Vencora Expands Banking Portfolio with Acquisition of Quarzo Tecnología

TORONTO, Jan. 26, 2023 (GLOBE NEWSWIRE) -- Vencora today announced the completion of the acquisition of Quarzo Tecnología ("Quarzo"), which becomes the fifteenth brand under Vencora's growing financial services portfolio.

Founded in 1995, Quarzo is a leading provider of software solutions for employee associations, savings funds, mutual funds and cooperatives in Central America. Quarzo's software (CODEAS) is a robust and integrated solution, with more than 55 modules focused on automating and controlling administrative, financial, accounting and customer service functions for its customers. It's headquartered in San Jose, Costa Rica.

"Quarzo's robust and integrated solutions are well positioned for success under Vencora's banking portfolio," said Mirela Verrelli, CEO of Quarzo. "We remain focused on serving our customers' needs, while looking forward to learning from Vencora leaders, as well as collaborating and becoming stronger together with other banking companies within the portfolio."

"We are incredibly excited to welcome Quarzo and its CODEAS software to the Vencora family," said Ateet Patel, Banking Portfolio Manager at Vencora. "The addition of Quarzo both compliments and strengthens Vencora's banking presence in the Central America region, and we look forward to providing opportunities for Quarzo to build on its incredible success and help propel its growth."

This acquisition further strengthens Vencora's position in the banking technology industry. At Vencora, we believe our companies become Stronger Together. Under Vencora, Quarzo will receive support from Vencora leaders, gain new best practices, and have ongoing opportunities to network and learn from leaders of its new sister companies, while the company continues to operate independently.

About Vencora

At Vencora, we build legends and preserve legacies. Vencora provides new acquisitions with business opportunities and the resources to pursue them. We are focused on bringing together a strong family of financial services software businesses to grow and continue serving the best interests of their customers and employees.

For more information, visit vencora.com

About Quarzo Tecnología

Quarzo has a strong presence within Costa Rica and other countries in Central America, with its CODEAS solution, an ERP for Employee Associations. The focus is to provide technology services tailored to the administrative and financial needs of their clients. The objective of these services will always be to generate agility, order, security, and confidence in their processes in an innovative way, making Quarzo a strategic ally. The company continues to evolve, with a focus on addition solutions related to accessing open online marketplaces and regulatory reporting to benefit the member of the Employee Associations.

For more information, visit quarzo.com

For further information:

Jonathan Denbok
Chief Marketing & Strategy Officer
Vencora
[email protected]