Technology consultancy Globant picks up Latin player Avanxo

21 January 2019 Consultancy.lat

Buenos Aires headquartered Globant has acquired Avanxo, a technology consultancy with a strong regional foothold in Latin America. The bolt-on adds a team of around 300 digital consultants and IT professionals across offices in Colombia, Brazil, Mexico, Peru, Argentina and the United States. 

"Avanxo shares our vision on how to deliver digital and cognitive transformations,” said Martin Migoya, Globant’s chief executive and co-founder. "Avanxo’s team complements our model, and we are confident that this acquisition will help us propel our positioning as leaders in the digital and cognitive arena.” 

Founded in 2003, Globant is one of South America’s largest success stories in the technology professional services space. After a decade of growth in Argentina and the US, the company launched an international expansion drive. M&A played an integral part of the firm’s buy-and-build strategy, with Avanxo being the seventh major acquisition since 2011. In that year, the stock-listed company (New York Stock Exchange) acquired San Francisco-based Nextive, and in subsequent years TerraForum (Brazil), Huddle Group (Latin America, US and UK), Clarice Technologies (US and India), PointSource (US) and Ratio (US) were all integrated into the firm’s ranks. 

In Globant’s latest merger & acquisition chapter, Avanxo both broadens and deepens the firm’s suite of digital transformation services. “Avanxo holds key partnerships with Salesforce, Amazon Web Services, Google and Informatica,” explained Globant co-founder Martín Umaran, “expanding our cloud-based working service offering.” Since inception, Avanxo has implemented over 450 cloud projects, and in the process the IT consultancy has received several recognitions for its work, including being named a platinum Salesforce consulting partner, a Salesforce partner of the year for Latin America in 2016, and a winner of the Amazon Web Services (AWS) Deliver award. 

Technology consultancy Globant picks up Latin player Avanxo

Clients that Avanxo has served include large brands such as ABInBev, Allianz, Audi, Samsung, as well as major regional companies such as Sulamerica, Ecopetrol, Sika, Terpel, La Meridional and Sodimac. 

Commenting on the joining of forces, Avanxo’s founder and chief executive Diego Maldonado said: "We are thrilled to become part of the Globant team. Globant is a leader in digital and cognitive transformations, recognized worldwide for its ability to incorporate cloud into its deliverables to enhance customer experience and success. Together, we will be able to expand our capabilities.” The leader added that the blending of both organizations will also offer growth opportunities for the firm’s employees. “Globant shares our core values focused on talent development and employee satisfaction.” 

Following the integration of Avanxo, which is expected to close next month, Globant will have over 6,500 employees generating more than $420 million in fees. 

In other recent deals in Latin America’s professional services industry, Brazilian risk management consultancy GoOn was acquired by US-based FICO, and last year, Accenture completed the purchase of Brazilian marketing agency New Content. In Argentina, Goldemberg Saladino Hermida Rolando & Asociados, a Buenos Aires based firm with over 100 staff, joined the international network of Andersen Global.

BDO adds professional services firm in Bolivia to network

11 February 2019 Consultancy.lat

Global professional services firm BDO has expanded its footprint in Latin America with the addition of a new member firm in Bolivia. 

The firm, trading as KPI Auditores y Consultores, was founded in 2010 and is managed by a team of seven partners, with managing partner Marcelo Berthin at the helm. Six of the new firm’s seven partners have a background at BDO, while the group also bring experience at tier-one accounting and consulting firms including EY, PKF and PwC to its new parent. KPI, previously affiliated with rival network Antea, which it joined in 2014, has been rebranded as BDO Bolivia. 

“BDO Bolivia’s goal is to deliver outstanding audit, financial advisory, tax, consulting, and digital services to clients,” said Berthin, who has been leading the firm since 2014, after serving a large bank, the United States Agency for International Development (USAID; a US agency that battles extreme global poverty) and EY, where he spent a decade in the firm’s audit department. While the firm works for clients across a range of sectors, its focus lies on clients in manufacturing, mining, not-for-profit, investment services and agriculture.

BDO adds professional services firm in Bolivia to network

According to Berthin, formerly KPI Auditores y Consultores will be able to benefit from BDO’s global reach – the world’s fifth largest accounting group has over 80,000 employees in 160+ countries – and the cross-border work which flows out of the network. “The recent increase in business enquiries from the UK, Germany, Panama, Chile and Brazil that we’ve received through BDO’s global organisation confirm this and points to further expansion for BDO in Bolivia.”

He added that the local teams based in La Paz (headquarter) and Santa Cruz will also be able to tap into BDO’s deep industry and functional expertise.

Commenting on the expansion in Bolivia, Albert Lopez, BDO’s Regional CEO for the Americas, said: “I am very pleased to welcome a leading firm in Bolivia to BDO. With significant experience in Bolivia, servicing national and international companies and institutions, the team have an established reputation that will launch BDO onto new paths of growth in Bolivia. The new firm’s ability to provide integrated solutions to its clients in the country will, when combined with BDO’s global reach, see business coming in from the wider Latin American region and beyond.”

Across Latin America, BDO has more than 5,100 professionals working from 63 offices in 23 countries. The firm’s largest offices are located in economic hotspots such as Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Paraguay, Peru and Uruguay. 

Late last year, professional services firm Andersen Global touched in Bolivia with the addition of Tufiño Villegas to its network. The tax and legal advisory was founded in 1995 and has offices in capital city La Paz, Santa Cruz and Cochabamba.