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Softtek Acquires Majority Stake in Vector ITC
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Global IT services firm Sofftek has acquired a 75% stake in Madrid-based technology firm Vector ITC, giving Sofftek a firmer hold in Europe, Latin America and the U.S., and strengthening the company’s digital solutions offerings. Sofftek will integrate approximately 3,000 Vector ITC employees, giving it more than 15,000 worldwide.
Vector ITC is best known for its design and implementation of tech solutions that adapt to different industries, including banking, retail and tourism, and In 2019 increased its global client portfolio by 21%.
“There is an entrepreneurial spirit in Vector that is very compatible with the culture, vision and origins of Softtek,” said Blanca Treviño, president and CEO of Softtek. “We found the participation of their founding partners and current shareholders in the daily strategy and dynamics of the company compelling. It is an honor to add them to our team as executives and shareholders.”
Carlos Delgado, CEO of Vector ITC, added: “Our extensive sector experience, particularly in industries like financial services, retail and tourism for key digital transformation processes allow 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 competitiveness of tools we can offer and expand our client portfolio.”
Upon integrating Vector ITC, Softtek’s capabilities will be focused on digital solutions, advanced technology management and managed solutions, oriented to high business value results, all geared toward enabling Softtek’s clients to develop digital platforms and solutions.
“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.
“We welcome the customers and the talent of Vector ITC. Together we are a disruptive force in the digital services industry,” said Treviño, who will assukme the role of CEO of Softtek Europe. Former CEO of Softtek Europe Doris Seedorf will enter a new role as chief corporate development officer.
