Futuris Co. (OTC: FTRS) announced it acquired majority ownership in two IT staffing companies based in Cherry Hill, New Jersey. The companies — Fourth Technologies Inc., also known as Fortek, and Soft2001 Inc. — have combined annual revenue of approximately $7.3 million. The deals were expected to close in September.

“The addition of these businesses will complement our growth strategy with operational synergies and proprietary technology,” Futuris President Kalyan Pathuri said.

Fortek has been in business for more than 30 years. Its key technology focus areas are cloud services, test and robotic process automation, cybersecurity, object-oriented programming and machine learning/AI.

Soft2001 focuses on financial and accounting software and systems. It was founded in 1996.

Futuris announced the acquisition of another staffing firm in August as well as a name change and $10 million investment.