IT Staffing Report: Oct. 7, 2021

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Futuris buys IT staffing provider Akvarr, completes disposal of previous acquisition

Staffing provider Futuris Co. (OTCMKTS: FTRS) acquired Akvarr Inc., an IT staffing firm based in Fairfax, Virginia, with offices in US and India. Futuris also announced the disposal of a previous acquisition, Pioneer Global Inc.

Akvarr was founded in 2007 and has more than 100 employees globally. It’s led by CEO Vijai Anand.

“I’m looking forward to working with the team to help expand their footprint and cross-sell their services across our assets to realize incremental revenue and profitability growth,” Futuris President Kalyan Pathuri said.

Akvarr customers include GE and Dell.

The deal closed on Oct. 1.

Separately, Rockville, Maryland-based Futuris announced it completed its disposition of Pioneer Global Inc. on Sept. 29. Futuris had acquired the company in August 2020, but it has now sold it to its former owners, who had already taken back operating control.