A similar letter from SilverSun CEO Mark Meller to company shareholders did not give an indication of where executives think growth may come from. Roth's letter promised "SWK will continue to operate as it currently does with a focus on our customers in matters of development, supply-chain, cloud ERP applications, Sage ERPs, process and discrete manufacturing and distribution." The most recent purchase of a Sage VAR was that of ESC Software for $350,000. That Arizona-based company had annual revenue of $1.7 million. A fast-growing segment is the company's own applications, including Mapadoc, an EDI application. Meller wrote that its business had doubled in the last four years and noted the product has been introduced into the Australian market. The company's managed service division had 45-percent growth in 2013. You'd have to think that the steepest growth will continue to come in these other areas.
SWK PARENT TARGETS $50 MILLION Featured
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SilverSun Technologies, parent of Sage reseller SWK Technologies, says it plans to grow from nearly $18 million in annual revenue to $50 million over the next 18 months. A letter from Jeff Roth, CEO of Livingston, N.J.-based SWK says his company no longer believes growth will come from the purchase of other Sage resellers. "At this time, SilverSun doesn't envision its growth coming from Sage partner acquisitions and is focused on potential transactions outside of the channel," Roth wrote.
