Raleigh digital services company PointSource has been acquired by Globant, a publicly traded firm in Argentina, in a deal worth up to $28 million.
Globant agreed to pay $15.5 million for PointSource with additional payments through 2019 if PointSource meets revenue and profit targets.
PointSource will be wholly owned by Globant but will continue operating independently as PointSource, said Stephanie Trunzo, chief operating officer. PointSource creates websites, mobile sites and other services to promote the goals of its clients.
She said the company is on track to expand its workforce by about 20 percent this year.
“There’s absolutely no layoffs,” Trunzo said.
She said the company, whose customers include Johnson & Johnson, Kohl’s and LabCorp, has never accepted venture capital and generated revenue of about $20 million in 2016.
“Our plan was to grow organically as far as we could,” she said. “This year was the year we said we needed a partner so we could continue growing.”