QIL+4 Abogados Advises Advertising Giant, WPP Group, in Purchase of Guatemalan XumaK, a High-End Digital Marketing Corporation
Xumak acquisition by Wunderman Thompson, part of WPP Group, marks a milestone in the history of the Guatemalan Mergers and Acquisitions digital marketing.
The acquisition of Guatemalan Xumak by WPP Group breaks ground in the local M&A market through the acquisition of a digital marketing corporation based in Guatemala acquired by a global entity.
QIL+4 ABOGADOS, led by partner Marcos Ibargüen, senior associate Melissa Echeverría, Ignacio Grazioso and Javier Castellan, assisted WPP Group in the acquisition of XumaK and the closing of the operation was announced on February 12th, 2020.
WPP Group is a global leader in advertising and digital marketing solutions, with more than 130,000 employees distributed across 113 countries.
Xumak is a software solutions and Adobe Experience Manager (AEM) services provider, leader in Latin America, that helps its clients to digitally transform their businesses.
Founded in 2004 by Marcos Antil, XumaK’s headquarters are based in Miami, Florida, with two development centers in Guatemala and Colombia. The company employs around 60 people and has reached a turnover of up to US $ 13 million annually.
Marcos Antil is known and admired in Guatemala and Central America, for his history of success despite all the adversities faced in his life. Member of a Guatemalan family that fled violence during the armed conflict in its country , Marcos built his company from scratch and took it to the top of digital marketing services. His life experiences are shared in his book called: “Migrante” (Immigrant).
The acquisition of XumaK by Wunderman Thompson, is part of WPP Group business strategy to deepen its technological offer around the globe. Marcos Antil will remain CEO of XumaK.
Guatemalan Counsel to WPP Group
Marcos Ibargüen, Leading partner
Local press link: https://www.prensalibre.com/economia/gigante-de-la-publicidad-compra-xumak-del-guatemalteco-marcos-antil/