Federal Soft Systems Announces 16 Tech Products Acquisition for USD 15 Million
Federal Soft Systems (FSS) has been working on various development products which are very useful in multiple aspects and across industries.
Federal Soft Systems, a leader in People Resourcing & IT services has acquired multiple technology products for USD 15M to strengthen its position in IT Products.
FSS unveiled the range of products during an event at the Grand Ridge Hotel, Tirupati on Oct 1st.
Federal Soft Systems (FSS) has been working on various development products which are very useful in multiple aspects and across industries. Additionally, MD-NBMSME Prof Rajesh Sharma was present as the Chief Guest during the product launch of FSS. He stated that the organization will strivto promote the initiatives of FSS under the Make in India programs. Some of the initiatives to be worked upon are –
1. MyTalkingTree brings Artificial Intelligence right to school via three mantras of visual, aural and verbal interaction for revolutionizing the learning ability of students.
2. Magik Mat, interactive activity-based gaming and learning medium for enhancing the holistic development of a child. Further, It helps to improve physical activities and also enhance and improve the mental ability of kids.
3. Interactive Drawing Board is an 18″x12″ size Interactive Board where the character drawn on it will interact with kids, making learning more interesting. It works on Bluetooth technology and can be connected to any Android device.
4. Sameboat, a social community platform works like building closed small communities made of fans and followers, who are loyal and share the same set of goals & emotions. Focused communities with a limited fan base can help in easy interaction and making new friends.
5. Trureason, an AI application that can act as a personal assistant to take calls on the user’s behalf when they are busy and also provide virtual numbers to prevent exposing the personal phone number.
6. Sparkasap, a platform that enables all MSME’s to start or automate their businesses using the cheapest technology solutions. With Sparkasap you can start and run a company in less than $50.
7. Rolloverstock, an eCommerce platform for buying and selling leftover stock items.
8. Artrails, revolutionizing the investing experience with options to invest in paintings from renowned artists. Discover paintingsand artists with the ARTrails mobile app.
9. Lockvies, a platform that helps in saving passwords easily and a platform to enable Voice passwords.
10. Agump, a platform to generate and showcase advertisements using IoTconnected devices
11. Maids4uOnline, premier housekeeping supplier that delivers a bespoke, quality service designed to suit busy lifestyles.
12. 1hourdeveloper, a platform to find and recruit software developers for professional and Adhoc needs on an hourly basis
13. Where is my pocketmoney, an app where parents can set goals and tasks in order to release their monthly pocketmoney
14. Subscrizy – Tracking subscriptions, a platform that makes users never pay for an unwanted subscription again. Users can opt for a conciergeto cancel services on behalf of the user
15. Coupounding – A plugin to copy all the offer coupon codes and autofill and remind users during the checkout process
16. Rezumr: Applicant Tracking software allows organizations to easily manage the hiring process by maintaining a database of applicant and job information
Adding to the above, FSS kept an eye on more products under development such as Trureason, Sparkaspa, Lockvies, Agump, Goal-based pocket money, and Coupon codes to name some.
Participating in the event, Chairman of AP State Skill Development Corporation (APSSDC) Konduru Ajay Reddy stated that skills training will be acting as a vital bridge between academic and industry. To further support this, the Andhra Pradesh government will be establishing 25 skill colleges and one non-IT University and IT university in the state to hone skills for better employability and innovation. FSS has collaborated with AP Skill Development for recruiting 500 resources batch-wise.
Kishore Yedam, CEO Federal Soft Systems, said,”The acquisition puts a stake in the ground around FSS commitment to providing our customers with end-to-end technology products across the domains.”
Kishore K, Managing Director Federal Soft Systems, said,”We are excited to expand our product portfolio in the Asia and Global markets with enhanced product offerings that advance our objective to offer an effortless experience to our consumers and customers.”
Kalyan Krishna C, Director Federal Soft Systems, said,”FSS is also onboarded new Directors after acquiring as Hari Babu N, Rayala Satya, Naresh Kumar M.”
Total consideration for the transaction is approximately $15 million, subject to customary adjustments. The acquisition is anticipated to be completed in the third quarter, subject to customary closing conditions and necessary regulatory approvals.