. (\"WPP Luxembourg\"). WPP Luxembourg has granted the underwriters an option to purchase an additional 872,289 common shares of Globant at the public offering price. None of Globant, its management or any of its other shareholders is offering any common shares, and Globant will not receive any proceeds from the sale of the common shares offered.\n \nWPP Luxembourg's aggregate ownership interest of approximately 18.7% in Globant was acquired through purchases of shares from Globant's shareholders in December 2012, a private placement in January 2013 and Globant's initial public offering in 2014. Following WPP's recent review of its minority investments, it has decided to sell its remaining stake in Globant. \n \nSince WPP's initial investment, Globant has grown to more than 6,900 employees in 12 countries in Latin America, the United States, Europe and Asia. In 2014, Globant listed on the NYSE, and is one of the few Latin American technology companies to undertake an IPO in the United States. \n \n\"Globant is extremely well positioned to solve the challenges facing today's organizations, with a strong focus on delivering digital and cognitive transformation, based on innovation, design and deep knowledge of the latest technologies, including AI, Cloud, UX and Agile\", said Martin Migoya, Globant CEO & Co-Founder.\n \n\"Since our initial investment, Globant has experienced significant growth and has twice been named a Worldwide Leader in Digital Strategy Consulting Services[1]. We wish Martin Migoya and his team well for the future and look forward to continuing our business relationship with Globant\", said Andrew Scott, Joint COO of WPP.\n \n\"WPP's investment in Globant has been very successful and we are excited about the future of our business ...