If you're new to holistic healing, acupuncture may seem intimidating. You might be wondering how needles pressed into your skin could possibly make you feel better. Wouldn't someone pushing a needle into your back be painful? As it turns out, acupuncture is far from painful and is quickly becoming one of the most sought-after treatments for chronic pain and for regulating issues relating to:
In fact, acupuncture has been studied and practiced for over 2,500 years and, more recently, has been researched and supported by many scientific studies. While acupuncture may not be a "miracle" treatment for every type of pain or condition, it has been shown to be effective in treating a wide range of issues, from depression and allergies to morning sickness and cramps.
Acupuncture is a therapy in traditional Chinese medicine (TCM) that aims to balance the body's energy, called qi, which flows through pathways called meridians. This balance is crucial for overall wellness, as disruptions to qi can lead to health concerns. According to TCM, inserting small stainless-steel needles into specific points called acupoints along the meridians can help rebalance the flow of qi and restore overall health.
These acupoints are believed to release certain chemicals when stimulated, which can trigger an immune response and promote physiological homeostasis. Recent research suggests that this therapy may help alleviate symptoms of various health ailments.
In fact, the National Institute of Health conducted a survey on complementary health approaches, revealing that acupuncture usage in the United States has increased by 50 percent between 2002 and 2012. As of 2012, 6.4 percent of American adults have reported using acupuncture as a form of treatment.
One of the most common questions from new patients interested in acupuncture typically revolves around whether it really works or whether it's all "new age" malarky. We get it - for most folks, the thought of inserting stainless-steel needles into one's back, arms, or neck sounds loony. However, with the ever-increasing popularity of acupuncture in New Jersey and other locations, numerous studies centering on acupuncture's effectiveness have taken place.
Extensive research has been conducted on the effectiveness of acupuncture for various conditions. A February 2022 analysis published in the BMJ, which evaluated over 2,000 scientific reviews of acupuncture therapies, revealed that acupuncture's efficacy is strongest for:
Additionally, according to the National Institutes of Health (NIH), acupuncture is most effective for pain relief in cases of chronic conditions such as osteoarthritis, lower back pain, and tension headaches. Additionally, a review of 11 clinical trials found that acupuncture may also alleviate symptoms associated with cancer treatment, as noted by the NIH.
When meeting with your acupuncturist for the first time, they will discuss your condition with you before conducting a physical examination to identify areas of your body that might respond to acupuncture. The needles used in acupuncture are incredibly thin, sterile, and disposable, with your acupuncturist inserting them at different depths ranging from a fraction of an inch to several inches.
Acupuncture needles are less painful than medical needles used for vaccines or blood draws. This is because acupuncture needles are thinner and solid, not hollow. During the treatment, you may experience some muscle sensations like dull aches or tingling.
Your practitioner will ask you to report any deep heaviness or numbness, which are positive signs that the treatment is working. Depending on the condition you're treating and the supplemental treatments you're undergoing, like physical therapy, acupuncture needles will remain in place for several minutes or up to 30 minutes.
Once your first acupuncture treatment is finished, it's normal to feel extra relaxed and calm. For that reason, some patients like to arrange for a ride home after their first or second session. With that said, you shouldn't experience much pain at all, and it's quite possible for you to return to work after acupuncture.
This is another common question that we get at New Jersey Sports Spine & Wellness. The simple answer is, "It depends." While we understand that that's not a satisfying answer for some, it's important to understand that every patient is different. Everyone has different bodies and, by proxy, different bodily conditions and issues that need to be addressed.
During your initial consultation at our office, your licensed acupuncturist will go over your needs and goals as it relates to acupuncture therapy. Once your therapist has a good sense of the scope of your needs, they can give you a loose idea of how many sessions you'll need.
Generally speaking, most patients have appointments once a week. Others may require more or less frequent sessions. It's important to note that the full benefits of acupuncture may not be immediately evident after the first or even the second session. It's common for normal patients to undergo up to five treatments to realize the full benefits of acupuncture.
There's no question that acupuncture is more popular than ever as a non-invasive, non-addictive way to reclaim balance and well-being. But what types of conditions can this traditional therapy help alleviate in the modern world? Advances in acupuncture techniques and applications have resulted in some very promising benefits.
Did you know that regular acupuncture treatments can help reduce the pain associated with osteoarthritis? In May 2017, a meta-analysis was published, which studied approximately 18,000 patients with chronic pain, such as low back, neck, and shoulder pain, knee OA, and headache or migraine. The analysis found that the benefits of acupuncture therapy in reducing pain lasted for more than 12 months.
