EAST HANOVER, NJ, Jan. 07, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- SilverSun Technologies, Inc. (NASDAQ: SSNT) announced today that its wholly owned subsidiary, SWK Technologies, the premier total solutions provider specializing in business software applications, has acquired Partners in Technology, Inc. (“PIT”).
PIT, which was founded in 1999, is a leading reseller of Sage Software solutions, servicing over 160 customers in the Chicago area. The company’s 2018 revenue exceeded $1,000,000, and the purchase price was $234,000, including $60,000 cash and a $174,000 3-year promissory note.
Mark Meller, CEO of SilverSun, stated, “PIT and SWK are ideal fits for each other. Merilyn Van Zwieten has done a wonderful job in building a high-quality organization. The talent, skills and expertise that she brings to SWK will enable us to rapidly expand our Chicago presence, which began with our previous acquisition years ago of Hightower, Inc. With our large and established customer base, plus the energy and experience of Merilyn and her team, we plan on becoming a dominant force in the SMB marketplace in the Midwest.”
Merilyn Van Zwieten, President of PIT, stated, “Our companies have worked together for many years, and we know each other well. The customer‐focused approach and corporate culture at SWK is almost identical to ours. The skill set of their team is exceptional, and both companies share the same corporate values. We have tremendous opportunities in front of us, and the size and scale of the combined organizations will provide us with the resources to take full advantage of these opportunities. We’re better together, and clients on both sides will benefit from this transaction.”
About SilverSun Technologies, Inc.
We are a business application, technology and consulting company providing strategies and solutions to meet our clients' information, technology and business management needs. Our services and technologies enable customers to manage, protect and monetize their enterprise assets whether on-premise or in the "Cloud". As a value added reseller of business application software, we offer solutions for accounting and business management, financial reporting, Enterprise Resource Planning ("ERP"), Warehouse Management Systems, Customer Relationship Management, and Business Intelligence. Additionally, we have our own development staff building software solutions for Electronic Data Interchange, time and billing, and various ERP enhancements. Our value-added services focus on consulting and professional services, specialized programming, training, and technical support. We have a dedicated network services practice that provides managed services, hosting, business continuity, cloud, e-mail and web services. Our customers are nationwide, with concentrations in the New York/New Jersey metropolitan area, Chicago, Dallas, Arizona, Seattle, Greensboro, and Southern California.
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.