Brad Jacobs to Lead Equity Investment of $1B in SilverSun Technologies and Pursue Acquisitions
Portfolio Pulse from Benzinga Newsdesk
Brad Jacobs, through Jacobs Private Equity II, LLC (JPE), will invest $1 billion in SilverSun Technologies, Inc. (NASDAQ:SSNT), with JPE contributing $900 million and co-investors, including Sequoia Heritage, adding $100 million. Upon closing, JPE will be the majority stockholder, and Jacobs will become CEO and chairman. The deal includes a spin-off of SilverSun's existing business to its stockholders and a rebranding of the company as a platform for future acquisitions in a yet-to-be-announced industry.
December 04, 2023 | 12:18 pm
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SilverSun Technologies is set to receive a $1 billion investment led by Brad Jacobs and JPE, with a significant reorganization that includes Jacobs becoming CEO and chairman, and a spin-off of the current business.
The $1 billion investment and the subsequent changes in leadership and corporate structure are likely to be viewed positively by investors, as it indicates a strong vote of confidence in SilverSun's future. The involvement of Brad Jacobs, a notable figure in the investment community, could further bolster investor sentiment. However, the exact impact on the stock price will depend on the details of the spin-off and the nature of the future acquisitions.
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