That's wonderful news for athletes and other people who push their bodies daily to accomplish goals or bring home money for rent and bills. In fact, many medical experts consider acupuncture as a viable option for managing chronic pain in conjunction with traditional methods like physical therapy and chiropractic care. The idea behind this approach is that acupuncture may trigger the body's natural healing response to alleviate pain.
When a licensed acupuncturist in New Jersey inserts an acupuncture needle, it penetrates your fascia, a connective tissue that wraps around your organs and muscles. Like a slight tickle on your arm, your body realizes that something is happening and responds by delivering lymph fluid, blood, and other important nutrients to speed up healing in affected areas like your knees, back, neck, joints, and more.
If you're like other people who suffer from migraines, you know that once one of them hits, it can be next to impossible to function properly throughout the day. Fortunately, acupuncture in Wayside, NJ may be a viable solution if you have to endure migraines often.
A study conducted in 2009 by the Center for Complementary Medicine at the University of Munich analyzed 11 studies involving 2,137 patients who received acupuncture treatment for chronic tension-type headaches. The researchers concluded that acupuncture could be an effective non-pharmacological solution for frequent headaches.
The study compared the effects of acupuncture sessions with sham acupuncture and no treatment at all. Both groups that received acupuncture treatment, whether needles were placed randomly or strategically, reported a reduction in headache symptoms, while the control group reported no change. The group that received real acupuncture treatment also reported a decrease in the number of headache days and intensity of pain in a follow-up survey.
For individuals who struggle with insomnia and other sleep disturbances, acupuncture is a promising therapy. Although sedatives are commonly prescribed for insomnia, long-term use can lead to negative side effects such as dependence and excessive drowsiness.
A study conducted on 72 participants and published in Sleep Medicine in 2017 found that individuals who received acupuncture three times a week for four weeks experienced significant improvements in sleep quality and anxiety compared to those who received sham acupuncture.
Similarly, a review of 30 randomized, controlled trials found that acupuncture was more effective in improving sleep quality and daytime functioning than sham acupuncture.
While many patients choose acupuncture as a way to avoid surgery altogether, those who need surgery also use it for improved recovery. Because, at the end of the day, recovering from surgery is no easy feat. Patients may experience various symptoms such as nausea, vomiting, pain around the incision, restlessness, sleep troubles, constipation, and sore throat.
According to Johns Hopkins Medicine, healthcare providers may use acupuncture as a way to alleviate some of these symptoms and help with healing. A study published in Integrative Cancer Therapies in January 2017 involving 172 participants found that patients who received acupuncture after surgery reported significant improvements in sleep, anxiety, pain, fatigue, nausea, and drowsiness.
Did you know that supplementing physical therapy with acupuncture and vice versa can have profoundly beneficial effects for patients in New Jersey and across the country? If you're like most, chances are you didn't.
The truth is that acupuncture and physical therapy have both been proven effective in reducing pain and inflammation. While many people view them as separate methods, combining the two modalities can produce a synergistic effect that enhances pain relief and delivers long-lasting benefits to patients.
Physical therapists work with patients of all ages and abilities, from children to elderly adults, to help them overcome physical limitations and improve their quality of life. At NJ Sports Spine & Wellness, our physical therapists help treat a wide range of conditions, from neck pain and spinal cord injuries to back pain and arthritis.
To effectively reduce pain and treat tissue injury, a combination of acupuncture and physical therapy can be very helpful. Acupuncture helps to reduce inflammation and release muscle tightness and trigger points, allowing the patient to better receive manual therapy or exercise-based physical therapy techniques. In doing so, acupuncture can actually create a window of time that allows your body to respond better to other treatments at New Jersey Sports Spine & Wellness, such as physical therapy and chiropractic care.
There are many benefits of combining physical therapy with acupuncture in Wayside, NJ, including the following:
You may be wondering, "Are there any studies showing these benefits?" As it turns out, there are many. One such study, published on the NIH's website, was conducted on patients suffering from frozen shoulder.
Patients who received acupuncture experienced a significant reduction in pain, while those who underwent physical therapy saw an improvement in range of motion. However, the best outcome was observed in patients who received a combination of both treatments, with reduced pain, increased their range of motion, and improved quality of life. This study highlights the potential benefits of using acupuncture and physical therapy as complementary treatments for frozen shoulder.
