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
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Press GFT Group Dr. Markus Müller |
Press GFT Latin America Danielle Oliveira Lopes Brazil |
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Investors GFT Group Andreas Herzog
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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
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NEW YORK, Jan. 24, 2025 /PRNewswire/ — Uniswap, the world’s leading decentralized exchange in the DeFi ecosystem, has announced the Official $UNI AirDrop. This groundbreaking $35M distribution marks a significant milestone in its journey toward decentralized financial empowerment. This exciting initiative coincides with the Uniswap Foundation’s announcement of Uniswap Version 4, with deployments set to begin today, signaling another leap forward in the platform’s evolution. Meanwhile, the crypto world is abuzz with momentum, fueled by former U.S. President Donald Trump’s bold plans to establish the United States as the global capital of blockchain and cryptocurrency.
Uniswap’s $UNI AirDrop: Celebrating Growth and Innovation
The $35M AirDrop comes as Uniswap celebrates an impressive 120.76% year-over-year growth in 2024. This initiative rewards both loyal and new users, underscoring Uniswap’s dedication to fostering community engagement and innovation in decentralized finance.
The AirDrop also coincides with heightened investor interest, with whales beginning to accumulate $UNI tokens following Uniswap Foundation’s recent announcements. This highlights the growing confidence in Uniswap’s ecosystem and its potential for long-term growth.
Interested participants can review eligibility requirements on Uniswap’s official website, ensuring a secure and transparent process for everyone involved.
Uniswap V4: The Next Chapter in Decentralized Finance
Uniswap’s Version 4 is set to roll out today, bringing groundbreaking improvements to the protocol. Designed to enhance efficiency, scalability, and user experience, V4 introduces innovative features that solidify Uniswap’s position as the industry leader in DeFi.
This latest update not only benefits the platform’s users but also sets the stage for increased adoption and integration across the broader blockchain ecosystem.
Trump’s Vision and Uniswap’s Alignment
The AirDrop and V4 deployment comes at a time when Donald Trump’s vision to establish the USA as the global crypto capital is reshaping the industry narrative. With Bitcoin breaking records and institutional interest surging, Uniswap’s initiatives align seamlessly with the renewed focus on decentralization and financial freedom.
Uniswap’s ability to anticipate market trends and deliver unparalleled value to its users has positioned it at the forefront of these transformative changes.
Jupiter’s Simultaneous Airdrop Sparks Broader Market Momentum
Uniswap’s AirDrop announcement comes in the midst of significant developments across the DeFi ecosystem. Jupiter, a Solana-based platform, has recently issued a $630M airdrop of its native JUP tokens, propelling its market cap up by 87% to $3.5 billion. This surge in activity highlights the increasing competition and innovation within the decentralized finance space, with platforms racing to reward their communities and expand their reach.
The dual momentum of Uniswap’s $UNI AirDrop and Jupiter’s recent initiatives underscores a new wave of growth and collaboration in the DeFi sector, further solidifying its role in shaping the future of global finance.
This January 2025 has proven to be a groundbreaking month for the crypto space, marked by historic milestones and unprecedented momentum. Bitcoin’s meteoric rise to its all-time high of $100K has reignited global interest in digital assets, while Ethereum and Solana have seen significant gains, driven by innovative developments and strong investor confidence. Meanwhile, the DeFi sector is thriving, with platforms like Uniswap and Jupiter leading the charge through impactful initiatives, including massive airdrops that have reshaped user engagement. This surge of activity has not only reinforced crypto’s role as a transformative financial ecosystem but has also set the tone for an exhilarating year ahead in blockchain and decentralized finance.
Whale Activity Signals Strong Confidence
In addition to the AirDrop, recent data has shown a surge in whale activity, with large investors beginning to accumulate $UNI tokens. This follows Uniswap Foundation’s latest announcements and highlights the growing market confidence in the platform’s future prospects.
As Uniswap continues to innovate with initiatives like V4 and significant reward campaigns, it further solidifies its role as the leading decentralized exchange and a driving force in the crypto space.
How to Participate in the $UNI AirDrop
To participate in the $35M $UNI AirDrop, users are encouraged to visit Uniswap’s official website to confirm their eligibility and review the claiming process. With this initiative, Uniswap reaffirms its commitment to rewarding its community and promoting decentralization.
For real-time updates and further information, follow Uniswap’s verified social media channels and stay informed about this historic AirDrop and future developments.
About Uniswap
Uniswap is the world’s leading decentralized exchange, empowering millions of users to trade tokens securely and efficiently on the blockchain. Known for its commitment to innovation and transparency, Uniswap continues to set the standard for decentralized finance and global financial systems.
