SilverSun Technologies Surges On Deal For $1 Bln Investment Led By Jacobs Private Equity

(RTTNews) - Shares of SilverSun Technologies, Inc. (SSNT), a business application, technology and consulting firm, are surging more than 200% Monday morning after the company signed a deal whereby Jacobs Private Equity II, LLC (JPE), led by Brad Jacobs, and minority co-investors, will invest $1 billion in it.

The deal will lead to spin-off of SilverSun on the record date, one day prior to the closing of the investment. The remaining company will become a platform for significant acquisitions, the company said in a statement.

The proposed equity investment includes $900 billion by JPE and $100 million by co-investors, including Sequoia Heritage.

Upon closing the deal, JPE will become the majority stockholder of SilverSun and Jacobs will become the company's chief executive officer.

SSNT, currently at $11.57, has been trading in the range of $2.67 - $10.76 in the last 1 year.