Sonasoft (SSFT) Signs Definitive Purchase Agreement to Acquire
E-Connect Software, Inc.
SAN JOSE, CA -- May 2, 2019 -- InvestorsHub NewsWire
-- Sonasoft Corp. (OTCQB: SSFT), a leader in innovative
eDiscovery and artificial intelligence (AI) solutions is pleased to
announce that it has signed a definitive purchase agreement to
acquire the data engineering and artificial intelligence (AI)
company, E-Connect Software, Inc., and all its related interests,
assets, and intellectual property. The acquisition is expected to
become final after the audit completion of E-Connect Software’s
financial statements.
E-Connect Software, Inc. is a data engineering and AI consulting
firm with deep expertise and a proven track record in data
management, cloud migrations, and data integration. E-Connect
Software has an unaudited 2018 revenue estimated to be over $2.5
million with a net profit that exceeds 12 percent. E-Connect
Software is based in Fremont, California.
“We transform our customers’ data into intelligence,” said Frank
Velasquez, CEO of Sonasoft. “The acquisition of E-Connect
Software rounds out our AI business strategy, and together, we will
be a fierce competitor in the artificial intelligence market.
Just last week, we announced the completion of Hotify, which gives
the Company additional intellectual property. We now have an
artificial intelligence cloud-based platform, NuGene, that gives
new insights and intelligent solutions to customer challenges. The
acquisition of E-Connect Software extends our ability to apply data
science to all customer data sets and then to leverage NuGene for
more intelligent decision-making allowing for greater efficiencies
and productivity across all industries. This gives Sonasoft the
strength to be an end-to-end solution with services and IP.”
“When we approach prospective enterprises, we find that they
recognize the immense value in our AI platform, but some do not
possess the required expertise or resources to implement such a
solution,” continued Frank Velasquez. “We can now approach these
enterprises with not only the solution to give them a huge
competitive advantage, but also provide the expertise required to
ensure their AI projects deliver an immediately high ROI. The
synergy that E-Connect Software brings to our total AI offering
provides a complete package that few if any competitors
have.”
“The unification of E-Connect and Sonasoft will create immense
potential, both from a product and delivery standpoint,” said Jay
Sen, CIO of E-Connect Software. “We’ve discovered that nearly every
organization has grand expectations relating to its deployment of
artificial intelligence. E-Connect, combined with Sonasoft, will be
capable of providing AI solutions at every step along the way to
meet if not exceed these expectations. We intend to utilize
Sonasoft’s NuGene AI Platform combined with our expertise in data
engineering, data management, cloud migrations, and AI services to
offer a complete solution to supercharge our customers’ journey
into AI. We are extremely confident moving forward with our
business plan, and we cannot wait to get it started.”
E-Connect is the first of two recently announced potential
acquisitions under LOI to advance to a definitive agreement. The
Company continues due diligence on the second potential
acquisition, OPtimAIze, Inc., and will provide updates
appropriately as discussions and reviews progress.
Further updates regarding the company and its archiving,
eDiscovery, and artificial intelligence (AI) initiatives can be
expected as initiatives continue to progress.
For a no-cost consultation and to learn more about the power of
Sonasoft’s Artificial Intelligence (AI) Solutions, visit us
here: https://www.sonasoft.com/products/artificial-intelligence-ai/
To obtain the latest company updates in between press releases,
please follow us on Twitter @Sonasoft or visit us
here: https://twitter.com/Sonasoft
About E-Connect Software, Inc.
E-Connect Software, Inc. is a data engineering and AI consulting
firm that focuses on strategy, technology, and business
transformation to assist companies to undertake ambitious data and
advanced analytics projects to build new capabilities. The Company
provides strategic guidance and technology systems for clients to
solve their most complex and exciting business challenges that
involve data engineering, cloud migration, advanced analytics, and
artificial intelligence (AI)/machine learning (ML). E-Connect
Software’s business model is to engage both corporate technology
departments and business units to develop value-add
decision-supported solutions, which expands far beyond new
technology deployments. E-Connect Software, Inc. is based in
Fremont, California.
