M&A Deal Summary

A.V.M. Software Acquires Newtek Technology Solutions

On August 12, 2024, A.V.M. Software acquired information technology company Newtek Technology Solutions from NewtekOne for 4M USD

Acquisition Highlights
  • This is A.V.M. Software’s 1st transaction in the Information Technology sector.
  • This is A.V.M. Software’s largest (disclosed) transaction.
  • This is A.V.M. Software’s 1st transaction in the United States.
  • This is A.V.M. Software’s 1st transaction in New York.

M&A Deal Summary
Date 2024-08-12
Target Newtek Technology Solutions
Sector Information Technology
Buyer(s) A.V.M. Software
Sellers(s) NewtekOne
Deal Type Divestiture
Deal Value 4M USD

Target

Newtek Technology Solutions

New Hyde Park, New York, United States
Newtek Technology Solutions provides dedicated server hosting, cloud hosting, data storage, managed security, backup and disaster recovery, and other related services including consulting and implementing technology solutions for enterprise and commercial clients. Newtek Technology Solutions is based in New Hyde Park, New York.

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Buyer(S) 1

Buyer

A.V.M. Software

Jericho, New York, United States
Category Company
Founded 1998
Sector Internet Software and Services
DESCRIPTION

Paltalk is a provider of real-time, rich media, interactive social networking applications with more than 200 million registered users around the world. Paltalk is available on PC, Mac, iOS, Android and tablet devices. The Paltalk portfolio of products powers one of the world's largest collection of video-based communities, with thousands of live group conversations on topics such as Politics, Financial Markets, Music and Dating. Paltalk through a long history of technical innovation owns a portfolio of 25 patents. The Paltalk patents protect the company's proprietary technology platform that enables server group messaging for interactive applications on the internet. The technology has many applications, including online multiplayer video games and video conferencing. Paltalk was founded in 1998 and is based in New York City.

DEAL STATS #
Overall 1 of 1
Sector (Information Technology) 1 of 1
Type (Divestiture) 1 of 1
State (New York) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

NewtekOne

Boca Raton, Florida, United States
Category Company
Founded 1998
Sector Business Services
Employees559
Revenue 105M USD (2022)
DESCRIPTION

Newtek Business Services is a provider of a wide range of business services and financial products under the Newtek brand to the small- and medium-sized business ("SMB") market. Newtek Business Services was founded in 1998 and is based in Boca Raton, Florida.

DEAL STATS #
Overall 1 of 1
Sector (Information Technology) 1 of 1
Type (Divestiture) 1 of 1
State (New York) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-02 National Bank of New York City

New York, New York, United States

National Bank Of New York City is a banking company that provides financial services to clients. National Bank of New York City was formed in 1963 and is based in New York, New York.

Buy $264M
Mergr

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