SilverSun Technologies Acquires Info Sys Management

SilverSun Technologies Inc (NASDAQ:SSNT) announced that its wholly owned subsidiary SWK Technologies has acquired Info Sys Management Inc.

SWK Technologies is a total solutions provider that specializes in business software solutions. SilverSun Technologies is involved in the acquisition and build out of technology and software companies.

As quoted in the press release:

The company (Info Sys Management), a leading Portland, Oregon-based reseller of Sage Software and Acumatica solutions, 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 clients’ 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 Sage Partner Success Program (“PSP”).”

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.”

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