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GFT Technologies and NMi Group engaging in M&A
Channel consolidation continues with deals struck to add geographical coverage and market expertise
London-based GFT Technologies has snapped up Sophos Solutions from Advent International, in a move that will add more skilled staff and a chance to expand into LATAM.
The addition of the Colombia-based fellow banking technology player will provide GFT with access to more staff that are certified on Murex and GRA. Gaining more depth on those fronts will give the firm the chance to pitch for larger and more complex digital transformation projects.
The deal also adds to the client base and the firm’s footprint, with Sophos Solutions active across Latin America. For GFT, the move adds 20 extra countries to its areas of operation, including Colombia, Chile and Panama.
“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.”
Sophos comes with a staff totalling more than 1,700 employees, which will increase GFT’s global headcount by almost 20% to more than 12,000. The deal is expected to close early next month. The terms were not disclosed.
Sophos Solutions CEO Felipe Villa said the deal would be a positive one for its staff and customers. “I see a perfect fit with combined expertise and global presence of Sophos and GFT,” he said. “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.”
TrustCB acquisition
Elsewhere, security testing inspection and certification player NMi Group has picked up TrustCB to bolster its position in the market.
TrustCB is the commercial certification body for the Common Criteria cyber security standard. The addition of the outfit adds more depth to NMi Group’s position as an operator in that space.
“Acquiring TrustCB fortifies our commitment to excellence in smart industrial devices,” said Yvo Jansen, NMi Group CEO. “By integrating accuracy in measurements with robust cyber security standards, we ensure regulatory compliance and enhance the overall reliability of our solutions.”
In response, Wouter Slegers, TrustCB CEO, said the two firms combined would safeguard the TrustCB Common Criteria and certification business.
“In practical ways, nothing changes: TrustCB stays the trusted, responsive partner as a certification body,” he said. “This synergy amplifies our commitment to precision and security in smart industrial devices, advancing the global standard for regulatory compliance and elevating the trustworthiness of our certified solutions.”
The year has already started with a steady trickle of M&A activity across the industry. Notable deals already struck in January include the $14bn move by HPE for Juniper Networks, last week’s move by CloudClevr for Bamboo, SonicWall picking up Banyan and, closer to home, Giacom snapping up Microsoft-focused intY.