It makes sense, then, that people from all walks of life are combining acupuncture with chiropractic treatments at New Jersey Sports Spine & Wellness, including:
At New Jersey Sports Spine & Wellness, our doctors, practitioners, occupational therapists, and physical therapist specialize in a range of therapies and treatments. Much like physical therapy and acupuncture, combining chiropractic care with acupuncture therapy gives patients a new way to reclaim their mobility, reduce chronic pain, and maintain a healthy quality of life.
Chiropractic care and acupuncture in Wayside, NJ are natural healing practices that don't rely on drugs to improve the body's health. They focus on correcting imbalances in the body's structural and supportive systems, promoting natural healing, and ultimately leading to better health. These practices have a proven track record of helping patients improve their quality of life and overcome physical difficulties.
Integrating chiropractic and acupuncture as a dual-modality treatment offers the most efficient solution for removing blockages from the body, promoting balance, and accelerating healing. Rather than using these treatments sequentially, a combined approach allows for maximum benefits at one time.
Chiropractic targets subluxations in the nervous system through manual adjustments, facilitating the central nervous system to promote healing, while acupuncture removes blockages that may hinder the body's internal balance. Together, these treatments work synergistically to optimize energy flow and restore harmony in the body.
When our physical well-being becomes imbalanced, and our innate healing mechanisms are compromised, illnesses can manifest. The integration of acupuncture and chiropractic practices can effectively address a wide range of health conditions that they individually target, such as:
Curious if combining chiropractic care or physical therapy with acupuncture is right for your body? The best way to find out is to make an appointment at our sports rehab clinic in New Jersey. Once our team of medical professionals has a chance to evaluate your conditions, we can explore the best options to provide the most relief in the shortest amount of time possible.
New Jersey Sports Spine & Wellness consists of a team of athletic trainers, chiropractors, occupational therapists, physical therapists, and other professionals. We're very proud and passionate about caring for our patients, many of whom are suffering from debilitating conditions like back and neck pain, plantar fasciitis, sports-related injuries, and more. If you're trying to get on the road to pain relief and recovery, acupuncture may be the non-surgical solution you need to reclaim your life. Contact our office today to learn whether this exciting treatment is right for you.732-526-2497
New Jersey Realtors® Names 2022 Leadership TeamAtlantic City, N.J. (Dec. 13, 2021) — Last week, New Jersey Realtors, the statewide trade association serving more than 63,000 members, named Robert White, of Wayside, 2022 President during the Triple Play Realtor Convention & Trade Expo President’s Installation and Gala.The association also installed the additiponal members of its 2022 Leadership Team, including Nick Manis as President-Elect; Gloria Monks as First Vice President; Gloria Sicilia...
New Jersey Realtors® Names 2022 Leadership Team
Atlantic City, N.J. (Dec. 13, 2021) — Last week, New Jersey Realtors, the statewide trade association serving more than 63,000 members, named Robert White, of Wayside, 2022 President during the Triple Play Realtor Convention & Trade Expo President’s Installation and Gala.
The association also installed the additiponal members of its 2022 Leadership Team, including Nick Manis as President-Elect; Gloria Monks as First Vice President; Gloria Siciliano as Treasurer; and Jeff Jones as Immediate Past President.
“Representing our association has never been a one-man or a one-woman job and I am proud to be working with a great Leadership Team this year,” said 2022 New Jersey Realtors President Robert White. “There’s no doubt the year ahead will be a challenging one, but I look forward to moving the association forward and continuing to protect homeownership and private property rights in New Jersey.”
White is a lifelong resident of Monmouth County, became a Realtor® in 2001 and earned his broker’s license in 2005. He is currently the Branch Vice President-Managing Broker of Coldwell Banker Realty in Spring Lake.
Since 2008, he has been an active director of the board for the National Association of Realtors®(NAR). Currently, he serves on the Broker Engagement Council and is a representative on the Top 75 Large Firm Directors. He is also a Realtors® Political Action Committee (RPAC) Golden “R” and, in 2016, Robert was inducted into the NAR RPAC Hall of Fame.
He has served on the NJ Realtors® Board of Directors since 2008. He was New Jersey Realtors® First Vice President in 2020, Association Operations Division Officer in 2019, Professional Development Division Officer in 2018, and has chaired and served on numerous committees.
