Clay Banks
GFT Technologies, a German technology company, has announced the strategic acquisition of Colombian IT firm Sophos Solutions, with the goal of reinforcing its footprint in the Latin American market. This move aligns with GFT’s ambition to bolster its banking IT services across the region and enhance its global delivery model. The acquisition is expected to conclude in early February 2024, significantly expanding GFT’s operational presence to 20 countries, including key Latin American markets like Brazil, Mexico, Costa Rica, Colombia, Chile, and Panama.
By integrating Sophos Solutions into its operations, GFT not only acquires new capabilities in core banking, artificial intelligence (AI), and cloud technologies but also benefits from a broader client and partner base. This includes collaborations with notable Colombian financial institutions. The merger is anticipated to increase GFT’s workforce by 1,700 employees, contributing to a 20% growth in the company’s global headcount, which will exceed 12,000.
This acquisition underpins GFT’s strategic objectives for growth and profitability, enhancing its service offerings in core banking solutions and providing both GFT’s and Sophos’ clients with improved access to a wider talent pool, technological expertise, and pre-built solutions. As a result, clients can expect reduced time-to-market and more efficient service delivery. With a commitment to driving the growth of technology within the financial sector, both companies are poised to offer comprehensive support for digital transformation initiatives to their global clientele.
GFT Technologies focuses on leveraging technology to boost client productivity through intelligent software solutions, specializing in digital finance, enterprise AI, data solutions, and platform modernization. With a vast network of partners and a presence in over 15 markets worldwide, GFT is dedicated to maintaining close relationships with its clients, ensuring the delivery of cutting-edge technological solutions.
