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SILVERSUN BUYS ONE BIZ; SELLS ONE Featured

SilverSun Technologies, parent of SWK Technologies, has sold one software practice and acquired another. Last week, SilverSun signed a deal to sell its Sage X-3 business to New York, N.Y.-based VAR Net at Work. This week, it agreed to buy the Acumatica division of Dynamic Tech Services of Atlanta, Ga.

Mark Meller, CEO of SilverSun and SWK, said the deal will increase its Acumatica customer base will increase by roughly 30 percent. Net at Work is paying $250,000 in cash and entering a revenue-sharing agreement. The term ranges from 12 to 60 months and is pegged to gross revenues or gross profits generated by Net at Work from sales of products or services. Terms were not disclosed. Both SWK and Net at Work carry Sage products and Acumatica. SilverSun says SWK is one of the largest Acumatica resellers and noted it was Acumatica’s Partner of the Year for 2018 and 2019 Distribution Partner of the Year in 2020. Joel Gress and his team from Dynamic Tech are joining SWK. The deal is expected to grow by year end. 

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