Fintech PR
GFT acquires Sophos Solutions from Advent International
Acquisition expands GFT’s core banking expertise and client base, also footprint and team by almost 20%
STUTTGART, Germany and BOGOTA, Colombia, Jan. 25, 2024 /PRNewswire/ — Global digital transformation pioneer GFT Technologies SE (GFT) agreed to acquire 100% of shares in Colombia-based core banking expert Sophos Solutions S.A.S. With Sophos, GFT advances to one of the top 3 banking IT services providers across Latin America and also increases its global delivery capability. The purchase from Advent International, one of the largest and most experienced global private equity investors, is a clear sign of GFT’s continued focus on growth and profitability.
GFT 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. The combined impact of both companies will result in GFT advancing to be a top three provider of IT services for banking across Latin America1).
Thanks to Sophos’ more than 1,700 employees, GFT’s global headcount will grow by almost 20 percent to more than 12,000. This is the largest number of talents ever added in a GFT acquisition. The transaction is expected to be completed in early February 2024. In 2022, Sophos generated revenues of around 257 billion Colombian pesos (currently around 60 million Euros) and GFT reported over €730 million Euros worldwide.
“In this strategic acquisition, we’re not just merging companies; we’re multiplying potential,” said GFT CEO Marika Lulay. “It is a logical continuation of our successful strategy for growth and profitability. All aspects of Sophos are highly valuable to us. From the new colleagues, new competencies and new clients to the new partners for core banking solutions, such as Oracle Flexcube. All this results in high traction for GFT in Latin America’s third-largest market Colombia, plus exponential growth scope in the Americas and beyond.”
Clients benefit from expertise in core banking, AI and cloud modernisation
Sophos is especially renowned for its core banking, AI and cloud modernisation expertise, as well as innovation and digital transformation. GFT clients benefit from expanded delivery capacity and access to new expertise, including in solutions for core banking with Sophos’ established partners. For Sophos’ clients, the acquisition means access to the additional large GFT talent pool, extensive experience in successfully implementing next generation technology, more partners like Thought Machine, and pre-built solutions. All that combined translates into a shorter time to market and effective services delivery for all clients.
“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 modernisation across the financial industry. We look forward to following the company’s continued success.”
“For everyone at Sophos, it is a great opportunity to become part of GFT,” added Sophos CEO Felipe Villa. “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.”
Canaccord Genuity is serving as the exclusive financial advisor to Advent and Sophos.
1)Forecast: Enterprise IT Spending by Vertical Industry Market, Worldwide, 2021-2027, 4Q23 Update (gartner.com)
Market Share Analysis: IT Services, Worldwide, 2022 (gartner.com)
This press release is also available for download via the GFT newsroom
Your contacts
|
Press GFT Group Dr. Markus Müller |
Press GFT Latin America Danielle Oliveira Lopes Brazil |
|
Investors GFT Group Andreas Herzog
|
About SOPHOS SOLUTIONS
Sophos Solutions is a multinational IT firm based in Colombia, that accompanies the technological transformation of key financial institutions across several markets worldwide.
The company offers solutions for banking transformation, cloud services, data intelligence & AI as well as digital solutions with vast expertise in core banking.
Sophos Solutions was founded in Colombia in 2006 by a group of innovators from India, with the aim of providing cutting-edge software solutions to financial institutions. In 2020 it became part of the renowned private equity investor Advent International.
Over the years, the company has grown significantly to more than 1,700 employees worldwide, with subsidiaries in 6 different countries, including the United States, Mexico, Colombia, Chile, Panama, and India. It operates in over 14 countries, providing digital transformation & software product engineering to major top-tier banks and financial institutions.
www.linkedin.com/company/sophossolutions/
www.instagram.com/sophos.solutions/
About GFT – Shaping the future of digital business
GFT is a digital transformation pioneer. By leveraging next-generation technologies, we enable clients to boost their productivity with intelligent software solutions. We focus on Digital Finance, Enterprise AI & Data Solutions, and Platform Modernisation.
GFT’s strengths include deep technological excellence, a strong ecosystem of partners, and industry expertise. We are agile@scale and boost digital transformation for clients from the finance and insurance sectors, as well as the manufacturing industry. GFT talents create, implement, and manage software applications to enable innovative businesses while complying with regulations.
