LIVINGSTON, N.J., Sept. 24, 2015 (GLOBE NEWSWIRE) -- SilverSun Technologies, Inc. (OTCBB:SSNT) (OTCQB:SSNT) announced today that its wholly owned subsidiary, SWK Technologies, Inc. (the “Company”), a national provider of transformational business technology solutions and services, has signed a non-binding letter of intent to acquire The Macabe Associates, Inc., a leading Seattle-based developer and reseller of Sage and Acumatica applications.
The deal is expected to add roughly $1 million in annual revenue. It is anticipated that the transaction, which is subject to the signing of definitive agreements and customary closing conditions, will close on or before September 30, 2015. The terms of the transaction were not disclosed.
Mark Meller, the Company’s Chief Executive Officer, stated, “The Macabe Associates has an impressive library of proprietary solutions and integrations, and a strong, established customer base. With our existing sales and marketing infrastructure, we believe we can substantially increase the revenue generated by these proprietary products. We continue to execute on our business plan to increase value for our shareholders by increasing profitable sales and acquiring companies and technologies.”
“This acquisition further enhances SWK’s position within the Sage and Acumatica ecosystems,” added Jeffrey D. Roth, Chief Executive Officer of SWK Technologies. “Our management talent, in-house expertise, and financial resources will enable us to rapidly accelerate sales from the Macabe customer base. Furthermore, the addition of Mary Abdian and her team will provide us with additional development talent to create more proprietary applications and integrations. We are very excited about this acquisition, and the opportunities it provides us for future growth."
About SilverSun Technologies, Inc.
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., ESC Software, Inc., Accounting Technologies Resources, Inc., and ProductiveTech, 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 network services and cloud services.
For additional information, visit SilverSun's corporate website: www.silversuntech.com.
Forward Looking Statements
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.
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Source:SilverSun Technologies, Inc.