Latin American agency Gut was the standout hit at Cannes Lions this year. They were named top creative agency, independent agency, and independent network, and took home three Grand Prix.
So it’s no surprise that investors have been swirling around the agency, and it didn’t take them long to make a choice. Gut has sold a majority stake to global tech and digital consultancy Globant, which has been a client for the last three years and is listed on the New York Stock Exchange.
Gut will operate independently, and its leadership team will remain in place as the companies work together to build their businesses together. First on Gut’s list is expansion to London and Asia.
Anselmo Ramos, co-founder and creative chairman of Gut (second from left), said: “Our mission when we founded Gut was to be the most diverse, creative, and influential agency network ever, so we know that this reinvention with Globant will only accelerate that goal to hopefully becoming our reality soon.”
Martin Migoya, co-founder and CEO of Globant, said: “Technology and creativity have never been more closely linked than they are today and we couldn’t be more excited to bring the world’s most creative marketing and communications company into the mix. With this acquisition, we will be able to offer a unique blend of top-notch technology and bold ideas to brands from the very beginning of the creative ideation process.”
Miami-based Gut currently has 500 employees across seven offices in Miami; Buenos Aires, Argentina; São Paulo, Toronto, Mexico City, Los Angeles and Amsterdam. Its current roster of 60 clients includes Anheuser-Busch InBev, Google, Kraft Heinz, and Coca-Cola.
Globant has 27,500 employees across 30 countries and has clients such as Google, Electronic Arts and Santander. It was founded in Buenos Aires in 2003 and is one of Fortune’s 100 fastest-growing companies. Gut is not its first marketing communications acquisition; in the last couple of years it has bought agencies in Spain, Denmark, Columbia and Mexico.
The move is reminiscent of Droga 5’s sale to consultancy Accenture in 2019. Since then, David Droga has taken over the running of a whole new Accenture Song network.
PS WPP sold its stake in Globant in 2018, much to Sir Martin Sorrell’s ire. Gut itself is a breakaway from WPP’s David. Small world…