SWK Technologies acquires JCS Computer Resource for $1.325M; adds 350+ Sage 100 customers

QXO, Inc.

Purchase price $1.325M: $300K cash + $1.025M 3-year promissory note at 4.25% interest.
Note subject to downward adjustment up to $200K if SWK loses JCS customer subscription revenue within one year.
Acquisition adds over 350 Sage 100 customers and expands SWK's Midwest geographic footprint.
One-year consulting agreement with JCS president Jennifer O'Brien for $35,000 annual base salary.
CEO Mark Meller expects quick, seamless transition; both companies have worked together previously.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

QXO, Inc. entered into Asset Purchase Agreement with JCS Computer Resource Corporation valued at $1,325,000 (effective 2023-11-13).

Action: entry
Agreement: asset purchase
Counterparty: JCS Computer Resource Corporation
Value: $1,325,000
Effective: 2023-11-13

Exact text from the filing

On November 13 , 2023 (the “Effective Date”), SWK Technologies, Inc. (“SWK”), a wholly-owned subsidiary of SilverSun Technologies, Inc., entered into an Asset Purchase Agreement (the “Asset Purchase Agreement”) with JCS Computer Resource Corporation, an Illinois corporation (“JCS”)

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QXO, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-087598

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