With locations in more than 15 markets around the globe, GFT ensures proximity to its clients. We draw on over 35 years of experience and a global team of over 10,000 determined talents. GFT provides them with career opportunities in the most innovative areas of software engineering. The GFT Technologies SE share is listed in the SDAX index of the German Stock Exchange (ticker: GFT-XE).
www.linkedin.com/company/gft-technologies
About Advent International
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 415 private equity investments across 42 countries, and as of September 30, 2023, had $91 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 295 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. For 40 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.
Advent has been present in Colombia since 2011 and currently has 10 professionals dedicated to investing in the country. The team has invested more than US$1 billion in companies with relevant operations in Colombia such as LifeMiles, Alianza Fiduciaria, Alianza Valores, Grupo Biotoscana, GTM, Ocensa, Sophos Solutions and most recently, GHL Hotels.
For more information, visit
www.linkedin.com/company/advent-international
Logo – https://mma.prnewswire.com/media/2327265/GFT_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/gft-acquires-sophos-solutions-from-advent-international-302045223.html
Fintech PR
2025 Will See Increased QR Code Payments but Payment Card IC ASPs Will Not Return to Pre-Covid Levels
ABI Research’s 5th annual Trend Report identifies the key Digital Payment Technologies trend that will come to fruition —and the 1 that won’t—in 2025
NEW YORK, Dec. 24, 2024 /PRNewswire/ — As 2025 kicks off, predictions abound on the technology innovations expected in the year ahead. In its new whitepaper, 101 Technology Trends That Will—and Won’t—Shape 2025, analysts from global technology intelligence firm ABI Research. ABI Research analysts identify 54 trends that will shape the technology market and 47 others that, although attracting vast amounts of speculation and commentary, are less likely to move the needle over the next twelve months. In the Digital Payment Technologies space, 2025 will see increased QR code payment acceptance but little growth for payment card IC ASPs.
“2024 has been marked by challenges, from global conflicts and inflationary pressures to political uncertainty. These factors have strained enterprise and consumer spending, leading to market inertia, short-term technology investments, sidelined capital, and the exposure of vulnerable suppliers,” says Stuart Carlaw, Chief Research Officer at ABI Research. “From a technology perspective, many industries and end markets are in that awkward stage of technology adoption where they are formulating implementation strategies, assessing solutions and partners, and trying to see if they have the resources needed to roll out solutions at scale. This is a particularly sensitive time, which tends to suggest 2025 will have tech implementers and end users on the brink of a period of a massive technology shift as they work through these issues.”
What Will Happen in 2025:
QR code payment acceptance will continue to increase with use cases expanding
Although QR code payment acceptance is prevalent in countries such as China and growing in emerging digital payment markets, including in India, use cases and potential growth areas are not limited to these countries. Significant and continued investments by vendors, including PayPal, Stripe, and SumUp, are setting the foundation for increased adoption in other mature and established economies with use cases expanding. Although QR codes are already being used by many Small and Medium Enterprises (SMEs) and pop-up retail businesses, 2025 will mark the year when the technology begins to shift from one niche to partial mainstream.
What Won’t Happen in 2025:
Payment card IC ASPs will not return to pre-COVID-19 levels
Since the COVID-19 pandemic, chipset pricing has been on a continual rise, driven by increased pricing in myriad manufacturing areas, including energy, raw material, transit pricing, and inflation, driving up wages. The chip shortage further compounded this, and according to ABI Research, the Average Selling Price (ASP) for a payment card Integrated Circuit (IC) increased by approximately +30% between 2020 and 2023. However, despite pricing pressures returning, the cost of payment ICs is some years away from matching pre-COVID-19 levels. Although 2025 will mark another year of pricing deprecation, it will not be until around 2028 when pricing is expected to drop to levels similar to those achieved in 2019 steadily.
For more trends that will and won’t happen in 2025, download the whitepaper, 101 Technology Trends That Will—and Won’t—Shape 2025.
About ABI Research
ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers.
ABI Research是一家全球性的技术情报公司，拥有得天独厚的优势，充当终端市场公司和技术解决方案提供商之间的桥梁，通过提供独家研究和专业性指导，推动成功的技术实施和提供经证明可吸引和留住客户的战略，无缝连接这两大主体。
For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.
