Globant, an Argentina-based outsourced IT services provider, announced terms for its IPO on Monday. The company, which is based in Luxembourg but operates primarily out of Buenos Aires, Argentina, plans to raise $76 million by offering 6.3 million shares (46% insider) at a price range of $11 to $13. At the midpoint of the proposed range, Globant would command a fully diluted market value of $400 million.
Globant designs a myriad of software solutions for enterprises, and its clients include Google (GOOGL), LinkedIn (LNKD), Verizon (VZN), Sabre (SABR), Orbitz (OWW) and Walt Disney Parks and Resorts Online (DIS), among others.
Globant, which was founded in 2003 and booked $167 million in sales for the 12 months ended March 31, 2014, plans to list on the NYSE under the symbol GLOB. Globant initially filed confidentially on January 15, 2013. J.P. Morgan, Citi and Credit Suisse are the joint bookrunners on the deal. It is expected to price during the week of January 14, 2014.