Contact:
Uniswap Foundation
[email protected]
Matthew Elder
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Fintech PR
Silver Gene to Present at DxPx Conference Europe 2025: Showcasing Genetic Solutions for Chronic Symptoms and Autoimmune Diseases
FRISCO, Texas, Jan. 24, 2025 /PRNewswire/ — Silver Gene, a pioneer in nutritional genetic technology and personalized health solutions, is proud to announce its participation in the upcoming DxPx Conference Europe, taking place in Düsseldorf, Germany January 26-27th.
The conference, renowned as a global gathering for leaders in diagnostics, precision medicine, and digital health, will serve as a platform for Silver Gene to share its innovative approach to addressing chronic symptoms rooted in genetic and autoimmune conditions.
Silver Gene’s presentation will highlight the company’s cutting-edge methodology, which combines advanced nutritional genetic technology with the expertise of a nationwide network of physicians. By analyzing multifactorial genes and identifying underlying genetic causes, Silver Gene provides comprehensive evaluations designed to eliminate toxins, restore health, and deliver lasting solutions for patients who have struggled to find answers elsewhere.
“At Silver Gene, our mission is to bring clarity and healing to patients who have been searching for solutions to chronic symptoms and elusive health issues,” said Dennis Hooper, CEO at Silver Gene. “We are honored to join industry leaders at DxPx Europe to share our breakthroughs in personalized healthcare and explore collaborative opportunities that can further revolutionize patient outcomes.”
DxPx Industry & Investor Partners Conference Europe is the premier forum for connecting companies in the life sciences and healthcare industries. Known for its focus on diagnostics and precision medicine, the event attracts investors, innovators, and key decision-makers from across the globe.
Silver Gene invites attendees to visit its booth, schedule one-on-one meetings and learn more about its transformative approach to addressing genetic and autoimmune health challenges. Attendees will also have the opportunity to engage with the team to discuss potential partnerships, collaborations, and investment opportunities.
For more information about Silver Gene and its participation at DxPx Conference Europe, please visit Silver Gene’s website link or the official DxPx conference website.
About Silver Gene
At Silver Gene, we are dedicated to transforming lives by addressing chronic symptoms that stem from genetic problems and autoimmune diseases. Through the expertise of our nationwide network of physicians and cutting-edge genetic technology, we identify the root causes of elusive health issues. By analyzing a wide array of multifactorial genes, we pinpoint the problematic ones and create personalized, comprehensive health evaluations. Our goal is to eliminate toxins from the body, restore well-being, and provide lasting solutions for patients who have long struggled to find answers. At Silver Gene, we are committed to delivering clarity, healing, and a path to a healthier future.
Media Contact: [email protected]
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Fintech
Fintech Pulse: Your Daily Industry Brief – January 24, 2025 (Pomelo Group, Arrow Checkout, Open Payments, HSBC, Zing, DoubleCheck)
The fintech landscape is buzzing with activity today as innovative startups and seasoned industry leaders make headlines. From acquisitions to groundbreaking launches and funding rounds, these developments underscore the relentless pace of innovation in the financial technology sector. Here’s your comprehensive daily fintech briefing, featuring the latest updates and analysis.
Pomelo Group Acquires Arrow Checkout: A Power Play in Singapore Fintech
Pomelo Group, a leading name in the payment technology space, has announced its acquisition of Arrow Checkout, a fellow Singapore-based fintech company specializing in seamless online payment solutions. This strategic move not only strengthens Pomelo’s portfolio but also signals its commitment to becoming a dominant force in the Asian payment ecosystem.
Why This Matters:
Consolidation in fintech is nothing new, but this acquisition highlights how regional players are vying for dominance in Asia’s burgeoning e-commerce market. Singapore’s fintech scene has been thriving, and with this merger, Pomelo Group is poised to offer a more comprehensive suite of services to merchants looking for efficient, secure, and scalable payment solutions.
Commentary:
This acquisition could set the stage for further M&A activity in Southeast Asia, as fintech firms race to gain competitive advantages. Pomelo’s move shows that innovation and growth in fintech aren’t confined to the West—Asia remains a hotbed for cutting-edge developments.
Source: Fintech Finance News
The Gender Gap in European Fintech Funding: A Glimmer of Progress?
Stockholm-based Open Payments has raised €3 million in its latest funding round, marking a significant milestone for female founders in European fintech. Led by Louise Brandt, the company’s API-driven platform empowers businesses to integrate banking and payment systems seamlessly.
