SoFi will acquire Technisys, which makes tools for banks, for around $1.1B in an all-stock deal; after going public via SPAC, SoFi's stock is down 28% in 2022
The all-stock deal is CEO Anthony Noto's latest move to make the onetime student lender into a full-service bank
“The all-stock deal gives $SOFI control of its own core-banking platform, the back-end technology that banks use to power mobile-banking apps, open accounts and keep track of customer deposits.” https://www.wsj.com/...
Impressive exit of Argentine unicorn Technisys. Someone should write a book about the incredible story of Argentine founders who jointly created over $70bn of value out of a country that is super difficult to work at. https://www.wsj.com/... bravo @miguelsantosw !!!
Big fan of @miguelsantosw and the whole Technisys team. Amazing outcome! And one additional piece of evidence that the Latam tech ecosystem produces world class tech infrastructure. @KaszekVentures we were lucky to partner in 2014. https://www.wsj.com/...