SilverSun Technologies Completes Acquisition of ESC Software
May 07 2014 - 9:05AM
Marketwired
SilverSun Technologies Completes Acquisition of ESC Software
Arizona Firm's 2013 Revenue Exceeded $1.7 Million
LIVINGSTON, NJ--(Marketwired - May 7, 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, closed on the acquisition of ESC Software, a leading
Arizona-based reseller of Sage Software and Acumatica applications.
Founded in 1989, ESC has implemented technology solutions at
prominent companies throughout the Southwest.
The deal will add more than $1,700,000 in annual revenue and
will be immediately accretive to SilverSun's earnings. The
acquisition, which cost $350,000, will be paid out over a five year
term.
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 ESC Software and its founder, Alan
Hardy, 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
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."
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 is 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 market 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 managed 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.
Contact SilverSun Technologies Mark Meller CEO (973) 758-6108 Email
Contact
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