Globant S.A. | CIK:0001557860 | 3

  • Filed: 4/13/2018
  • Entity registrant name: Globant S.A. (CIK: 0001557860)
  • Generator: Workiva (WebFilings)
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1557860/000114420418020505/0001144204-18-020505-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1557860/000114420418020505/glob-20171231.xml
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    • ifrs-full:DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory


    The fair value of the consideration transferred for PointSource acquisition was calculated as follows:
    Purchase price at acquisition date
     
    Amount
     
    Down payment
     
    15,500

     
    Working capital adjustment
     
    3,756

     
    Contingent consideration
     
    9,373

    (a) 
    Total consideration
     
    28,629

     

    (a)
    As of December 31, 2017 included 2,200 and 7,261 as Other financial liabilities current and non-current, respectively.
    The fair value of the consideration transferred for Ratio acquisition was calculated as follows:
    Purchase price at acquisition date
     
    Amount
     
    Down payment
     
    5,800

     
    Working capital adjustment
     
    (97
    )
     
    Contingent consideration
     
    3,826

    (a) 
    Total consideration
     
    9,529

     

    (a)
    As of December 31, 2017 included 1,666 and 2,216 as Other financial liabilities current and non-current, respectively.

    The consideration transferred for Dynaflows acquisition was calculated as follows:
     
    Purchase price
     
    Amount

     
     
    Down payment
     
    1,402

     
     
    Installment payment
     
    414

     
     
    Total consideration
     
    1,816

     
    (a)
     
    (a)
    As of December 31, 2017 and 2016 the consideration was fully settled.
     
    The consideration transferred for Huddle Group acquisition was calculated as follows:
     
    Purchase price
     
    Amount

     
     
    Down payment
     
    3,019

     
     
    Installment payment
     
    5,117

     
    (a)(b) 
    Total consideration
     
    8,136

     
     
     
    (a)
    Net present value of future installment payments including interest.
    (b)
    The outstanding balance as of December 31, 2017 and 2016 amounted to 110 and 104, respectively, including interest; classified 110 as current as of December 31, 2017 and 104 as non-current other financial liabilities as of December 31, 2016.

    The fair value of the consideration transferred for L4 acquisition at the acquisition date was calculated as follows:

    Purchase price
     
    Amount
     
     
    Down payment
     
    11,000

     
     
    Working capital adjustment
     
    817

     
    (a)
    Contingent consideration
     
    8,571

     
    (a)
    Total consideration
     
    20,388

     
     

    (a) As of December 31, 2017 and 2016 included 1,845 and 1,799, respectively, as Other financial liabilities current and 1,803 and 7,589 as Other financial liabilities non-current, respectively.
    The fair value of the consideration transferred for WAE acquisition at the acquisition date was calculated as follows:

    Purchase price
     
    Amount
     
     
    Down payment
     
    8,500

     
     
    Working capital adjustment
     
    1,352

     
     
    Installment payment
     
    551

     
    (a)
    Contingent consideration
     
    9,448

     
    (a)
    Total consideration
     
    19,851

     
     

    (a) As of December 31, 2017 and 2016 included 924 and 5,457, respectively, as Other financial liabilities current and 4,735 as Other financial liabilities non-current as of December 31, 2016.

    As of December 31, 2017 and 2016, fair values of the assets acquired, liabilities assumed and goodwill or bargain gain determined at the date of acquisition in the business combinations are as follows:
     
     
     
    For the year ended December 31,
     
     
     
    2017
     
    2016
     
    Current Assets
     
     

     
     

     
    Cash and cash equivalents
     
    2,151

     
    2,941

     
    Investments
     
    5

     
    —

     
    Trade receivables
     
    3,170

     
    5,748

     
    Other receivables
     
    2,893

     
    1,752

     
     
     
     
     
     
     
    Non current assets
     
     
     
     
     
    Property and equipment
     
    192

     
    259

     
    Intangibles
     
    524

     
    5,082

     
    Deferred tax
     
    —

     
    562

     
    Other receivables
     
    151

     
    530

     
    Goodwill (1)
     
    33,699

     
    32,325

     
     
     
     
     
     
     
    Current liabilities
     
     
     
     
     
    Trade and other payables
     
    (3,310
    )
     
    (4,504
    )
     
    Tax liabilities
     
    (22
    )
     
    (1,883
    )
     
    Payroll and social security
     
    (1,295
    )
     
    (1,234
    )
     
    Other liabilities
     
    —

     
    (22
    )
     
     
     
     
     
     
     
    Non current liabilities
     


     


     
    Provision for contingencies (2)
     
    —

     
    (817
    )
     
    Borrowings
     
    —

     
    (250
    )
     
     
     
     
     
     
     
    Gain from bargain business combination (3)
     
    —

     
    (225
    )
     
    Total consideration
     
    38,158

     
    40,264

     
     
    (1)
    As of December 31, 2017 and 2016, 33,699 and 16,124, respectively, are deductible for tax purposes. As of December 31, 2016, 16,201 is not deductible for tax purposes.
    (2)
    Includes provision for contingencies from Difier S.A. related to potential regulatory claims.
    (3)
    As the total amount paid for Difier S.A. is less than the fair value of the assets and liabilities recognized at the date of acquisition, the Company has recorded a gain from bargain business combination.
    The consideration transferred for Clarice acquisition was calculated as follows:
     
    Purchase price
     
    Amount
     
     
    Down payment
     
    9,324

     
     
    Installment payment
     
    2,483

     
    (a)
    Contingent consideration
     
    8,377

     
    (a)
    Total consideration
     
    20,184

     
     
     
    (a)
    As of December 31, 2017 and 2016 included 3,119 and 4,446 as Other financial liabilities current, and 4,497 and 2,408 as Other financial liabilities non-current, respectively.