EAST HANOVER, NJ --(May 21, 2018) - SilverSun Technologies, Inc. (NASDAQ: SSNT) announced today that its wholly owned subsidiary, SWK Technologies, the premier total solutions provider specializing in business software solutions, has acquired Information Systems Management, Inc. (“ISM”).
ISM, a leading Portland, Oregon-based reseller of Sage Software and Acumatica solutions whose 2017 revenue exceeded $4.5 million, also provides hosting services for business applications to customers throughout the United States. The purchase price for ISM and its affiliate is $1.7 million, including $300,000 cash and a $1.4 million convertible note. The deal will be effective June 1, 2018.
Founded in 2001, ISM has installed solutions at prominent companies both nationally and on the West Coast. ISM currently has offices in Portland, San Diego, Phoenix and Washington, D.C..
Mark Meller, CEO of SilverSun, stated, “ISM and SWK are ideal fits for each other. BJ O’Reilly has done a spectacular job in building and growing a profitable, high-quality organization. The talent, skills and expertise that he and his partner, Carla Brown, bring to our organization, the technical infrastructure and ability to host an array of business applications for our customers, and the geographic differentiation make ISM an excellent acquisition for SWK on many levels.”
“As the new Chief Technology Officer (CTO) of SWK, BJ will bring expertise and experience to our organization which will enable us to continue and even accelerate our exciting growth strategies. Carla Brown, who has exceptional relationships with ISV’s and business partners throughout our ecosystem, will serve as Vice President of Partners and Alliances. “
“As a result of the acquisition, we will now own the infrastructure which will allow us to directly host our client’s business applications, including Sage 100cloud and Acumatica. This represents a new line of business for the Company, one which we can rapidly scale as a result of our publisher and partner relationships, and as a result of our Partner Success Program.”
BJ O’Reilly, President at ISM, 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.
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, and AMP-BEST Consulting, 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
ISM began as a small business with one vision in mind: “Simple answers to difficult questions.” Their goal was to convert complex technology into tangible business value so their clients get more work accomplished using fewer resources. Keeping that same vision in mind, today ISM has grown to become one of the top Sage resellers and business technology providers in the country.
Their diverse professional staff is uniquely qualified to support all major areas of business technology including Customer Relationship Management (CRM), Accounting and operations (ERP), and Human Resource Management and Payroll (HRMS). They also implement the most widely‐used business and accounting software applications on the market including Sage ERP Accpac, Sage ERP MAS 90, Sage ERP MAS 500, SageCRM, Sage CRM SalesLogix, ACT! by Sage, and Sage FAS Fixed Assets.
Go to www.goism.com to learn more about ISM.
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.