SilverSun Technologies Completes Acquisitions of Oates & Co. and The Macabe Associates

On Oct 20, 2015

SilverSun Technologies, Inc. announced today that its wholly owned subsidiary, SWK Technologies, Inc., a national provider of transformational business technology solutions and services, closed on the acquisitions of Oates & Co., LLC,  a leading North Carolina-based reseller of Sage and Acumatica applications, and The Macabe Associates, Inc., a leading Seattle-based developer and reseller of Sage and Acumatica applications.

The two acquisitions are expected to add roughly $3.5 million in incremental revenue to the company in 2016.

The company also announced that it has sold the intellectual property and associated assets for its BeerRun application to an unaffiliated third party.

Mark Meller, CEO of SilverSun, stated, “We are happy to announce the closing of these two acquisitions.  The new geography, the new people and their skill sets, and the intellectual property we have acquired in these transactions will provide us with the additional resources we require to maintain our aggressive growth plans for 2016 and beyond.  We have now completed four acquisitions this year, and anticipate that we will be operating at a run rate in excess of $30 million by the end of 2015.  We are excited about the opportunities available to us in the coming year.”

Jeffrey D. Roth, Chief Executive Officer of SWK Technologies, commented, “As we grow, we continue to evaluate the products and services we offer, making certain that they are properly aligned with our strategic focus.  Following that analysis, we determined that BeerRun  was no longer a core product offering for the Company, and we therefore divested the solution.  Our evaluation process is ongoing, and there may be other such transactions in the future.  In addition, we continue to develop new intellectual property, and look forward to bringing some exciting new products to the marketplace in the coming months.”

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