News today that Sage uber partner SWK Inc (aka Silversun Technologies) intends to acquire VICOR Business Systems) for an undisclosed amount. The move is subject to the usual due diligence (remember that not all Silversun announcements have survived due diligence).
VICOR states $1.2 million in annual sales. They’re also a Sage, Info and Dynacom partner and offer some custom enhancements for the governmental market.
Until I know more I’m marking this down as a diversification move for Silversun/SWK.
Jeffrey D. Roth, Chief Executive Officer of SWK, added, “The acquisition of VICOR will help to fulfill three key growth objectives for our Company: geographic expansion of SWK into the nation’s capital region; expansion of our proprietary product and service offerings; and the addition of highly specialized consultative expertise and experience in ensuring compliance with complex procurement rules and regulations for those clients conducting business with the Federal government. We look forward to quickly advancing our due diligence process so that we can conclude the transaction and welcome VICOR’s top notch people to SWK’s team of professionals.”
Subject to further due diligence and certain closing conditions, a definitive agreement is expected to be signed and the transaction completed on or before July 31, 2013. Detailed terms and conditions of the proposed transaction were not disclosed.