Sonasoft is a San Jose based company that understands the value of artificial intelligence and its significance for the world of enterprise. The firm has been a public entity for more than six years.
It focuses on providing value-added artificial intelligence optimized solutions aimed at behemoth enterprise organizations. It has an edge because it uses extensive experience in a wide variety of segments like data engineering to analytics and artificial intelligence consulting improve the enterprise domain.
The firm can provide value-added services by using NuGene, an autonomous cognitive artificial intelligence platform.
It is in the news because of its recent deal with Fidelity National Information Services, Inc.
The SSFT and FIS Deal
Why is this Sonasoft and Fidelity National Information Services transaction a big deal?
Well, in a word, credibility.
Sonasoft holds a market capitalization of 27.86 million, while Fidelity National Information Services commands a market cap of at least $82 billion. Further, Fidelity Information Services holds several subsidiaries like WorldPay, Clear2Pay, Chex Systems, among others.
That is a pretty significant difference between both of them, right? The only reason a firm like Fidelity National Information Services would enter into a deal with Sonasoft is that it believes it can hold up its end of the bargain. Fidelity National Information Services, an “American international provider of financial services technology and outsourcing services,” sees enough value to conduct a several-year deal with Sonasoft.
It is an exciting company, and there is much more to its story.
Don’t think that this is the first multi-year deal. Sonasoft is fortunate to have extensions with firms like Simpson Strong-Tie. It entered into an agreement with Simpson Strong-Tie in 2010 and has extended the relationship since then.
The company has grown and has been able to integrate more tools that can augment corporations like “predictive risk analysis, intelligent searching, and technology-assisted reviews,” according to a recent report by the firm.
Strong Record of Value Added Acquisitions
Sonasoft has taken decisive actions such as acquiring Hotify Inc., Cornerstone Technologies, and E-Connect Software to improve its operations and offerings.
Its acquisition of Hotify Inc. led it to have NuGene, the intriguing AI-cloud based platform that solves problems that relate to each industry. The Hotify acquisition lets Sonasoft access more expertise, create a more stellar and robust artificial intelligence foundation, and have more compelling solutions to provide to clients and partners.
Sonasoft has built up its research and development, intellectual property, expertise, and market coverage over time and will have more opportunities to do so with similar moves.
Remember that AI opportunities such as AI PaaS are just beginning and will inevitably grow over the long term. Large organizations such as Amazon, Microsoft, and others understand the extent of the field and invest further into this technology segment each year. Even companies such as Softbank have created funds to help accelerate this trend.
These firms know that the AI market is poised to grow at an exponential rate, and AI corporate spend will rise to at least $60 billion by 2023. The firm has a handful of international enterprise – level accounts and optimizes customer service to be a leader in the industry.