Globant acquires Blankfactor, expands financial services expertise in U.S.
FLORIDA, UNITED STATES — Digitally native technology services company Globant has announced its acquisition of Blankfactor, a United States-based IT services consulting firm specializing in payments, banking, and capital markets.
The merger aims to strengthen Globant’s position in the financial services sector, particularly in North America and the United Kingdom.
Blankfactor’s expertise and global reach
Blankfactor brings a team of over 450 technology professionals to Globant, with expertise ranging from legacy COBOL systems to cutting-edge AI applications. The company has offices in the U.S., U.K., Colombia, Romania, and Bulgaria, providing a global delivery model that complements Globant’s existing operations.
“Blankfactor brings incredible experiences and best practices within the financial services space, which is a key vertical for Globant,” said Martin Migoya, Co-Founder and CEO of Globant.
“As AI develops and impacts industries, we want to expand Globant’s visions and knowledge in order to provide a continuously evolving service to our clients.”
Strategic expansion in financial technology
Founded in 2016, Blankfactor has rapidly grown its reputation in the financial technology space. The company offers consulting-led product engineering, data engineering, and enterprise AI solutions to some of the industry’s biggest names. Its client roster includes six of the top ten payment processors and numerous major banks and asset managers.
Globant, headquartered in Miami, has been rapidly expanding its global presence and service offerings. The company boasts:
- More than 29,100 employees across 33 countries and 5 continents
- Recognition as a Worldwide Leader in AI Services (2023) and CX Improvement Services (2020) by IDC MarketScape
- Status as the fastest-growing IT brand and the 5th strongest IT brand globally (2024), according to Brand Finance
“I have always admired Globant as a model of execution at scale in digital transformation, with exceptional talent around the world. With the scale and depth of Globant, I’m looking forward to achieving greater outcomes for our clients,” said Michael Wear, Founder and CEO of Blankfactor.
“Blankfactor’s consulting-led engineering capabilities, combined with Globant’s scale and breadth of services, delivers a winning combination for our current and future clients,” said Asif Ramji, Chairman of Blankfactor.
Leadership continuity and future outlook
The acquisition is expected to consolidate Globant’s Payments Studio in North America, enhancing its capabilities in the rapidly evolving financial services industry.
Company founders Wear and Melody Pak will continue to lead Blankfactor, leveraging Globant’s scale and resources to expand their impact while maintaining their focus on consulting-led digital execution for the financial services sector.
With this acquisition, Globant, which reported revenues of $587.5 million in Q2 2024, could increase its annual growth by approximately 200 basis points, Nearshore Americas reported.
