(LABSnews) Topaz, the financial solutions arm of the Brazilian Stefanini Group, announced the purchase of a majority stake in Cobiscorp, a US-based banking software company that has established a substantial customer base in the Americas (more than 70 financial institutions), including South America and some of the leading banks in Argentina, Bolivia, Colombia, Ecuador, Guatemala, Mexico, and Panama.

In a press release, the group said that this is its second-largest acquisition – Topaz’s third – and that the deal (whose value was not disclosed) demonstrates “the company’s strength to expand its portfolio in Latin America, which includes end-to-end solutions for the financial journey.” In the statement, Jorge Iglesias, CEO at Topaz, said that the acquisition of the company and its digital platform, called COBIS, will make Topaz a leader “in banking software to serve small, medium and large institutions across the region, ” with the “largest and most complete solution platform for the financial market in Latin America, including Brazil.”