Benzinga | Feb 25, 2021 10:15AM EST

SWK Technologies To Acquire Sage Software Solutions Reseller CT-Solution

* IT and consulting company SilverSun Technologies Inc (NASDAQ: SSNT) subsidiary, SWK Technologies, Inc., has signed a letter of intent to acquire Sage Software solutions reseller CT-Solution, Inc. The financial terms of the acquisition were not disclosed.

* CT-Solution has executed technology applications at prominent manufacturers, distributors, and professional service organizations.

* The acquisition is aimed towards the expansion of SWK's geographic footprint and increases its customer base. The transaction is estimated to close in the second quarter of 2021.

* "CT and SWK have worked closely with each other for several years, and are ideal fits for each other. Our organization has been actively engaged with the CT customers for some time, and we are excited to now have the opportunity to help them with their digital transformation as they migrate to the cloud, secure their data, work remotely, and automate their business processes. We expect the transition and integration to be quick and seamless," said SilverSun CEO Mark Meller.

* Price action: SSNT shares were up 8.97% at $7.*0 on the last check Thursday.