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M&A DRIVES SILVERSUN YEAR Featured

Mark Meller, SilverSun TechnologiesAcquisitions completed in 2015 played a major role in financial results for SilverSun Technologies for the year ended December 31. SilverSun, parent of reseller SWK Technologies, reported 2016 revenue of $34.1 million, an increase of 23.4 percent from $27.6 million in 2015.

The company, headed by CEO Mark Meller, said four 2015 acquisitions contribution $7.1 million in revenue to the most recently ended year's results. Net income shot up to $3.4 million from $374,305 in 2015. Explanations about the growth in revenue were not detailed. The company said it had increases in revenue from its software packages: Sage ERP X3, NetSuite and Acumatica, Accellos Warehouse Management. SilverSun also reported sales of its proprietary and cloud-based applications increased but did not spell that out further. Product revenue for 2016 was $4.7 million, up 11. 2 percent from $4.2 million the prior year. The biggest chunk of operations, services, saw a significant increase, rising to $29.4 million, increasing 25.7 percent from $23.4 million year-to-year.

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