SWK Technologies announces intent to acquire VICOR Business Services
SWK Technologies, a subsidiary of SilverSun Technologies, announced in a press release that it intends to acquire VICOR Business Services.
SilverSun provides transformational business technology solutions and services and will benefit from VICOR’s specialty in financial and business management consulting. Additionally, VICOR has experience in compliance-oriented federal contracting with U.S. government agencies, specifically, the organization has helped clients in passing Federal Contracting audits with DCAA and other audit agencies.
“This potential acquisition will further strengthen SWK’s national presence and materially enhance the Company’s depth of specialized expertise in key niche sectors of the business management solutions marketplace,” SilverSun chairman and CEO Mark Meller said in a statement.
The technology acquisition was also highly touted by SWK CEO Jeffrey Roth. According to him, the opportunity will fulfill major objectives for his company, such as the geographic expansion of SWK. Roth added that he is excited to complete the due diligence portion of the M&A activity so his organization can welcome in VICOR’s staff and the entire company can move forward.
Details of the transaction were not disclosed in the press release, but the deal is expected to conclude either on or before July 31, 2013.
Finding a compatible company for a technology merger or acquisition is not always easy. Even if a business leader understands the direction that his or her business should move in, partnering with an investment banking firm can keep the process as smooth as possible. That way, all parties involved can remain up to date on the stage of an acquisition and what must be done to complete it in order for the businesses to stay profitable.