SilverSun Technologies Inc SSNT shares are trading higher by 134.6% to $8.62 Monday morning after the company announced Jacobs Private Equity II will invest $1 billion ($900 million from JPE, $100 million from co-investors) in SilverSun.
Jacobs will become CEO and majority stockholder, planning to spin off the existing business and create a new platform for undisclosed industry acquisitions, alongside a rebranding effort.
SilverSun says Jacobs, known for building multibillion-dollar companies through M&A and technology, aims to replicate this success in this new venture.
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According to data from Benzinga Pro, SSNT has a 52-week high of $7.14 and a 52-week low of $2.67.
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