Today before the opening bell, SilverSun Technologies announced that its wholly owned subsidiary, SWK Technologies, the premier total solutions provider specializing in business software solutions, has acquired select assets of Micro-Point, Inc., a Westchester, New York-based managed service provider and reseller of Sage Software products.
In addition to being a Sage reseller, Micro-Point provides hosting and computer services that are similar to and complementary to those currently being offered by the network services division of SilverSun. The deal is anticipated to add more than $600,000 in annualized revenue and be immediately accretive to the company’s earnings. The terms of the transaction were not disclosed, but more information on Micro-Point can be found at www.micro-point.com.
Mark Meller, CEO of SilverSun, stated, “While we are pleased to acquire the Sage customers of Micro-Point, the greater value to us in this transaction is that it allows us to greatly expand our hosted service offerings — an area of our business that we are intent on building into a major profit center for our Company. The acquisition of Micro-Point gives us immediate critical mass in this area, and paves the way for us to sell a more robust portfolio of network service offerings to our existing customer base of roughly 2000 small- and mid-sized businesses in operation across the country.”
“We are constantly looking to improve and expand our product and service offerings, particularly those that provide us with recurring revenue on a monthly basis,” Meller continued. “Given our management talent, in-house expertise and financial resources, we are confident that we will be able to rapidly increase sales and earnings from the addition of Micro-Point’s software hosting services. This acquisition marks the third we have completed in 2012.”
Jeffrey D. Roth, CEO of SWK Technologies, noted, “We continue to execute on our business plan to materially enhance value for SilverSun’s shareholders by increasing sales, fueling earnings growth and acquiring companies that introduce profitable new lines of business for our Company, thus further enhancing and strengthening our collective product and service offerings. It is an incredibly exciting period of growth for SilverSun and SWK and we look forward to the future with great optimism and expectations.”
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