MARKET MOVEMENT
Liberty Latin America to acquire Puerto Rico and USVI spectrum and subscriber assets from DISH Network
Liberty Latin America has entered into a definitive agreement with DISH Network to acquire DISH spectrum assets in Puerto Rico and the United States Virgin Islands ( USVI ) and approximately
120,000 prepaid mobile subscribers in those markets in exchange for cash and international roaming credits .
Senior Vice President , Vivek Khemka , Liberty Latin America , commented : “ This transaction reinforces our commitment to Puerto Rico and the United States Virgin Islands ( USVI ) and showcases our intention to optimize service for our mobile customers . Upon completion of the spectrum acquisition , we will have valuable low , mid , and high band spectrum that will allow us to add more capacity , increase speeds , and further strengthen our leading 5G mobile network . We are also pleased to bring approximately 120,000 wireless subscribers to our business , which will increase our scale in the prepaid market and expand our sales channels .”
EVP Tom Cullen , DISH Network , said : “ This transaction will enhance competition within the wireless market in Puerto Rico and the USVI , while providing DISH with additional capital to focus on our wireless business in the United States .”
The transaction is subject to certain customary closing conditions , including regulatory approvals , and is expected to close next year . The aggregate asset purchase price of US $ 256 million will be paid in four annual instalments commencing on the closing date . Liberty Latin America expects to fund the transaction through local liquidity sources , including cash on hand , cash generated from operations , cash generated from asset sales , and / or revolving credit facilities .
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Globant acquires advertising agency GUT
Globant , a native digital company focused on reinventing businesses through innovative technology solutions , has announced the majority acquisition of advertising agency GUT .
The acquisition will shape a partnership aimed at boosting Globant ’ s creative offerings , taking it to a new level to support GUT ’ s accelerated expansion into new markets and industries . “ Technology and creativity have never been so closely linked as they are today ,” said Martin Migoya , Co-founder and CEO of Globant .
“ We always say that Globant is where innovation , design and engineering come together at scale , and we are very excited to bring the world ’ s most creative advertising agency into this mix . With this acquisition , we will be able to offer a unique combination of cutting-edge technology and bold ideas to brands from the very beginning of the creative process .”
“ Today begins the next chapter in GUT ’ s history , driven by an innovative partner like Globant , which will help us quickly achieve the scale we have always dreamed of ,” said Anselmo Ramos , Co-founder and Creative Chairman of GUT . “ Our mission when we founded the GUT was to be the most diverse , creative , and influential agency network of all time , and Globant will accelerate the achievement of that goal .”
Founded five years ago , GUT has employees in seven offices located in Miami , Buenos Aires , São Paulo , Toronto , Mexico City , Los Angeles and Amsterdam . •
INTELLIGENT TECH CHANNELS LATAM 45