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SoFi to Purchase Banking-Infrastructure Agency Technisys for About $1.1 Billion

SoFi to Purchase Banking-Infrastructure Agency Technisys for About .1 Billion

SoFi Applied sciences Inc. is shopping for banking-software maker Technisys SA for about $1.1 billion, the most recent in a string of offers designed to rework the lender right into a one-stop monetary store.

The all-stock deal is equal to roughly 10% of SoFi’s market worth. The deal offers SoFi management of its personal core-banking platform, the back-end know-how that banks use to energy mobile-banking apps, open accounts and hold monitor of buyer deposits.

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