Sonasoft Signs Definitive Purchase Agreement to Acquire E-Connect Software, Inc.

Sonasoft announces 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. 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.

Press Announcement

Sonasoft Corp., a leader in innovative eDiscovery and artificial intelligence (AI) solutions is pleased to announce [May 2, 2019] 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.

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.

Read the complete release at Sonasoft Signs Definitive Purchase Agreement to Acquire Data Engineering and Artificial Intelligence (AI) Company, E-Connect Software, Inc.

Additional Reading

Source: ComplexDiscovery

Business as Unusual? Eighteen Observations on eDiscovery Business Confidence in the Summer of 2020

The results of the recent Summer 2020 eDiscovery Business Confidence Survey present the unfortunate and continuing impact of COVID-19 on the business of eDiscovery. However, for these pandemic-driven results to be fully understood, they should be viewed through the contextual lens of the results of all nineteen surveys that have been administered to eDiscovery professionals since the inception of the eDiscovery Business Confidence Survey in early 2016.



Check Out the Observations Now!

ComplexDiscovery combines original industry research with curated expert articles to create an informational resource that helps legal, business, and information technology professionals better understand the business and practice of data discovery and legal discovery.

All contributions are invested to support the development and distribution of ComplexDiscovery content. Contributors can make as many article contributions as they like, but will not be asked to register and pay until their contribution reaches $5.

Sharing is Caring? ayfie Group Lists on Merkur Market of Oslo Stock Exchange

According to Johannes Stiehler, CEO of ayfie Group, in a July...

XDD Acquires Anexsys

According to David Moran, XDD President and COO, “Complementing our recent...

Missing Something? Topic Modeling in eDiscovery

The basic idea behind topic modeling, according to eDiscovery expert and...

HaystackID and NightOwl Global Merge

According to today's announcement, the NightOwl merger is HaystackID's fourth major...

A Running List: Top 100+ eDiscovery Providers

Based on a compilation of research from analyst firms and industry...

The eDisclosure Systems Buyers Guide – 2020 Edition (Andrew Haslam)

Authored by industry expert Andrew Haslam, the eDisclosure Buyers Guide continues...

The Race to the Starting Line? Recent Secure Remote Review Announcements

Not all secure remote review offerings are equal as the apparent...

Enabling Remote eDiscovery? A Snapshot of DaaS

Desktop as a Service (DaaS) providers are becoming important contributors to...

Home or Away? New eDiscovery Collection Market Sizing and Pricing Considerations

One of the key home (onsite) or away (remote) decisions that...

Revisions and Decisions? New Considerations for eDiscovery Secure Remote Reviews

One of the key revision and decision areas that business, legal,...

A Macro Look at Past and Projected eDiscovery Market Size from 2012 to 2024

From a macro look at past estimations of eDiscovery market size...

An eDiscovery Market Size Mashup: 2019-2024 Worldwide Software and Services Overview

While the Compound Annual Growth Rate (CAGR) for worldwide eDiscovery software...

Business as Unusual? Eighteen Observations on eDiscovery Business Confidence in the Summer of 2020

Based on the aggregate results of nineteen past eDiscovery Business Confidence...

A Growing Concern? Budgetary Constraints and the Business of eDiscovery

In the summer of 2020, 56% of respondents viewed budgetary constraints...

A Change in Tempo? eDiscovery Operational Metrics in the Summer of 2020

In the summer of 2020, 91 eDiscovery Business Confidence Survey participants...

Shifting Gears? eDiscovery Business Confidence Survey Results – Summer 2020

This is the nineteenth quarterly eDiscovery Business Confidence Survey conducted by...

Sharing is Caring? ayfie Group Lists on Merkur Market of Oslo Stock Exchange

According to Johannes Stiehler, CEO of ayfie Group, in a July...

XDD Acquires Anexsys

According to David Moran, XDD President and COO, “Complementing our recent...

HaystackID and NightOwl Global Merge

According to today's announcement, the NightOwl merger is HaystackID's fourth major...

Mitratech Acquires Tracker Corp

The acquisition supports Mitratech’s mission to provide legal and compliance solutions...

Five Great Reads on eDiscovery for July 2020

From business confidence and operational metrics to data protection and privacy...

Five Great Reads on eDiscovery for June 2020

From collection market size updates to cloud outsourcing guidelines, the June...

Five Great Reads on eDiscovery for May 2020

From review market sizing revisions to pandemeconomic pricing, the May 2020...

Five Great Reads on eDiscovery for April 2020

From business confidence to the boom of Zoom, the April 2020...

[New Survey]
[New Survey]