Sonasoft Corp (SSFT) Jointly Signs Purchase Agreement to Acquire Cornerstone Technologies
Sonasoft Corp. (OTCPK: SSFT), a leader in eDiscovery solutions and business continuity services, announces [May 1, 2018] that it has jointly signed a purchase agreement to acquire Cornerstone Technologies and all related interests and assets. The acquisition will be finalized after both companies have their financials audited and shareholder approval is obtained.
“Collectively driving Sonasoft to the next level is what this merger is about,” said Frank Velasquez, President and CEO of Cornerstone Technologies. “Cornerstone’s strengths are in marketing, sales, and developing enterprise relationships with high-end IT services that complement Sonasoft’s excellent technology and product offerings. We are confident that together our strengths will yield top-line growth and increase higher-margin returns.”
“We are committed to a path of acquisitions and have created a winning strategy to grow,” said Andy Khanna, CEO of Sonasoft. “Sonasoft provides a public vehicle for the combined companies to expand and grow. Once the Company has completed the audit, then we will file with the SEC to become a fully reporting company. The Company also intends to up-list to the OTCQB. The Company’s ability to raise capital from these initiatives will fuel our efforts to acquire additional companies and technologies that will expand our bottom-line revenue and market share value.”
The closing of this acquisition is subject to the completion of due diligence. Both companies will have their financials audited and shareholder approval will be required before the acquisition is completed. Shareholders and the investment community will be kept updated regarding the progress of this acquisition accordingly.
Sonasoft Corporation is a publicly traded corporation and is listed on the OTC Markets under the trading symbol SSFT. Sonasoft’s core business model includes enterprise-class email 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 5.0 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 small and medium-sized businesses, governments, school districts, organizations, and enterprises. Sonasoft recently expanded its product offering to include an email archiving and eDiscovery platform in the cloud. The company currently is developing its second-generation cloud offering, which also will include a public request workflow with auditing features and data analytics. 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.