Canadian group acquires Uruguayan technology company

By Pittaluga Abogados

The technology company Infocorp, one of the largest in the sector in Uruguay, was acquired by Constellation Software, a Canadian group that provides software and services to more than 100 markets and has an annual turnover of around US$3 billion. Infocorp is one of the reference firms in the implementation of digital channels for the financial sector in Latin America.

According to the newspaper El País in its June 5 article, this is the first company specialized in this area that the Canadian group has acquired in South America. The acquisition will not modify the company's operations in the country but is expected to underpin its growth in the region, in a sector where Uruguayan talent has demonstrated its vocation for excellence, leadership, and innovation.

Infocorp is a technology company specialized in generating omnichannel platforms for banking. Focused on providing innovative solutions in development and infrastructure, the company is behind the electronic channels of prestigious financial institutions such as Banco Santander, Banco de Bogotá, and Banco Caribe.

Created by Uruguayan Gabriel Colla more than 25 years ago, the firm now has subsidiaries in Puerto Rico, Panama, Colombia, and Chile, from where it operates with more than 50 clients in 17 countries. Currently, more than 250 people work in its software development and innovation centers in Santiago de Chile, Montevideo, and Colonia.

The acquisition of the firm by Constellation Software was completed on May 20, 2020, through Aquila, one of the group's companies based in the United States.