Business
Futuris Company Announces the Acquisition of Savantis Staffing Division
Futuris Company Announces the Acquisition of Savantis Staffing Division.
About this update from Futuris Co.
[{"type":"text","content":"\n FAIRFAX, VA, June 21, 2022 (GLOBE NEWSWIRE) -- Futuris Company (OTC Pink: FTRS) a Human Capital Management (HCM) company focused on areas such as Staffing, Consulting and Tech Services, is pleased to announce the acquisition of the staffing portion of Savantis, a staffing operation unit comprised of approximately 80 billable US-based employee resources that support customers across a dozen industry verticals and over twenty technical competency areas. This business unit has been helping companies improve their operational efficiency by providing IT staffing and delivering end-to-end solutions and brings together an extensive global team of IT experts providing a variety of innovative industry solutions.  With significant global reach and resources and a deep network of technical expertise, this unit works closely with customers to provide business value while implementing comprehensive solutions with a low total cost of ownership. With offices in the United States and India, Savantis has a global team of about 100 employees servicing over 50 customers. Currently this group has not been fulfilling job orders from the various customers. They have been focused mainly on putting their billable resources to work. There is a big opportunity to work on these job orders and recruit more staff to increase revenues. “In 2021, the operating unit produced $16.4 Million in revenues, with over $3 Million in gross profit. The acquisition of the staffing division not only strengthens our portfolio of brands but also opens up a vast customer base,” said 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        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, wi...