SilverSun Technologies, Inc. (NASDAQ:SSNT) risen by 12% in early trades today following announcement of an acquisition deal to buy a leading Indianapolis-based reseller of Sage Software solutions. Shares price of national provider of transformational business software applications and managed IT services was buoying at $8.12 with a gain of 12.00% as of 10:09 a.m. EST.
What really is happening?
SSNT is a business application, technology, and consulting firm that offer applications and IT solutions to satisfy the content, technology, and business management requirements of its customers. Its services and technology allow clients, whether on site or in the “cloud,” to monitor, secure and monetize their business assets.
Being a value-added reseller, SilverSun provides business technology software tools for financial analysis, warehouse management systems (“WMS”), business intelligence (“BI”), accounting and market administration, enterprise resource planning (“ERP”), customer relationship management (“CRM”) and other business applications.
The SilverSun press release today details the signing of the letter of intent between its wholly-owned subsidiary SWK Technologies, Inc. to acquire Sage Software solutions seller CT-Solution, Inc.
- CT-Solution has implemented technology solutions in numerous manufacturers, distributors, and professional services organizations in the Midwest over the last 20 years.
- In the North American market, SilverSun’s subsidiary, SWK Technologies, is among the largest Sage business partners.
- SwK’s acquisition of CT broadens SWK’s geographic coverage and expands its already substantial customer base.
- The transaction is expected to close in the second quarter of 2021 and is subject to signing of definitive agreements and other customary closing conditions.