Futuris Co., a Virginia-based human resources firm, has agreed to acquire two Cherry Hill-based staffing companies, it announced Wednesday.
Futuris, which acquires and operates executive search, staffing and consulting businesses, signed a definitive agreement to buy majority ownership of Fourth Technologies Inc., or Fortek, and Soft2001 Inc.
Fortek has been in the information technology and engineering sector for more than 30 years, with clients ranging from small businesses to Fortune 1000 companies. Soft2001 was founded nearly 25 years ago, with a focus on financial and accounting software and systems.
“The addition of these businesses will complement our growth strategy with operational synergies and proprietary technology,” Futuris President Kalyan Pathuri said in a prepared statement. “Located in a key Northeast region of the United States, New Jersey is a large job market with many established companies operating in the staffing and recruiting space. We believe that Fortek and Soft2001 will benefit from the Futuris platform and, in turn, offer great opportunities for Futuris to access valuable client relationships with IT companies and the local job market.”
Both deals are expected to close later this month. Financial terms were not disclosed.