Sparq buys Uruguayan software developer
Summary
Atlanta-based software developer Sparq said it acquired Uruguay’s Octobot, a fast-growing nearshore digital engineering firm, for an undisclosed sum. “In the fast-moving current technology landscape, it is vital to scale quickly and create product-focused digital engineering solutions,” Sparq CEO Monty Hamilton said in a press release. Founded in 2014, Montevideo-based Octobot mostly provides services to US-based clients, including product strategy and design, data engineering and cloud development. Octobot CEO Guillermo Pérez said the deal will provide his company with “access to more resources and growth opportunities.” Sparq is controlled by New York-based investment firm Harvest Partners Ascend Management. dLocal, an Uruguay-based payments platform with operations in Africa, Asia and Latin America, raised $618 million for its expansion plans in its initial public offering on the Nasdaq stock exchange in New York in 2021.