The transaction is expected to be accretive to Livingston-based TreyÂs earnings.SWK Technologies, a wholly owned subsidiary of Trey Resources (Nasdaq OTC: TYRIA), has closed its acquisition of Wolen Katz Associates of Manalapan for an undisclosed sum. The acquisition is expected to add more than $260,000 in annualized revenue to Trey”s earnings.
SWK specializes in accounting software and supply-side software solutions, while Wolen Katz resells Sage Software”s Abra Human Resources Management Solution aimed at mid-sized businesses. Wolen Katz, founded in 1988, has installed Abra systems at more than 300 companies.
Jeffrey D. Roth, CEO of SWK, noted that the deal expands his companyÂs product offerings, adding, ÂSince we now have over 450 clients, each of whom requires some type of HR tool, we have a built-in customer base to whom we can rapidly sell the ABRA software.Â
Trey Resources, headquartered in Livingston, acquires and builds out technology and software companies. Its stock gained $0.0005 to $0.0095 in late morning trading.