With new innovations being developed and manufactured in the technology sector, there is a wide variety of software solutions that streamline a variety of business operations that include everything from payroll to operations and back office functions. In order to stay ahead of this ever-evolving market, strategy and solutions companies will often seek to acquire already existing companies that already utilize their desired technology is already, instead of using their own resources to develop new software. SilverSun Technologies Inc. ($SSNT) is one such company looking to stay ahead of the competition with their latest business move.
On Friday, SWK Technologies, a wholly owned subsidiary of SilverSun Technologies, announced its signing of a non-binding letter of intent (LOI) to acquire The Macabe Associates Inc. Although the terms of the transaction have not been disclosed, the deal, projected to add $1 million in annual revenue, is expected to be completed by September 30, 2015.
SWK Technologies is a business application and consulting company that provides information and business management solutions. In an effort to further serve their client’s business strategy and solution needs, SilverSun Technologies looks to acquire technology and software companies that allow it to compete in the business solutions marketplace. The move to acquire The Macabe Associates, a developer and reseller of Sage and Acumatica applications, is in line with SWK’s mission to stay competitive in this expanding market, while also increasing annual revenue.
“The Macabe Associates has an impressive library of proprietary solutions and integrations, and a strong, established customer base,” said, Mark Meller, CEO of SilverSun Technologies. “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.”
Planning for Future Growth by Investing in Software Development
Sage and Acumatica are both enterprise resource planning (ERP) softwares used to automate back office functions. “This acquisition further enhances SWK’s position within the Sage and Acumatica ecosystems,” said Jeffrey D. Roth, CEO 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."
By investing in development talent pioneered by a reputable company, SWK Technologies gets the best of both worlds. Planning ahead will establish SWK as a major player in providing solutions while keeping their stockholders happy with revenue growth.
For more information about SilverSun Technologies, visit www.silversuntech.com.
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