Dalrada Completes Acquisition of Software Development Company

HENDERSON, Nev., Feb. 3, 2020 /PRNewswire/ -- Dalrada Financial Corporation DFCO, is pleased to announce that it has completed the acquisition of Prakat Solutions, Inc. in an all stock swap deal.  The acquisition strengthens Dalrada's engineering & healthcare solutions providing enhanced real-time monitoring and customer experience platforms, along with opportunities to increase revenues through technology implementations.

Prakat India provides the wide range of capabilities to support Dalrada customers by setting up dedicated call centers, automated service delivery offerings, and a new market potential for the company's products and services.  "When we set out to build our renewed business model, we knew it needed a global footprint, and most importantly the right personnel to realize our vision.  We are confident that Prakat's management team will continue to excel and complement our solutions," said Brian Bonar, CEO of Dalrada.  

Prakat is headquartered in Bangalore, India and maintains offices in Denver, Colorado and Irving, Texas.  The team provides end to end product engineering services in a variety of fields including banking and financial services, telecom, retail, healthcare, manufacturing, legal, and IT infrastructure. An ISO 9001-certified company with a customer base that includes several Fortune 1000 clients, with service offerings in software engineering, mobile development, data analytics, artificial intelligence and data science, and accessibility engineering. 

The company has developed a sales strategy to target US-based opportunities for project-based and staff-augmentation solutions, and soon will be opening up an office in California to facilitate operations.  With an established pipeline to tap into and the necessary support from Dalrada, Prakat will have a strong competitive advantage to offer unique and novel business solutions.  "This is another revenue stream that we will capitalize on, providing end-to-end services for our products.  It can be positioned as a package or a la carte, with tiers of skillsets and experience based on the customer need," continued Bonar.

The deal is expected to be accretive to earnings for quarter ending March 31, 2020.

About Dalrada Financial

Dalrada Financial Corp. DFCO solves real-world problems by producing innovation-focused and technologically-centered solutions on a global level. Delivering next-generation manufacturing, engineering, and healthcare products and services designed to propel growth, Dalrada is a team of industry experts and an organization built upon a strong foundation of financial capital. The company and its subsidiaries are positioned for stable long-term growth through intelligent market research, sound business acumen, and established operational infrastructure. For more information, please visit www.dalrada.com or call 1-858-283-1253.

About Prakat Solutions

Prakat is a technology solutions company specializing in test engineering, accessibility engineering, product engineering and application modernization. Prakat partners with clients to create a transparent, value-based relationship, leveraging the extensive experience of its team to provide innovative solutions in a wide range of technology domains that enable customers to successfully attain their business goals. The Prakat work culture is truly based on the belief, "we believe in what we do; we do what we love." Prakat is an ISO 9001-certified company with several Fortune 1000 customers. With its main engineering center in Bangalore, India, the company also has offices in Fort Worth and Denver. The Prakat team provides end-to-end product engineering services across various domains including banking and financial services, telecom, retail, healthcare, manufacturing, legal, and IT infrastructure. For more information, please visit www.prakat.com.   

Disclaimer

Statements in this press release that are not historical facts are forward-looking statements, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K.

SOURCE Dalrada Financial Corp.