SOSi Invests in AppTek
SOS International has acquired a non-controlling interest in Applications Technology (AppTek), a provider of artificial intelligence and machine learning for automatic speech recognition and machine translation.
Under the agreement, SOSi becomes the exclusive reseller of AppTek products to U.S. federal, state, and local government entities and SOSi and AppTek will jointly develop solutions for a variety of classified and unclassified use cases.
"We have been at the forefront of the federal language services market for more than 30 years," said Julian Setian, SOSi's president and CEO, in a statement. "As our customers' appetites for AI-driven solutions have increased, this is the latest of a series of investments we're making in market-leading commercial technologies that will disrupt the market and advance the mission capabilities of our customers."
"We are continuing to focus on developing and delivering AI and machine learning language technologies that are innovative, accurate, easy to use, and cost-effective," said Mudar Yaghi, CEO of AppTek, in a statement. "Given its history, SOSi is the perfect partner to help the federal government adopt the latest speech recognition and machine translation technology innovations."
"With technology, there's often a huge difference between being first to market and being the best in the market," said John Avalos, SOSi's chief operating officer, in a statement. "With the AppTek deal, we aim to be both in a market that has a long way to go before it realizes the full potential of the latest speech technology."
Its newly acquired interest in AppTek is SOSi's sixth acquisition. Previous deals involved analytics software company NorthStar Systems, New World Solutions, Defense Group, STG Group Holdings, and Vykin.