On the local level, Robert has been an active member of the Monmouth Ocean Regional Realtors® since 2002, been a member of the Executive Committee since 2008, and served as President in 2014 and 2015. He has also chaired many committees such as Associates, Budget and Finance, Grievance, MLS, Legislative & Political Affairs, and RPAC. In 2005 and 2015 White was named MORR Realtor®
of the Year.
Over the years, White has volunteered for a number of local organizations and is currently on the Board of Trustees for the Boys and Girls Club of Monmouth County. Most recently he served four terms as President of the Interlaken Borough Council and was the Chair of the Administration & Finance Committee and the Public Safety Committee.
Robert lives in the Wayside section of Ocean Township with his husband, Andrew.
For high-resolution photos of the entire 2022 NJ Realtors Leadership Team,
New Jersey Realtors, the voice for real estate in New Jersey for 100 years, is a non-profit organization serving the professional needs of more than 62,000 Realtor and Realtor-Associate members engaged in all facets of the real estate business. In addition to serving the professional needs of its members, NJ Realtors is dedicated to enhancing the ability of its members to conduct their business successfully while maintaining the preservation of private property rights. Realtor is a registered collective membership mark, which may be used only by real estate professionals who subscribe to the Realtor organization’s strict Code of Ethics and are members of the national, state and local Realtor organizations. For more information, visit njrealtor.com.
While a massive project wraps up to fill in some of the missing links between the Garden State Parkway and Route 18 in Tinton Falls at Exit 105, a reader asked why a direct connection wasn't built between the two highways?A $30 million project at Exit 105 started construction in 2013. The first phase built a less confusing connection between the parkway exit ramps, Route 36 and...
While a massive project wraps up to fill in some of the missing links between the Garden State Parkway and Route 18 in Tinton Falls at Exit 105, a reader asked why a direct connection wasn't built between the two highways?
A $30 million project at Exit 105 started construction in 2013. The first phase built a less confusing connection between the parkway exit ramps, Route 36 and Hope Road in Tinton Falls. Work on a second phase is underway to build a new ramp between the Parkway south local lanes and Wayside Road.
Known as the Wayside Connector, the ramp would allow drivers to access to a nearby Route 18 ramp.
Q: Why wasn't an interchange built between the Parkway and Route 18 when the Parkway was built?
A: Part of that question is easy to answer. Route 18 didn't go that far south when the Parkway was built.
"There was no Route 18 freeway there when the Parkway was built," said Thomas Feeney, a spokesman for the New Jersey Turnpike Authority, which runs the parkway.
There are links between the two highways, but they don't make a full interchange, Feeney said. Some of the ramps to and from the highways send drivers onto local streets to access the Parkway and Route 18.
"Exit 105 northbound connects the northbound GSP directly to northbound Route 18," he said.Surprise, gas prices drop on Memorial DayWhy wasn't a full interchange built when Route 18 was extended south? DOT officials said the answer to that question is unknown because of multiple decades that have passed since that section of the highway was built.
"The interchange sections between Route 18 and the Garden State Parkway in Monmouth County was part of a larger project which was completed in 1993," said Dan Triana, A DOT spokesman. "Since the (Route 18) project is almost 30-years-old, it is difficult to know what consideration went into designing the interchange in its current configuration."
One issue that would complicate building a complete interchange now is the amount of development that has occurred on land that would be needed for new ramps.
Whether the question is about a Route 9 exit with a hairpin curve or what happens when the state believes someone is too old to drive, bring us your questions and we'll seek out the answer.
Acquisition Expands Wayside’s Reach in EMEA and Strengthens Product Offerings in Storage, Cloud, Security and Data ManagementTransaction Expected to be Accretive to Gross Margin and EPSSpinnakar Founder and CEO Gerard Brophy to Join Company as a Managing DirectorEATONTOWN, N.J., Aug. 18, 2022 (GLOBE NEWSWIRE) -- Wayside Technology Group, Inc. (NASDAQ: WSTG) (“Wayside” or the “Company”), a value-added global IT channel company providing innovative sales and distribu...
Acquisition Expands Wayside’s Reach in EMEA and Strengthens Product Offerings in Storage, Cloud, Security and Data Management
Transaction Expected to be Accretive to Gross Margin and EPS
Spinnakar Founder and CEO Gerard Brophy to Join Company as a Managing Director
EATONTOWN, N.J., Aug. 18, 2022 (GLOBE NEWSWIRE) -- Wayside Technology Group, Inc. (NASDAQ: WSTG) (“Wayside” or the “Company”), a value-added global IT channel company providing innovative sales and distribution solutions for emerging technology vendors, has completed the acquisition of Spinnakar Limited (“Spinnakar”), a UK-based IT channel distributor, for an aggregate purchase price of $11.8 million (£9.8 million) payable at closing (subject to working capital and other adjustments), plus a potential post-closing earn-out. The Company funded the acquisition of Spinnakar utilizing cash from the Company’s balance sheet.
