LIVINGSTON, NJ — (Marketwired) — 03/12/15 — (OTCQB: SSNT) (OTCBB: SSNT) announced today that its wholly owned subsidiary, SWK Technologies, Inc., a national provider of transformational business technology solutions and services, closed on the acquisition of Accounting Technology Resources (“ATR”), a leading California-based reseller of Sage Software and Acumatica applications. ATR has implemented technology solutions at prominent companies throughout California.
The deal will add more than $1,500,000 in annual revenue and will be immediately accretive to SilverSun–s earnings. The acquisition cost $255,000 in the form of a $175,000 3-year note and $80,000 cash.
Mark Meller, CEO of SilverSun, stated, “This transaction further solidifies our position as one of the largest resellers of Sage Software in the United States. We continue to execute on our business plan to increase value for our shareholders by increasing profitable sales and acquiring companies and technologies. We are exploring several additional acquisitions, and hope to be in a position to announce several new transactions in the coming weeks and months.”
“We are very excited to have ATR and its founder, Karen Espinoza McGarrigle, join our team,” added Jeffrey D. Roth, CEO of SWK Technologies. “This acquisition makes SWK Technologies a dynamic force with significant market presence in the western part of the U.S. With our management talent, in-house expertise, and financial resources, we are confident that the combined companies will be able to accelerate sales and earnings growth. We are very excited about our future prospects.”
SilverSun Technologies is involved in the acquisition and build-out of technology and software companies. The Company–s growth strategy is to acquire firms in the extensive and expanding, but highly fragmented, business solutions marketplace, as it seeks to create substantial value for shareholders. Since June 2004, SilverSun has acquired SWK Technologies, Inc., Business Tech Solutions Group, Inc., Wolen Katz Associates, AMP-BEST Consulting, Inc., Hightower, Inc., and ESC Software, Inc. Through its subsidiaries, the Company offers an array of accounting and business management products, including its own proprietary software, as well as a wide range of managed services and cloud services.
For additional information, visit SilverSun–s corporate website: .
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things our plans, strategies and prospects — both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as “believe,” “expect,” “anticipate,” “should,” “planned,” “will,” “may,” “intend,” “estimated,” and “potential,” among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. All forward-looking statements attributable to SilverSun Technologies, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.
Contact
SilverSun Technologies
Mark Meller
CEO
(973) 758-6108
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