SilverSun Technologies, Inc.: directors' dealings · United States · SEC (Form 4)

About SilverSun Technologies, Inc.

SilverSun Technologies, Inc. (NASDAQ: SSNT) is a U.S.-based technology and software services company headquartered in East Hanover, New Jersey, United States. The company is listed on the NASDAQ market and has historically operated as a value-added reseller and implementation partner for business application software, with a focus on ERP, HCM, CRM, warehouse management, business intelligence, accounting, and business management tools. Its operating model combines software licensing and resale with higher-touch consulting, implementation, support, hosting, and related technology services. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1236275/000118518524000237/silversun20231231_10k.htm)) SilverSun’s corporate history reflects a long evolution and repositioning over time, including earlier name changes before adopting the SilverSun Technologies name in 2011. Rather than relying on a single proprietary software product, the company has built its footprint through a combination of organic development and acquisitions of regional practices and software resellers. Over time, this roll-up strategy expanded the company’s installed base, broadened its customer relationships, and strengthened its geographic coverage across the United States, including the Midwest, West Coast, Northeast, and other regions where it has acquired customers and technical capabilities. In its 2023 annual report, SilverSun described an active ERP customer base of approximately 8,000 accounts across its core solutions. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1236275/000118518524000237/silversun20231231_10k.htm)) From a competitive standpoint, SilverSun operates in a fragmented services-and-software niche where differentiation depends on implementation expertise, customer retention, domain knowledge, and the ability to guide clients through digital modernization. Its key solution set is tied to Sage products such as Sage 100, Sage 500, Sage BusinessWorks, and Sage X3, as well as Acumatica cloud ERP and QuickBooks-related services. The company also indicated internal development work on ERP enhancements and related software tools, which supports a broader service offering around recurring support and customization. This mix gives SilverSun exposure to recurring maintenance revenue while still tying performance to project activity and customer technology refresh cycles. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1236275/000118518524000237/silversun20231231_10k.htm)) Recent company developments have been material. For fiscal 2023, SilverSun reported revenue of $54.5 million, improved gross profit, and higher adjusted EBITDA, although it also recorded a net loss and a meaningful expense tied to the terminated Rhodium Enterprises merger agreement. In October 2023, the company terminated that merger transaction. More importantly, in December 2023 SilverSun announced a major investment agreement with Jacobs Private Equity II, which was designed to bring in substantial capital and set the stage for a strategic transformation. The company stated that, following the closing of that transaction, it intended to pursue a new strategy centered on becoming a tech-forward leader in the building products distribution industry. For investors tracking insider activity and SEC Form 4 filings, SSNT is therefore not only a software services name but also a corporate transition story on the NASDAQ in the United States. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1236275/000118518524000237/silversun20231231_10k.htm))