SilverSun Completes Acquisition of More Accounts

SilverSun Completes Acquisition of More Accounts

By: AllPennyStocks.com News

Thursday, February 21, 2013

Two decades ago most people never even heard of Information Technology as an industry. Did it exist? Yes, but the majority of people, including most retail investors, didn’t know what it meant or what companies were involved in it. On the whole, its companies providing services from software support to data processing systems to system design and back again. It’s been on the upswing for years and still performing. To that end, Bloomberg’s “Software and Services” industry index (comprised of 208 companies) has risen about 10 percent in the past three months alone. For the micro-cap investor, there are many companies involved in the Information Technology, or IP, space. The beauty of it is that it is such a robust and growing industry that there’s room for even the smallest company to establish a presence, making many worthy of further due diligence.


Wednesday, SilverSun Technologies (OTCBB:SSNT), said that it is expanding its footprint in the industry through its wholly-owned subsidiary SWK Technologies. As a business per se, SilverSun is not in the IT business, but it is focused on acquisition and build-out of technology and software companies engaged in management applications and professional consulting services to small and medium size businesses in the manufacturing, distribution and service industries. That puts it in the IT and business technology space.

The company said that it, through SWK Technologies, has secured three major Sage ERP X3 global enterprise solution sales within the last 60 days, generating new revenue of over $650,000. This bodes well for the developmental company as with any company, it’s all about revenue growing earnings per share.

The news follows a string of announcements from the Livingston, New Jersey-based company reporting on its aggressive growth model. During February, the company said that it completed the acquisition of the Sage business partner accounts of Colleyville, Texas-based SGEN, LLC (d/b/a Software Generation) and Sage’s business partner accounts of Dallas-based Point Solutions, LLC (d/b/a Fusion RMS.com). These acquisitions are meant to serve as key drivers to national expansion of the SilverSun business model.

SilverSun also said recently that its proprietary series of cloud-based business management solutions created specifically for the U.S. craft brewery and distribution industry sales have been steadily climbing. Recent sales of its Software as a Service (SaaS) Distribution Management System, BeerRun, BrewPub and BrewX ERP have expanded to 18 craft breweries throughout the country.

These developments apparently have drawn attention from the investment community as shares have moved upward from a low of 5 cents in February to a closing price on Wednesday of 15 cents. The chart has clearly had volatile movements historically, suggesting that it has a wide spread between the bid and ask, but, given the recent appreciation in value, the company could be worth a closer look. Proper due diligence is, as always, encouraged.

Copyright © 2013 AllPennyStocks.com. All rights reserved. Republication or redistribution of AllPennyStocks.com's content is expressly prohibited without the prior written consent of AllPennyStocks.com. AllPennyStocks.com shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Other Penny Stock Movers

Miner Scores with Acquisition of Promising Silver District in Mexico
Mixed Signals: Durable Goods Orders Up, But Not All Sectors Are Soaring
Biotech Steals The Show Following Pre-Clinical Data Announcement
Most Popular
FREE Newsletter


Back to Top