SoFi to buy banking-infrastructure firm Technisys for about $1.1 billion

SoFi Technologies Inc. is buying banking-software maker Technisys SA for about $1.1 billion, the latest in a string of deals designed to transform the lender into a one-stop financial shop.

The all-stock deal is equivalent to roughly 10% of SoFi’s market value. The deal gives SoFi control of its own core-banking platform, the back-end technology that banks use to power mobile-banking apps, open accounts and keep track of customer deposits.

Under CEO Anthony Noto, SoFi has looked to deal making to branch out beyond its roots as a lender that focused on refinancing student debt. This month, it became a bank when it completed its acquisition of Golden Pacific Bancorp Inc., a California community lender. In 2020, SoFi agreed to spend about $1.2 billion on Galileo Financial Technologies Inc., a financial-infrastructure company focused on issuing debit cards.

SoFi will use Technisys’s platform to roll out personalized…

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