Two Morrison & Foerster LLP offices, Morris, Manning & Martin LLP in Atlanta and Posadas in Montevideo have helped US-based digital engineering company Sparq acquire Uruguayan software business Octobot.
Octobot hired Guyer & Regules in Montevideo.
The deal was made public on 27 February. The value remains confidential.
The acquisition marks Sparq’s entry into the Latin American market. Through its purchase of Ocobot, the US company aims to grow its workforce threefold by 2025, while also expanding its digital product portfolio.
Octobot will retain its brand and current employees in Uruguay under Sparq’s new management.
Headquartered in Atlanta, Sparq provides digital engineering technology, while Uruguay’s Octobot provides software development outsourcing solutions to businesses.
The Uruguayan company is the latest in a string of Latin American tech companies that have received investment recently. Also in February, Brazilian tech company Techni obtained an investment from Banco Bradesco through a funding round. Just weeks earlier, Spanish car park operator EYSA bought technology company Serbet in Brazil.
Counsel to Sparq
Morrison & Foerster LLP
Partners Randy Bullard, associate Astrid Muharram and visiting international associate Giovanna Silva in Miami in Miami, and Katherine Erbeznik in New York
Morris, Manning & Martin LLP
Partners Nick Foreste, Anthony Boggs and Justin Ward, and associates Ballard Yelton, Bailey Malchow and Sarah Moy in Atlanta
Posadas
Partners Fernando de Posadas and Lucía Carbajal, and associates Pedro Boado, Mariana Fernández, Florencia Novaretto, Magdalena Cuñarro, Luis Seguí and Victoria Wollheim in Montevideo
Counsel to Octobot
Guyer & Regules
Partner Federico Piano and associates Javier Napoleone and Javier Galperin in Montevideo