SWK Technologies has sold its Mapadoc EDI division to SPS Commerce for $11.5 million cash. Mapadoc was introduced in the 1990s as an EDI system which did not require custom programming

It works with Sage 100, 500, X3 and Acumatica.  SPS said the addition will have a nominal impact on its 2019 financial results but will add about $2 million in revenue and $1 million in adjusted EBITD in 2020. SPS had $248.2 million revenue for the year ended December 31. Mark Meller, CEO of SWK’s parent, SilverSun Technologies, said the sale said his company hired The Benchmark Company, which advised SilverSun on the transaction, to help identify acquisition candidates in the area of software publishing and IT services. He noted SilverSun intends to continue growing in-house initiatives such as its subsidiary, Secure Cloud Services, which provides application hosting and infrastructure as a service. That unit has tripled in size in the past 12 months, although Meller did not provide statistics. He said the Partner Success Program, an implementation of  Sage Software’s Partner Advocate Program has helped SWK add more than 2,500 customers in the last 18 months


Last modified on Wednesday, 28 August 2019
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