Why This Matters:
Despite ongoing challenges, Open Payments’ success reflects a slow but encouraging shift toward better funding opportunities for female-led fintech companies in Europe. Historically, women founders have faced an uphill battle in securing venture capital, but this story highlights that persistence and innovation are winning out.
Commentary:
Louise Brandt’s leadership and the company’s ability to raise €3 million indicate a turning point for underrepresented groups in fintech. While Europe still has a long way to go, Open Payments’ triumph serves as a testament to the growing appetite for diversity and inclusion in financial technology.
Source: Tech Funding News, EU-Startups
HSBC’s Closure of Zing Marks a Stark Warning for Neobanks
HSBC recently announced the closure of Zing, its digital-first challenger bank, due to profitability challenges. The news comes as a blow to neobank enthusiasts and raises questions about the viability of digital-only banking ventures in today’s competitive environment.
Why This Matters:
The closure highlights a recurring theme in fintech: profitability versus innovation. While neobanks have disrupted traditional banking, the struggle to maintain sustainable business models is evident. HSBC’s decision to wind down Zing underscores the difficulties of scaling digital-only offerings while competing against established players.
Commentary:
For startups, HSBC’s retreat may serve as a cautionary tale. Neobanks must focus on diversifying their revenue streams and offering unique value propositions to thrive in an increasingly saturated market.
Source: Sifted
DoubleCheck Names New CEO Amid Strategic Expansion
DoubleCheck, a fintech company revolutionizing overdraft management, has appointed Bryan Weatherford as its new CEO. With his extensive background in financial services and leadership, Weatherford is expected to drive the company’s growth and further establish its market presence.
Why This Matters:
Leadership transitions often signal new phases of growth and strategic shifts. DoubleCheck’s appointment of Weatherford highlights its ambition to expand its offerings and increase adoption of its innovative approach to managing overdrafts—a long-overlooked pain point in consumer banking.
Commentary:
With financial inclusion and customer-centricity becoming critical pillars of fintech innovation, DoubleCheck’s leadership shake-up may pave the way for broader adoption of fair and transparent financial tools.
Source: Fintech Finance News
SC Ventures and kiya.ai Unveil Akashaverse for Inclusive Digital Experiences
SC Ventures, the innovation arm of Standard Chartered, and fintech innovator kiya.ai have teamed up to launch Akashaverse, a digital ecosystem designed to promote inclusivity in financial services. The platform leverages the latest in AI, blockchain, and metaverse technologies to create immersive digital experiences tailored to a wide range of users.
Why This Matters:
Akashaverse represents a significant leap in bridging digital divides and making financial services accessible to underserved populations. By integrating cutting-edge technology into a user-friendly platform, SC Ventures and kiya.ai aim to redefine how financial services are consumed.
Commentary:
The launch of Akashaverse demonstrates the growing importance of collaboration in fintech. It’s a prime example of how partnerships between established financial institutions and nimble fintech startups can lead to transformative solutions.
Source: IBS Intelligence
Open Payments Secures €3 Million to Accelerate Growth
In addition to its groundbreaking impact on diversity in fintech, Open Payments’ €3 million funding round is set to drive its ambitious growth strategy. The company plans to enhance its API-driven platform, which streamlines bank and payment system integrations, and expand its reach across Europe.
Why This Matters:
As APIs continue to be the backbone of fintech innovation, Open Payments is positioning itself as a leader in this space. With fresh funding, the company can accelerate its mission to make financial services integration seamless and efficient.
Commentary:
This funding round not only validates Open Payments’ business model but also signals growing investor confidence in fintech infrastructure companies. As open banking gains traction, solutions like Open Payments are becoming increasingly vital.
Source: EU-Startups
From strategic acquisitions and funding milestones to leadership transitions and digital ecosystem launches, today’s fintech stories showcase the resilience and innovation driving the industry forward. As the sector evolves, certain key themes emerge:
- Regional Focus: Stories like Pomelo Group’s acquisition and Akashaverse’s launch highlight how regional initiatives are shaping global trends.
- Diversity and Inclusion: Open Payments’ success underscores the growing importance of leveling the playing field for underrepresented groups in fintech.
- Sustainability of Business Models: The closure of Zing serves as a reminder that profitability must go hand in hand with disruption.
For stakeholders, staying ahead requires a keen eye on these trends and a willingness to adapt. As fintech continues to redefine traditional financial services, one thing remains clear: innovation is the heartbeat of this industry.
Fintech Pulse will return tomorrow with more insights, updates, and analysis.
The post Fintech Pulse: Your Daily Industry Brief – January 24, 2025 (Pomelo Group, Arrow Checkout, Open Payments, HSBC, Zing, DoubleCheck) appeared first on News, Events, Advertising Options.
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