SilverSun Technologies, parent company of Sage mega-partner SWK Technologies, announces the completion of the acquisitions of Oates and Company and The Macabe Associates.
Both acquisitions were announced in late September, with Greensboro, NC based Oates & Company being announced September 21, 2015 and Seattle, WA based The Macabe Associates on September 24, 2015. According to the press releases Oates & Company is expected to add $2.4 million in revenues and The Macabe Associates is expected to add roughly $1 million for an estimated total of $3.5 million according to the release.
SWK Technologies was listed as number 25 on the Bob Scott VAR 100 with $22 million in revenues. With these acquisitions and the July 2015 acquisition of Productive Technologies the company expects to raise revenues to $27 million which would place them squarely in the top 20 of North American VARS.
It’s likely SWK Technologies should be ranked higher on the VAR 100 listing since most competitors self-report revenues while SWK Technologies, as a subsidiary of a public company, provides presumably more accurate audited financial reports.
SilverSun Technologies stated in a June 9, 2014 letter to shareholders that they expected to hit $50 million in revenues within the next 18 months, though that number appears to have been revised downward to $27 million according to the last earnings release which projected those year 2015 earnings.