(RTTNews) – GFT Technologies agreed to acquire 100% of shares in Colombia-based core banking expert Sophos Solutions S.A.S. from a private equity firm Advent International.

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GFT said it is gaining a new stronghold for core banking solutions, AI and cloud modernisation, as well as additional partners and clients, which include Colombia’s most relevant financial institutions. The company is increasing its presence to 20 countries, six of which are in Latin America: Brazil, Mexico and Costa Rica are now complemented by Colombia, Chile and Panama.

Sophos’ workforce of more than 1,700 employees will contribute to a nearly 20 percent growth in GFT’s global headcount, bringing it to over 12,000.