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  "documentTitle": "Globant SA (GLOB)",
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  "sourceTypeLabel": "Short seller",
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      "kind": "callout",
      "text": "Organic Growth Is Decelerating",
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      "text": "Almost 50% of Growth is Acquired",
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      "text": "M&A represented approximately 50% of its total growth in 2017. More alarming: organic growth is decelerating",
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      "text": "organic growth: 14.8%",
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      "text": "Globant consistently tells investors that most of its growth is organic (vs. from M&A). We have done the work to prove otherwise. M&A represented approximately 50% of its total growth in 2017. More alarming: organic growth is decelerating",
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      "text": "Sources: 4Q17 Press Release, FY16 20F, 1H17 6F",
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