“It is anticipated that the deal would close in early February 2024. Around 257 billion Colombian pesos, or about €60 million, were made by Sophos in 2022, whereas over €730 million was recorded globally by GFT.”
GFT Technologies has agreed to buy Advent International’s entire stake in Colombia-based core banking specialist Sophos Solutions. GFT claims that by utilising Sophos, it expands its global delivery capability and becomes one of the leading IT services suppliers in Latin America.
GFT is gaining more partners and clients, including the most significant financial institutions in Colombia, as well as a new foothold in core banking solutions, artificial intelligence, and cloud modernization.
It is anticipated that the deal would close in early February 2024. Around 257 billion Colombian pesos, or about €60 million, were made by Sophos in 2022, whereas over €730 million was recorded globally by GFT.
Sophos – A Modern-Day Core Banking Specialist
Sophos is highly regarded for its expertise in core banking, AI, and cloud modernization, as well as innovation and digital transformation. GFT clients can now benefit from a larger delivery capacity and access to new expertise, including solutions for core banking with Sophos’ established partners. With this acquisition, Sophos clients can now access a larger talent pool and extensive experience in implementing next-generation technology, along with more partners like Thought Machine and pre-built solutions. All of this combined results in a shorter time to market and effective service delivery for all clients.
Felipe Villa, CEO, Sophos, said, “For everyone at Sophos, it is a great opportunity to become part of GFT. I see a perfect fit with the combined expertise and global presence of Sophos and GFT. This will enable us to support our clients even better on their digital transformation journey – great news for our employees and their career development, as well as for our clients. We are grateful to Advent for taking our company to the next level.