SilverSun Technologies, Inc, the public-traded corporate parent of VAR SWK Technologies today announced the acquisition of JC Computer Resource Corporation. According to the press release this adds over 350 Sage 100 customers to SilverSun Technologies / SWK Technologies customer base.
SilverSun’s subsidiary, SWK Technologies, is one of the largest Sage business partners in North America. The acquisition of JCS expands SWK’s geographic footprint and adds over 350 Sage 100 customers to our already substantial customer base.
Mark Meller, CEO of both SilverSun and SWK, stated, “JCS and SWK are ideal fits for each other. Our organization is excited to have the opportunity to help the JCS customers with their digital transformation as they migrate to the cloud, secure their data, work remotely, and automate their business processes. We expect the transition and integration to be quick and seamless.”
Update 11-21-2023: I noted that an 8-K was filed on November 15, 2023 regarding this deal. According to the document, the sale price was $1,325,000 which included $300,000 in cash and a $1,025,000 4.25% note payable over three years with a downward $200,000 maximum adjustment possible for loss of subscription revenue, subject to certain terms, during a one-year term following the closing date.