Argentina’s software giant Globant acquired a majority stake in American creative agency Gut in what seems like a move to bolster its marketing services revenues.
Miami-based Gut was recently named as Cannes Lions Independent Network of the Year, an impressive feat attributed to its 35 award-winning campaigns.
GUT is now part of @Globant! The Cannes Lions 2023 Agency of the Year is now part of our wild dream of reinventing our industry. Today, visionary tech and gutsy creativity are joining forces. Let’s do this @anselmoramos and @gastonbigio! #SeekReinvention https://t.co/bNX93tgjPO pic.twitter.com/LR4FuAqNNt
— Martin Migoya (@migoya) November 28, 2023
Gut employs nearly 500 people globally and operates three studios in key Latin American markets: Buenos Aires, São Paulo and Mexico City.
While being around for only five years, Gut’s client list includes multinational giants such as AB InBev, Mercado Libre, Google, Kraft Heinz, Coca-Cola and Tim Hortons.
In recent years, Globant has made strategic acquisitions of agencies such as Habitant in Spain, Vertic in Denmark, Ad-Bid in Colombia and KTBO in Mexico. While these agencies were eventually folded into Globant’s structure, Gut will continue to operate independently, with its current CEO remaining at the helm.
“We have already merged these teams with Globant’s own Digital Marketing and Digital Sales Studios to create a new end-to-end Studio Network with an agency approach enhanced with AI and diverse and talented professionals. Gut will play a critical role in being part of this Network”, stated Martin Umaran, Chief Corporate Development Officer at Globant.
The Argentine firm has not disclosed the financial terms of the acquisition, including the size of the stake purchased and the value of the transaction.