I’m pleased to share some exciting news regarding a step forward in our efforts to expand our expertise in security. We have acquired GAS Tecnologia, a leading Internet banking, online payment and mobile banking security company headquartered in Brasília, Brazil.
GAS is a software-led services provider specializing in security solutions for Internet and mobile banking that aim to prevent various types of fraud including phishing, pharming and key logging. It also offers clients a security information database service – a consulting service that allows individuals to stay up-to-date and educated about current threats in the industry. GAS employs more than 125 experts in the cyber security field.
There is a growing need for financial institutions to migrate transactions from the branch to self-service, mobile and Internet channels in order to reduce expenses. As this trend increases, so does the need to ensure the security of these transactions. This is at the heart of what GAS does – and integrating its offerings into our solutions portfolio positions us well for the future.
We will initially leverage this offering in Brazil, where we exhibit strong, technical expertise. However, we intend to provide breadth for GAS’ technology solutions and deliver similar offerings to Latin America and other international markets in the future.
Acquisition marks a step forward in execution of our security strategy
As I’ve mentioned previously, we are dedicated to investing in organic growth and making targeted, strategic acquisitions as part of our security strategy. This acquisition marks a step forward in the execution of that strategy, and is a great example of the types of growth opportunities we will continue to explore in the future.
Similar actions will allow us to make inroads into areas such as logical security where we currently do not have strong presence – which could provide opportunities for growth in the coming years. They will also allow us to increase our presence in the financial security market.
The potential for growth in the security space seems limitless. I’m confident that GAS will be a meaningful addition as we expand our security expertise and industry knowledge in Brazil and beyond.