FAIRFAX, VA, Feb. 01, 2022 (GLOBE NEWSWIRE) -- Futuris Company (OTC Pink: FTRS) a Human Capital Management (HCM) company focused on HCM Staffing, Consulting and Tech Services, is excited to announce the acquisition of Cadan Technologies.
First Avenue Funding ("FAF"), a premier lending company based in Alabama, has financed this transaction. FAF has a long-standing association with Futuris Company and some of its principals and has assisted in multiple transactions in the past.
Cadan Technologies offers a variety of technology services which include technology lifecycle management, IT staffing, cloud solutions, data storage, data security & remote access, and web services. The company also provides products such as new & re-certified equipment from leading manufacturers, as well as sales, repair, maintenance, and installation of Windows® desktops and servers.
Based in Eagan, Minnesota, Cadan Technologies has over thirty years of experience in their field. The has fulfillment agreements with manufacturers and national computer distributors, such as Dell, Lenovo, D&H, Ingram Micro, SYNNEX and Tech Data. With their partners, Cadan Technologies can service client locations nationally. In 2021, Cadan brought in impressive revenues of just north of $16 million. The company is on track to continue record sales, as the remote workforce is now entrenched in the workplace – this business will likely see double digit growth for the foreseeable future.
Founded by Cassandra Rogers, Cadan Technologies, a Certified Woman Owned business, has emerged to be a leading provider of technology solutions and lifecycle management.
“With the recent changes we’ve seen in the world of IT and our ability to adapt, Cadan Technologies was looking to grow our business through acquisition or merger. Futuris Company provided us the means to achieve our goals and now we have a family of like companies and leadership to make this possible. Our management and staff are excited to be a part of the Futuris family and look forward to the next phase of this journey,” said Daniel Rogers, CEO, Cadan Technologies.
For more information about Cadan Technologies, please visit https://cadan.com/.
Kalyan Pathuri, President of Futuris Company exclaimed, “We are beginning 2022 with the acquisition of Cadan Technologies, a powerful brand to add to our growing portfolio. We will be keeping our shareholders informed as we work on our due diligence for other acquisitions we are looking to close.”
