SilverSun Technologies Signs Letter of Intent to Acquire ESC Software
April 03 2014 - 9:00AM
Marketwired
SilverSun Technologies Signs Letter of Intent to Acquire ESC
Software
Arizona Firm's 2013 Revenue Exceeded $1.7 Million
LIVINGSTON, NJ--(Marketwired - Apr 3, 2014) - SilverSun
Technologies, Inc. (OTCBB: SSNT) (OTCQB: SSNT) announced today that
its wholly owned subsidiary, SWK Technologies, Inc., a national
provider of transformational business technology solutions and
services, has signed a letter of intent to acquire ESC
Software, a leading Arizona-based reseller of Sage Software
and Acumatica applications. Founded in 2000, ESC has implemented
technology solutions at prominent companies throughout the
Southwest.
The deal is expected to add more than $1,700,000 in annual
revenue and will be immediately accretive to SilverSun's
earnings. It is anticipated that the transaction, which is
subject to the signing of definitive agreements and customary
closing conditions, will close on or before April 30, 2014. The
terms of the transaction were not disclosed.
Mark Meller, CEO of SilverSun, stated, "ESC Software and its
founder, Alan Hardy, have a tremendous reputation spanning several
decades as a valued Sage business partner. The company has a solid
revenue stream and a strong, established customer base. 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. "
"This acquisition makes SWK Technologies a dynamic force with
significant market presence in the Southwest," added Jeffrey D.
Roth, CEO of SWK Technologies. "Further, the fact that both SWK and
ESC have added Acumatica to their portfolios is an indicator that
our business strategies are very much aligned. 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."
About ESC Software
Founded in 1989, ESC Software is one of the Southwest's leading
providers of business management software for growing companies of
all sizes and industries. ESC Software provides a full breadth of
services such as pre-sales consulting, needs analysis, system
review and design, implementation, training, support and strategic
planning.
ESC Software is committed to excellence -- in our staff, our
service and the products we represent. Covering every facet of
business management, our applications are backed by publishers with
a global presence, who are known for their strength and strategic
direction.
For additional information, visit ESC Software's corporate
website: http://www.escsoftware.com/
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. and Hightower, 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
value-added services.
For additional information, visit SilverSun's corporate website:
www.silversuntech.com
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
Email Contact
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