XPO Executive Chairman Brad Jacobs has recently finalized a groundbreaking $1 billion investment deal with SilverSun Technologies. In this unparalleled agreement, Jacobs is set to acquire the company and spin off its primary business.
The esteemed technology and consulting firm announced on Monday that it has successfully reached an arrangement with Jacobs’ private-equity firm. Under this deal, the firm will invest a staggering $900 million, while other co-investors, including Sequoia Heritage, will contribute an additional $100 million.
Upon the completion of this significant investment, Jacobs will emerge as the majority shareholder of SilverSun and assume the roles of both Chief Executive Officer and Chairman. Additionally, the agreement also mandates a spin-off of the present business to existing SilverSun shareholders.
The remaining part of the company will function as an independent platform, operating under a new name. This platform will put its focus on acquiring companies within an undisclosed industry that Jacobs is keenly interested in.
Expressing his enthusiasm about this novel endeavor, Jacobs stated, “I am thrilled to embark on the journey of building yet another multibillion-dollar company from the ground up. In the near future, I will unveil further details about my new venture, industry, and the strategic vision we plan to execute.”
