Press release

Equiteq advises Sophos Solutions on its acquisition by Advent International

December 11, 2020

Equiteq, the leading M&A advisory firm for companies in the Knowledge Economy, is pleased to announce that it has advised Sophos Solutions, a Colombian multinational technology company specializing in consulting services for the banking sector, on its sale to Advent International. Advent is one of the leading and longest-established private equity investors globally with a significant presence in Latin America. Over the past 24 years, the firm has invested or committed $6.8 billion in 64 businesses across Latin America.

Sophos Solutions was founded in 2006 by Indian visionaries and entrepreneurs. The company has been a key ally for the digital transformation and implementation of technological systems in financial institutions in Colombia and across the Americas.

Mauricio Salgar, Managing Director of Advent International in Bogota, stated, “Sophos Solutions is a great company in a sector with enormous potential. We plan to promote its growth and internationalization and foster its consolidation as a regional player. Our intention is to support financial institutions, promoting their development, consolidating their digital transformation processes, accelerating their modernization, and turning Colombia into a center of technology and innovation in Latin America. We are excited to be able to share our sector knowledge, best practices, and world-class operational resources, including the expertise of our global tech team.”

Mauricio Mosseri, CEO of Sophos Solutions, stated, “Over the last few years we have maintained a very good and successful relationship with Grupo bvc, which supported and strengthened the robust growth of our business in Colombia and the rest of the region. Now at this new stage in Sophos’ history with Advent as a new strategic partner, we hope to implement a growth plan that aims to turn Sophos into a world-class player in digital transformation in the region.”

Regarding Equiteq’s role in the transaction, Mauricio Mosseri said, “Equiteq's deep knowledge of the technology sector coupled with their comprehensive support and expertise in transacting in Latin America made them the ideal partner. Their experience and proficiency in structuring transactions exceeded our expectations.  Despite the challenges presented by COVID-19, Equiteq guided us through the process seamlessly and delivered an exceptional outcome."

Daniel Siller, Managing Director in Equiteq’s US office said, "This transaction faced all of the challenges of deal-making when in a pandemic.  The exceptional quality of our client and the resilient nature of their business allowed us to navigate to this successful outcome.  It has been an honor to work for such a great team and we are certain they will be highly successful with their new partner."