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SWK EXECS GET SHARES IN PARENT

Jeff Roth, SWK TechnologiesExecutives of Sage reseller SWK Technologies have exchanged shares in their organization for shares in the company’s parent SilverSun Technologies. “The restructuring of SilverSun in 2011 positioned the company as a growth vehicle and made it an attractive investment opportunity,” according to SWK CEO Jeff Roth.
Roth says the investment in SWK was an illiquid minority position and this move gives him and his team a more liquid investment. Technically, 25 shares of Livingston, N.J.-based SWK were exchanged for 22,664,678 shares of common stock of SilverSun. Besides Roth, the SWKers involved in the deal were Gary Berman, one of the founders of SWK, Paul Frydman and Andrew Nunez. The latter two were involved in the sale of Sage’s X3 when SWK hired them away from another Sage reseller, Nextec, in 2010. That brought on litigation between the former employer and the two men, which led to a settlement with payments to Nextec. SWK hired Nunez as COO and EVP of sales and Frydman as EVP of consulting to help SWK beef up its own X3 practice.
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