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January 29, 2024

GFT snags Sophos, fueling worldwide growth in Colombian fintech sector.

GFT Technologies, a global digital transformation and IT services provider, has announced its acquisition of Colombian core banking fintech Sophos Solutions. The move is part of GFT’s strategy to expand its core banking expertise and client base and increase its team footprint by 20%. The acquisition also positions GFT as one of the top three banking IT services providers in Latin America. By acquiring Sophos, GFT gains access to a larger talent pool and can leverage their expertise in implementing next-gen technology and pre-built solutions. Sophos will benefit from GFT’s global presence and can launch products with a shorter time to market. The acquisition is seen as a continuation of GFT’s successful growth and profitability strategy and will result in high traction for the company in Colombia and exponential growth scope in the Americas and beyond.