Technology solutions company HeartCore Enterprises Inc. (NASDAQ: HTCR) recently agreed to acquire a majority stake in information technology (IT) solutions provider Sigmaways.
An aspiring leader in its industry, HeartCore offers software-as-a-service (SaaS) technology solutions to businesses, primarily through its platform that facilitates marketing, sales and customer service. Under the terms of the agreement, HeartCore will acquire a 51% share in California-based Sigmaways in an effort to expand its offerings — particularly in the United States.
HeartCore will most likely integrate Sigmaways as its software solutions provider with the goal of improving customer experience and satisfaction. The deal is expected to reduce HeartCore’s outsourcing costs, as the company will now be able to use Sigmaways’s in-house IT specialists. Both companies anticipate an expansion in their customer bases through upselling and cross-selling to their complementary markets.
HeartCore says it was drawn to acquiring Sigmaways because of the company’s similar workplace philosophy and ethos. Both companies pride themselves on premier customer service.
This acquisition represents what HeartCore hopes will be its strong entry into the U.S. market. HeartCore also collaborates with International Business Machines Corp. (NYSE: IBM), distributing its myInvenio mining process technology in Japan.
The vertical integration of technology services gained through acquiring Sigmaways will allow HeartCore to enter the same markets as Seattle-based software engineering companies like Qualtrics International Inc. (NASDAQ: XM) and Infobird Co. Ltd. (NASDAQ: IFBD).
At The Heart Of An Industry
“Sigmaways is a well-respected organization that has successfully proven its ability to utilize technology to help customers reach their business goals, which is on brand with our corporate philosophy and culture,” HeartCore CEO Sumitaka Kanno Yamamoto said. “Our team is thrilled to continue its work at the intersection of machine learning, language and sales, and we look forward to the closing of this acquisition, as we intend to fully capitalize on all the synergies hand in hand with the Sigmaways team.”
Sigmaways Founder and CEO Prakash Sadasivam said, “Our deep expertise as a system integrator in product engineering and technology solutions has helped clients turn IT into strategic assets through our digital advisory services. This collaboration will bring a network of IT professionals to clients across multiple industries.”
HeartCore recently closed an initial public offering in the U.S. at $15 million. As the industry continues to grow, with its compound annual growth rate (CAGR) predicted to be 11.3% per year, HeartCore hopes to become a leader in the field.
Meanwhile, Sigmaways generated almost $9 million in revenue in 2021.
Learn more about HeartCore at its website.
Learn more about Sigmaways at its website.
Headquartered in Tokyo, Japan, HeartCore Enterprises, Inc. is a leading software development company offering Software as a Service (SaaS) solutions to enterprise customers in Japan and worldwide. The Company also provides data analytics to create tailored web experiences for their enterprise clients. HeartCore’s customer experience management platform (CXM Platform) includes marketing, sales, service, and content management systems, as well as other tools and integrations, which enable companies to enhance the customer experience and drive engagement. HeartCore also operates a digital transformation business that provides customers with robotics process automation, process mining, and task mining to accelerate the digital transformation of enterprises.
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