Livingston-based SilverSun Technologies Inc. announced Wednesday that its subsidiary, SWK Technologies Inc., a national provider of transformational business technology services, acquired ESC Software, a leading Arizon-based reseller of Sage Software and Acumatica applications.
According to the announcement, the deal will add more than $1.7 million in annual revenue to SilverSun’s earnings. The acquisition, which cost $350,000, will be paid out over a five-year term.
"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,” Mark Meller, CEO of SilverSun, said in a prepared statement.
"We are very excited to have ESC Software and its founder, Alan Hardy, join our team," Jeffrey D. Roth, CEO of SWK Technologies, said in a prepared statement. "This acquisition makes SWK Technologies a dynamic force with significant market presence in the Southwest. 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. Our shared commitment to putting clients' needs first ensures ESC Software's client base will continue to receive superior service. We are very excited about our future prospects."