Contact Info:
Global
Deborah Petrara
Tel: +1.516.624.2558
[email protected]
Logo – https://mma.prnewswire.com/media/2309035/ABI_Research_2024.jpg
View original content:https://www.prnewswire.co.uk/news-releases/2025-will-see-increased-qr-code-payments-but-payment-card-ic-asps-will-not-return-to-pre-covid-levels-302338531.html
Fintech PR
Bybit Champions Web3 Innovation and Strengthens Ties with Asia’s Crypto Community at Taipei Blockchain Week
DUBAI, UAE, Dec. 24, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange, debuted at the Taipei Blockchain Week Dec. 12 to 14, 2024, spotlighting the vibrant Web3 innovations on its platform alongside a dynamic roster of its strategic Layer 1 ecosystem partners.
Featuring side events in collaboration with the Solana Foundation, the Sui Foundation, and a dazzling lineup of multichain projects, Bybit Web3 dedicated the Taipei tour to building up communities and deepening connections with Web3 ecosystem partners. The Bybit delegation also took the stage to uncover the latest insights on Web3, building with a purpose, and the future of blockchain utilities and DeFi.
Purpose, Innovation, and Partnerships
Representing Bybit at the conference were MK Chin, Core Contributor for Blockchain for Good Alliance and Head of Marketing of Bybit Web3, and Angela Huang, Bybit VIP Relationship Manager, at various panels.
Expanding on blockchain technology’s potential in building better realities for all, Chin joined as a panellist in the session Marketing Web3: Strategies to Engage and Onboard the Next Billion Users. Chin shared learnings and actionable insights from the Bybit-supported Blockchain for Good initiative (BGA), elaborating on both real-world utilities of blockchain technologies and the trickling down of benefits to grassroot communities.
Meanwhile, Angela Huang moderated three sessions closely tied to Bybit’s mission, steering conversations on crucial industry topics:
- The panel Bridging TradFi and DeFi: The Exchange’s Role in User Onboarding on Dec. 12 examined how exchanges could elevate access to the digital economy for users at scale.
- On Dec. 13, Networked Intelligence: The Rise of Decentralized AI explored the intersection of blockchain and AI, showcasing their potential to transform and democratize finance.
- The Building for Impact: How Female Founders Drive Purpose-Driven Innovation panel on Dec. 14 highlighted the evolving role of women leaders in driving solution-oriented innovation.
Another highlight at the event was amplified globally via Bybit Livestream. Collaborating with the Sui Foundation, Ondo, DeepBook, Scallop, NAVI, and other leading projects, Bybit Web3 led a critical debate on the future of Sui’s growth strategy: Sui Ecosystem Showdown: Mass Adoption vs. Native Growth. Hosted by Emily Bao, Head of Web3 and Spot at Bybit, the livestream attracted over 6,500 viewers live at the Taipei Blockchain Week and globally on Dec. 13.
Deepening Bonds: Key Web3 Ecosystems and Communities
Bybit Web3 brought the local community closer to its world-class ecosystem partners with engaging community events, co-hosting Taiwan DeFi Flow with Sui and Scallop on Dec. 12, and Solana Ecosystem Taipei Greetings with the Solana Foundation and Solar with the support of Orderly Network, Zetachain, Jupiter, and Sonic, on Dec. 14. Through collaborations and innovation, Bybit Web3 opens up new on-chain possibilities for partners and stakeholders to expand the Web3 universe.
These relaxed evening gatherings provided a convivial backdrop for like-minded builders and entrepreneurs to network, exchange ideas, and celebrate their shared enthusiasm for DeFi and dApps in Asia’s growing Web3 innovation hub.
“It’s been an incredible experience connecting with the builders, believers, users, creators, and supporters driving innovation on Solana and Sui. These moments remind us of the heart and spirit of Web3—a vibrant ecosystem shaped by collaboration and shared vision. I’m deeply proud to witness this growth, grateful for every connection made, and excited for the road ahead,” said MK Chin, Core Contributor for Blockchain for Good Alliance and Head of Marketing of Bybit Web3.
“Taipei Blockchain Week showcased the immense growth and potential of Web3 innovation in Asia. Representing Bybit, I had the honor to collaborate with industry leaders to explore Web3’s limitless possibilities, from DeFi and AI to real-world applications. Together, we are shaping a more inclusive global crypto community,” said Angela Huang, Bybit VIP Relationship Manager.
In the past year, Bybit has seen exponential growth in its user base, surging to over 60 million by the end of 2024. It has also invested in vertical growth through community engagements across the world. Connected by the passion for the future of crypto, blockchain, and Web3, the Bybit family is on track to building an inclusive and sustainable path to growth for the industry.
