Babel has acquired Colombian technology firm Meraki to enhance its digital transformation capabilities and strengthen its presence in the Latin American banking sector.

Target Information

Babel, a Spanish multinational technology company specializing in digital transformation solutions, has announced its acquisition of the Colombian technology firm Meraki. This strategic acquisition is significant as it enhances Babel's operational capacity in Colombia, one of the key markets in Latin America. With this move, Babel expands its service network in Colombia, particularly in critical sectors such as banking, thus strengthening its model of supporting global clients from established local structures.

Meraki boasts a team of over 120 professionals specializing in cutting-edge technologies tailored for the banking sector. The integration of Meraki will contribute to Babel's overall workforce, bringing the total to over 3,500 employees globally, thereby furthering the company's strategic inorganic growth alongside five other acquisitions in the last four years.

Industry Overview

The banking sector in Colombia is undergoing rapid digital transformation, driven by increasing consumer demand for efficient and innovative financial solutions. The rise of fintech comp