Acquisitions

Softtek acquires 75% of Vector ITC’s shares

LatAm ListSofttek, a Mexican global provider of process-driven IT solutions that helps Global 2000 organizations evolve through digital technology, recently announced the acquisition of 75% of the shareholding of Vector ITC, a Spanish technological group.

Vector ITC provides tech solutions to different sectors including banking, retail, and tourism. In 2019 the company grew its portfolio by 21% with Europe and Latin America representing the most important markets.

“Our extensive sector experience, particularly in industries like financial services, retail, and tourism for key digital transformation processes, allows us to position ourselves as an expert company in these segments. This is an important asset to Vector, which now as part of the Softtek family, will enable us to improve the competitiveness of tools we can offer and expand our client portfolio,” stated Carlos Delgado, CEO of Vector ITC.

The integration of the companies will strengthen their consultancy capacity, provide support from the Americas and Europe, as well as create greater possibilities for attracting and retaining talent, among other benefits.

“With this acquisition, our penetration and scope of service in the European market are strengthened, which allows us to achieve a very balanced position between the U.S., Latin America, and Europe—a component that we know is valuable to help propel the digital transformation of our clients in the different regions of the world where they have presence. We welcome the customers and the talent of Vector ITC. Together we are a disruptive force in the digital services industry,” said Blanca Treviño, president and CEO of Softtek.

As of January 2020, the Vector ITC brand will operate as Vector ITC, a Softtek Company.

Read more on this press release

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