Argentine technology services firm Globant has wrapped up a deal to acquire one of the United States’ fastest growing digital services startups, PointSource, for approximately US$28 million.
With around 80 employees, Raleigh, NC-based PointSource generated revenue of about $20 million in 2016. Its customers include Johnson & Johnson, Security First Insurance, Primerica, Kohl’s, and LabCorp.
Globant said PointSource employees are specialized in retail, supply chain, and insurance services solutions.
“The company’s unique focus on digital transformation and agile solutions will strengthen Globant’s goal of creating innovative software products,” said Martín Migoya, Globant CEO and co-founder.
PointSource, founded in 2004, creates websites and mobile sites for enterprises so they can launch their digital journey.
“PointSource blends the creative energy of an agency with the technology savvy of a development firm to build digital solutions that solve complex problems and change businesses,” Migoya added.
Reports say the company will continue operating independently as PointSource even after the deal is finalized.
Globant has been stocking up on digital assets for the past couple of years. This is the company’s fourth acquisition in the digital sector after it acquired British digital services firm WAE in May last year. Earlier in March, it purchased Seattle-based video streaming solutions maker Ratio.
Even as a software-focused outsourcing firm, Globant never believed in the idea of labor arbitrage, with its founders often emphasizing the need to become more innovative. Therefore, it has focused on developing software in emerging technologies, including cloud computing, gaming, and big-data.