Futuris Company Announces Acquisition of Computer Deductions Inc.

Rhea-AI Summary

Futuris Company (OTC PINK:FTRS) has successfully acquired Computer Deductions Inc (CDI), a notable software development service provider. CDI, serving esteemed clients like AT&T and IBM, specializes in custom systems and management consulting, boasting an EBITDA of $1.265 million. The acquisition aligns with Futuris’s strategic growth plans, enhancing its portfolio in the Solutions, Staffing, and Technology sectors. Both leaders expressed optimism about CDI's growth potential within the Futuris family, aiming for expedited growth through further acquisitions.

Positive

• Successful acquisition of Computer Deductions Inc enhances Futuris's value.
• CDI's EBITDA of $1.265 million could positively affect Futuris's financials.
• The acquisition is aligned with Futuris's robust growth strategy and acquisition pipeline.

Negative

• None.

FAIRFAX, VA / ACCESSWIRE / April 27, 2021 / Futuris Company (OTC PINK:FTRS) a consolidator of companies within the Solutions, Staffing and Technology space, is proud to announce the completion of the acquisition of Computer Deductions Inc (CDI), a software development service provider and management consultant.

Computer Deductions Inc. provides software development services to major corporations such as AT&T, DEC, IBM, NEC, Tandem, and UNISYS. The Company focuses on the design and development of large custom systems such as high-volume message switches, large database systems, and the automation of large clerical systems. Additionally, the company provides top management consulting services to produce feasibility studies, procurement documents, special studies associated with automation or communications, and assisting customer staff in the development of automated systems. Notably, CDI has developed communication line handlers for Disney, California Department of Justice, California Department of Motor Vehicles, and Tandem. The company has created hardware independent biometric processing software for mobile devices and tablets. Additionally, CDI is registered as a Value Added Reseller (VAR) for Unisys, HP, NCR, and Dell, supplying computer equipment and software. CDI boasts an EBITDA of $1.265 Million at the current rate.

"Success in the industry is driven by access to the latest and most efficient technology and techniques, marketing expertise, consistent sources of work, the ability to vary services to suit different needs, effective quality control, and having a good reputation. CDI excels in each of these areas and is well positioned for continued future growth and success," says Tom Calabro, CEO of Computer Deductions Inc.

Tom Calabro has over forty five years of experience in the public sector marketplace, with an emphasis on Law Enforcement, Public Safety and executive management. His specialties include a focus on Biometric processing, matching and identification technologies from matching servers to desktop Livescans to Mobile Identification devices and technology, systems integration and consulting, program development and operations expertise with systems of all sizes, from mobile to desktop to mainframe computer systems.

During the course of the last twenty years, Tom has functioned in the capacity of Executive Vice President and Sales Mgr. at the Sacramento Corporate headquarters Office of Computer Deductions Inc. His responsibilities include but are not limited to New employee recruitment, Performance and Salary review of Sacramento and southern California based employees, defining office policy, day to day office operations and Pre-Sales manager and support operations.

CDI operates from two facilities: (1) a 4,100 square foot office in Orangevale, California; and (2) a 6,440 square foot office and installation shop in Santa Ana, California. CDI's staff totals 38 full-time and 3 part-time, non-union employees, including 4 active principals.

"After a lengthy transaction period, we are pleased to welcome Computer Deductions Inc. to our Futuris family. This acquisition adds to the value of our company and is a continuation of strategic plans we have for our robust acquisition pipeline and expedited growth plans. We are in the midst of several transactions. Once finalized, we will be able to disseminate information to the public," says President, Kalyan Pathuri.

We encourage shareholders to continually visit our website and social media platforms for updates.

Website: www.futuris.company
Twitter: www.twitter.com/futuriscompany

About Futuris Company
Futuris is a Human Capital Management (HCM) company focused on the acquisition and operation of Executive Search, Staffing and Consulting Companies that specialize in professional service verticals such as Medical, Accounting/Finance, Information Technology, Recruitment Process Outsourcing (RPO), and Human Resources. The Company is committed to building a global staffing company through highly targeted and accretive acquisitions and operational efficiencies. For more information, please visit http://futuris.company/.

Forward-Looking Statements
Certain statements contained in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, anything relating or referring to future financial results and plans for future business development activities, and are thus prospective. Forward-looking statements are inherently subject to risks and uncertainties some of which cannot be predicted or quantified based on current expectations. Such risks and uncertainties include, without limitation, the risks and uncertainties set forth from time to time in reports filed by Futuris Company with the Securities and Exchange Commission. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends affecting the financial condition of our business and although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Consequently, future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward the forward-looking statements contained herein. The company undertakes no obligation to publicly release statements made to reflect events or circumstances after the date hereof.

Contact Information
Futuris Company
Preya Narain
Email: info.it@futuris.company
Phone: (347) 837-0626

SOURCE: Futuris

View source version on accesswire.com:
https://www.accesswire.com/642405/Futuris-Company-Announces-Acquisition-of-Computer-Deductions-Inc

FAQ

What does Futuris Company do?

Futuris Company is a consolidator focused on acquiring and operating businesses in the Solutions, Staffing, and Technology sectors.

What was the acquisition value of Computer Deductions Inc. by Futuris?

The press release does not specify the transaction value for the acquisition of Computer Deductions Inc.

How will the acquisition of CDI impact Futuris Company's future?

The acquisition is expected to enhance Futuris's portfolio and contribute positively to its growth strategy.

What services does Computer Deductions Inc. provide?

CDI provides software development services, management consulting, and specializes in large custom systems.

What are the anticipated benefits of the CDI acquisition?

The acquisition is expected to yield synergies, market expansion opportunities, and potential revenue growth for Futuris.