Globant SA Expands in the Middle East with New Riyadh HQ
In a strategic move that underscores its commitment to the Middle East, Globant SA, a leading software solutions company, has inaugurated its Middle East Regional Headquarters in Riyadh, Saudi Arabia. This significant expansion, less than three years after entering the region, marks a pivotal moment for the company, which is renowned for its engineering, design, and innovation services across North America and Europe.
The new Riyadh headquarters is set to serve as a Center of Excellence for AI, creativity, and cutting-edge digital solutions. This initiative aligns with Globant’s ambitious expansion plan and its vision to become a key player in the global digital transformation landscape. The company’s decision to establish its first regional HQ in Riyadh is a testament to its confidence in the Middle East’s growing potential and its commitment to fostering innovation and excellence in the region.
Globant’s move to Riyadh is not just about geographical expansion; it’s about building a hub that will serve as a platform to export talent and best practices worldwide. The company has already partnered with some of the most significant Giga-projects in the region, and with this new hub, it aims to further cement its position as a leader in digital transformation. The Riyadh HQ will focus on training local IT talent in the latest AI skills, enabling them to orchestrate agentic workflows and contribute to the region’s digital economy.
The company’s recent performance in the Middle East & APAC region has been impressive, with revenue increasing by 84.4% year-over-year in Q1-25. This growth is a clear indicator of Globant’s successful penetration into the market and its ability to adapt and thrive in diverse environments.
However, it’s worth noting that Globant’s stock price experienced a downturn, trading down 5% on a recent Friday, with shares reaching as low as $100.37. This decline in stock price, coupled with a decrease in trading volume, has caught the attention of analysts and investors alike. Susquehanna, for instance, reduced their price objective on Globant shares from $225.00 to $16, reflecting a cautious outlook on the company’s immediate financial performance.
Despite this short-term volatility in the stock market, Globant’s strategic expansion into the Middle East, particularly with the establishment of its Riyadh HQ, positions the company for long-term growth and success. By investing in local talent and focusing on cutting-edge digital solutions, Globant is not only contributing to the region’s digital transformation but also setting a new standard for innovation and excellence in the global IT industry.
As Globant continues to expand its footprint in the Middle East and beyond, its commitment to innovation, talent development, and digital transformation remains unwavering. The Riyadh headquarters is just the beginning of what promises to be an exciting new chapter for Globant, as it continues to shape the future of technology and digital solutions worldwide.