GFT Technologies SE (GFT), a global leader in digital transformation, announced that it has agreed to buy 100% of shares in Sophos Solutions S.A.S., a Colombian company specialized in core banking, AI and cloud modernization.

The deal, which is expected to close in early February 2024, will boost GFT’s growth and profitability, as well as its delivery capacity and expertise in the banking sector.

With the acquisition of Sophos, GFT Technologies SE will expand its presence to 20 countries, including six in Latin America, and increase its global headcount by almost 20% to more than 12,000.

GFT will also gain new partners and clients, such as Oracle Flexcube and Colombia’s most relevant financial institutions.

GFT Technologies SE aims to become one of the top three providers of IT services for banking across Latin America.

“We are proud to have partnered with the entire Sophos team during a time of significant growth for the company,” said Lucas Marulanda, Director at Advent International.

“Since our investment in 2020, Sophos has strategically scaled its platform through international and regional expansion and continued to help drive significant technological transformation and modernization across the financial industry. We look forward to following the company’s continued success.”

Sophos Solutions CEO Felipe Villa, said, “For everyone at Sophos, it is a great opportunity to become part of GFT” .

“I see a perfect fit with combined expertise and global presence of Sophos and GFT. This will enable us to even better support our clients 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.”

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