For further information about E-Connect Software, Inc., please
visit: http://www.e-connectt.com/
About Sonasoft
Sonasoft Corporation is a publicly traded corporation and is
listed on the OTCQB Markets under the trading symbol SSFT (OTCQB:
SSFT). Sonasoft is now an AI-first company. The Company intends to
integrate artificial intelligence (AI) into the Company’s core
business model, which includes enterprise-class archiving,
eDiscovery, and business continuity software solutions for
Microsoft Business Applications on Microsoft Windows platforms.
Sonasoft’s signature products for eDiscovery tools, which include
SonaVault 6.1 Email Archiving and eDiscovery Software, as well as
SonaVault Email Archiving Appliances, deliver affordable
enterprise-level functionality that exceeds compliance and
ease-of-use requirements of large and medium-sized businesses,
governments, school districts, organizations, and
enterprises. The Company recently updated and relaunched
SonaSQL. SonaSQL allows enterprises to easily perform backup,
recovery, and replication services to Microsoft SQL Servers.
SonaSQL also allows enterprises to seamlessly migrate to Microsoft
Azure. The Company also launched SonaSecure, which protects systems
from ransomware and other email-based threats as well as provides
email continuity services. In addition, Sonasoft offers data
export and migration services for competing email archiving
solutions. Sonasoft email archiving and eDiscovery solutions have
hundreds of deployments with an exceptionally high degree of
customer satisfaction. Founded in 2003, the Company is
headquartered in San Jose, California.
About Hotify (a Sonasoft
Company)
Hotify is an artificial intelligence (AI) software
company. The Company has created NuGene AI Platform, which
can develop robust intelligence agents (bots) in minutes.
NuGene’s agents can be applied to specific use cases across sectors
and industries. These include identifying customer turnover
in the retail sector, machine failure risk in manufacturing, sales
forecast and demand with Fortune 500 companies, win-lose prediction
within Salesforce opportunities, and accurate Q&A results with
large online self-help centers.
Hotify has developed thousands of ready-to-use AI components as
well as many proprietary algorithms as part of its platform.
The Company has worldwide enterprise customers in multiple market
segments.
Hotify Inc. was founded in 2018 and is headquartered in Santa
Clara, California.
For further information about Hotify Inc. and its advanced AI
solution, please visit: http://hotify.ai/
About Cornerstone Technologies (a Sonasoft
Company)
Based in the heart of Silicon Valley, Cornerstone Technologies,
a wholly-owned subsidiary of Sonasoft Corp., is a leading provider
of engineering services focused on messaging migrations, identity
access management, the modern data center, and managed services
solutions. Cornerstone Technologies plays a pivotal role in the
transformation of their clients' IT environments. Cornerstone
Technologies is a key partner to Microsoft, Dell/EMC, VMware, and
TransVault, and the Company has built an impressive customer list
across multiple verticals, which include retail, high tech,
healthcare, public transportation, and financial services.
For further information about Cornerstone Technologies, please
visit: https://cornerstonetechnologies.com/
Forward-looking Statements
This release contains statements that constitute forward-looking
statements. These statements appear in a number of places in this
release and include all statements that are not statements of
historical fact regarding the intent, belief or current
expectations of the Company, its directors or its officers with
respect to, among other things: (i) the Company’s financing plans;
(ii) trends affecting the Company’s financial condition or results
of operations; (iii) the Company’s growth strategy and operating
strategy; and (iv) the declaration and payment of dividends. The
words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,”
“believe,” “intend,” and similar expressions and variations thereof
are intended to identify forward-looking statements. Investors are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, many of which are beyond the Company’s ability to
control, and that actual results may differ materially from those
projected in the forward-looking statements as a result of various
factors.
For more information about Sonasoft’s email archiving solutions
and business continuity software, contact:
Mike Khanna
Sonasoft Corporation
Phone: (408) 708-4000
Source: https://www.sonasoft.com
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