#Bybit / #TheCryptoArk / #BybitWeb3
About Bybit Web3
Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 130 million wallet addresses across over 30 major ecosystem partners, and counting.
Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as the world’s second-largest cryptocurrency exchange by trading volume, trusted by over 50 million users globally.
Join the revolution now and open the door to your Web3 future with Bybit.
For more details about Bybit Web3, please visit Bybit Web3.
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
Photo – https://mma.prnewswire.com/media/2587313/1.jpg
Photo – https://mma.prnewswire.com/media/2587314/2.jpg
Logo – https://mma.prnewswire.com/media/2267288/Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/bybit-champions-web3-innovation-and-strengthens-ties-with-asias-crypto-community-at-taipei-blockchain-week-302338874.html
TIANJIN, China, Dec. 24, 2024 /PRNewswire/ — On December 7, 2024, AIMA Technology Group warmly invited a delegation of five top-performing U.S. IBD dealers to visit its headquarters. Accompanying the group was Angela Zheng, CEO of AIMA’s U.S. subsidiary, AIMA EBIKE, along with her sales, marketing, and customer service teams. This visit not only marked a deepened connection between AIMA and the mainstream U.S. market but also provided U.S. dealers with a valuable opportunity to witness AIMA Technology’s globally leading capabilities in research, development, and manufacturing of electric mobility solutions.
The delegation first toured AIMA’s state-of-the-art factory in Tianjin. Aima Technology possesses production factories with extremely high levels of intelligent manufacturing Additionally, AIMA has integrated advanced technologies such as AI visual recognition and established a CNAS-certified R&D laboratory, maintaining its industry leadership in intelligent transformation. During the tour, the dealers were deeply impressed by AIMA’s cutting-edge technology, large-scale production capabilities, and relentless pursuit of excellence in product development and manufacturing. They expressed that this rare visit not only enhanced their understanding of AIMA but also strengthened their confidence in promoting AIMA products as a symbol of outstanding performance and exceptional quality to their customers.
Furthermore, AIMA Technology’s R&D team engaged in in-depth discussions with the dealers regarding the new models AIMA EBIKE plans to launch in 2025. The dealers test-rode prototypes of the latest models and shared their innovative insights. They expressed high praise for AIMA’s product innovation capabilities and market acumen, recognizing these as key factors that distinguish AIMA in the industry.
Later, the dealers joined AIMA Technology’s team to witness the rollout of the 10,000th AIMA E-Bike. This milestone moment showcased AIMA’s exceptional manufacturing strength and market influence. The dealers were inspired and expressed strong confidence in the promising future of their partnership with AIMA.
This visit from the top-tier U.S. dealer delegation not only deepened mutual trust and friendship but also injected new momentum into AIMA’s ambition to become a leader in the U.S. E-Bike industry by focusing on the IBD channel. Looking ahead, AIMA Technology will continue to strive to provide market-leading performance and quality, enhancing its product development and manufacturing capabilities while working hand-in-hand with global dealers to create an even brighter future.
Photo – https://mma.prnewswire.com/media/2586564/1.jpg
Photo – https://mma.prnewswire.com/media/2586566/2.jpg
Logo – https://mma.prnewswire.com/media/2449955/AIMA_Technology_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/aima-technology-welcomes-top-us-dealers-to-shape-the-future-together-302338745.html
-
Fintech7 days agoFintech Pulse: Your Daily Industry Brief (Revolut, Bestow, Advyzon, Tyme Group, Nubank)
-
Fintech5 days agoFintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA)
-
Fintech PR4 days agoAccording to Tickmill survey, 3 in 10 Britons in economic difficulty: Purchasing power down 41% since 2004
-
Fintech5 days agoSPAYZ.io prepares for iFX EXPO Dubai 2025
-
Fintech5 days agoAirtm Enhances Its Board of Directors with Two Strategic Appointments
-
Fintech PR4 days agoPresident Emmerson Mnangagwa met this week with Zambia’s former Vice President and Special Envoy Enoch Kavindele to discuss SADC’s candidate for the AfDB
-
Fintech PR4 days agoStay Cyber Safe This Holiday Season: Heimdal’s Checklist for Business Security
-
Fintech PR6 days agoGan & Lee Pharmaceuticals Announces U.S. FDA Clearance of the IND application for the innovative Bi-weekly GLP-1RA GZR18 Injection, Bofanglutide, with chronic weight management Indication (A Phase 2 head-to-head with Tirzepatide clinical trial)