GFT Technologies has confirmed its plan to acquire the entire shareholding of Sophos Solutions S.A.S., a core banking specialist based in Colombia, from private equity firm Advent International.
In doing so, GFT is not only strengthening its position in the fields of core banking solutions, Artificial Intelligence, and cloud modernisation but is also expanding its partnerships and client base, which includes some of Colombia's most prominent financial institutions. This acquisition allows the company to extend its reach to 20 countries, including six in Latin America - Brazil, Mexico, Costa Rica, now joined by Colombia, Chile and Panama.
With Sophos bringing over 1,700 employees to the table, GFT's global employee count is set to grow by nearly 20 percent, taking the total to over 12,000.
