Sonasoft (SSFT) Completes Acquisition of Artificial Intelligence
(AI) Company, Hotify, Inc.
SAN JOSE, CA -- April 25, 2019 -- InvestorsHub NewsWire
-- Sonasoft Corp. (OTCQB: SSFT), a leader in
innovative eDiscovery and artificial intelligence (AI) solutions is
pleased to announce that it has completed the acquisition
of Hotify, Inc. and all its related interests, assets, and
intellectual property. Hotify’s accounting books have been
audited, and Sonasoft’s Board has approved the
acquisition. The completion of these objectives finalized the
acquisition that now makes Hotify, Inc. a Sonasoft company.
“This acquisition is pivotal to Sonasoft’s future,” said Frank
Velasquez, CEO of Sonasoft. “Hotify’s IP offers real
intelligence. For enterprise clients who seek to quickly transform
their raw data into new insights and solutions, Hotify’s
cloud-based artificial intelligence (AI) platform, NuGene, offers
immediate value. Sonasoft will not only integrate Hotify’s AI
technology into its solutions but will also obtain revenue from AI
related services and OEM (original equipment manufacturers)
relationships. Sonasoft now can deliver AI solutions for
customer support departments to reduce their per-incident costs
through deflection. Our artificial intelligence also can
maximize lead development that is contained within CRM
platforms.”
“Our AI platform, NuGene can offer a quick and flexible way to
obtain new insights and solutions from a variety of data points for
almost any application through its API (application programming
interface) capabilities,” continued Frank Velasquez. “This
means that we can connect to a variety of data points from almost
any application. Hotify’s AI IP fills a void in the market,
which we will leverage to maximize our expansion into enterprise
accounts and vertical systems integrators. This will allow us to
excel in this high growth market.”
The Company is working on multiple AI solutions for finance,
IOT, retail, eDiscovery, manufacturing, the automotive industry,
and more.
“This acquisition has allowed us to open new doors,” said Ankur
Dinesh Garg, CEO of Hotify. “We have been busy introducing our AI
platform, NuGene, to some of the biggest tech leaders in the
industry. These companies are household names with billions
of dollars in revenue. They have been amazed at how our AI
platform can take complex data from multiple sources and quickly
deliver new insights and answers. A typical response from
these companies is, ‘This is exactly what we have been looking
for!’ After the first meeting, these companies quickly
schedule additional meetings with other department heads and
C-level executives. The momentum grows. We are now working
hard on securing revenue-producing proof of concepts so that we can
show these corporate giants what they can achieve with our
platform. We know that our AI solution produces amazing results in
a short period of time. We have successfully challenged big
brand-name AI solutions. In one case, our results marked an
improvement of nearly 400 percent. We are aiming to have our
technology be as disruptive as possible, and we are off to a pretty
good start.”
“Sonasoft has come a long way in its nearly 18 years of
operations,” said Andy Khanna, Founder and Vice
Chairman. “Many of our investors and employees have kept
together through the years and can now see that we, as a company,
have progressed from data preservation and business continuity to
enterprise solutions from artificial intelligence. The effort has
been worth it, and we are all energized to be part of this
transformation.”
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 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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