Narayan AmmachchiUruguayan digital engineering services provider Octobot was acquired by US rival Sparq, both companies announced Wednesday.
The Montevideo-based company, with around 100 employees across delivery centers in Uruguay, Argentina and Colombia, is expected to see its headcount triple by the end of 2025, according to Uruguayan media reports.
🔍 Curious about what the future holds for Octobot after our recent acquisition by Sparq? Look no further than our newest blog post! Discover the insights, aspirations, and exciting plans that await us. Dive in now: https://t.co/Nju8yCHJpk pic.twitter.com/5fdLqaPzhJ
— octobot (@octobotdev) March 5, 2024
Octobot boasts prominent clients such as UnitedHealth Group and Weel, alongside local Uruguayan customers like Farmashop.
Sparq, headquartered in Atlanta, is apparently looking to gain broader customer access and a pool of tech talent in the region with the acquisition.
“By joining Sparq, we will have access to more resources and growth opportunities,” said Guillermo Perez, CEO of Octobot.
Octobot will continue to operate under its own brand name in Uruguay, with current executives Luciano Ferrari (COO) and Guillermo Perez remaining at the helm of the local operation.
Sparq executives shared plans to expand operations throughout Latin America, but have not disclosed details regarding the initial target country.
Founded in 2014, Octobot has experienced nearly 50% annual revenue growth, with nearly 70% derived from US clients.
Sparq, with over 800 employees across the United States, serves major clients like Pfizer and Southwest Airlines.
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