SWK Technologies To Acquire PeopleSense's HCM Division For Undisclosed Sum

Business software applications and managed IT services provider SilverSun Technologies Inc SSNT subsidiary, SWK Technologies, Inc, has signed a letter of intent to acquire the human capital management (HCM) division of PeopleSense, Inc, a reseller of Sage Software's human resource management solutions.
PeopleSense has implemented HCM solutions to clientele across over half of the U.S., Canada, Puerto Rico, and the U.S. Virgin Islands.
The financial terms of the transaction were not disclosed.
The pandemic induced remote work further elevated the importance for HCM to track, connect, communicate and support employees, conduct workforce planning, and reorganize employees.
SWK Technologies recently acquired Sage Software solutions reseller CT-Solution, Inc for an undisclosed sum.
SilverSun held cash and cash equivalents of $6.6 million as of Dec. 31, 2020.
Price action: SSNT shares traded higher by 0.36% at $6.55 on the last check Tuesday.