Spinnakar is a UK-based, IT channel distributor focused on storage, cloud, security and data management businesses across Europe, the Middle East and South Africa (“EMEA”). Spinnakar brings scale and channel expertise to Wayside with more than 15 vendor partners, including Cloudian, Deep Instinct, Rubrik, Virtuozzo and most notably, Vast Data, a universal data platform providing simple, affordable and fast scaling data and storage capabilities. For the trailing twelve months ended July 31, 2022, Spinnakar reported pre-tax income of $2.0 million1 (£1.5 million2).
Founder and CEO of Spinnakar, Gerard Brophy, will continue to lead and scale Spinnakar’s EMEA business and will seamlessly integrate with Wayside's European business units, Climb UK and Grey Matter. Wayside anticipates various operating synergies and improvements for vendor recruitment and expansion in EMEA and across the globe. Mr. Brophy is a seasoned executive and brings a strong track record of success in the IT channel, including his leadership role at BigTec, which was acquired by Exclusive Networks, in addition to his deep relationships with various vendor partners throughout the EMEA region.
“Spinnakar’s founders have a proven pedigree of over 40 years in building successful IT distribution businesses and bringing emerging vendors to market, where they have experienced exceptional growth,” said Wayside CEO Dale Foster. “Their European line card includes several vendors that we represent in the US, while also bringing several new key vendors such as Vast Data that provide significant cross-sell opportunities. Their deep knowledge and expertise in storage, cloud, security and data management match up seamlessly with our key verticals of focus. We expect this acquisition to be accretive to gross margin and net income, boosting both growth and profitability going forward.”
Commenting on the acquisition, Spinnakar Founder and CEO Gerard Brophy stated: “We are thrilled to combine with the Climb and Grey Matter UK teams and look forward to scaling the integrated business across EMEA. Both organizations have very similar DNA with our focus on emerging technology products and services. As a new member of the team, I plan to further expand our line card through our combined expertise and shared vision of bringing new, innovative companies to market through our global network.”
Additional information regarding the acquisition is available on our Current Report on Form 8-K filed with the Securities and Exchange Commission on August 18, 2022.
About Wayside Technology Group
Wayside Technology Group, Inc. (NASDAQ: WSTG) is a value-added global IT distribution and solutions company specializing in emerging and disruptive technologies. Wayside operates across the US, Canada and Europe through multiple business units, including Climb Channel Solutions, Grey Matter and CloudKnowHow. The Company provides IT distribution and solutions for emerging companies in the Security, Data Management, Connectivity, Storage & HCI, Virtualization & Cloud, and Software & ALM industries.
Additional information can be found by visiting www.waysidetechnology.com.
Spinnakar is a specialty distributor focused on bringing the top emerging technologies for Cloud, Data Centre and Security to the EMEA market. Spinnakar is a team of successful individuals who are redefining the value of distribution by offering a new approach to distribution. For their vendors they provide a footprint, scale, local knowledge and true partnership into the EMEA market through channel and end user relationships. Spinnakar has recognized that data, Cloud Management, Security and skilled services are major challenges for enterprises as they strive for a truly hybrid strategy. Our founders have a proven pedigree of over 40 years in building successful distribution businesses and bringing vendors to market, where they have experienced unprecedented growth.
The statements in this release concerning the Company’s future prospects are forward-looking statements that involve certain risks and uncertainties. In this press release, forward-looking statements can be identified by words such as “believes,” “expects,” “intends,” “anticipates,” “plans,” “estimates,” “projects,” “forecasts,” “should,” “could,” “would,” “will,” “confident,” “may,” “can,” “potential,” “possible,” “proposed,” “in process,” “under construction,” “in development,” “opportunity,” “target,” “outlook,” “maintain,” “continue,” “goal,” “aim,” “commit,” or similar expressions, or when we discuss our priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those described in any forward-looking statements include, without limitation, the continued acceptance of the Company’s distribution channel by vendors and customers, the timely availability and acceptance of new products, product mix, market conditions, contribution of key vendor relationships and support programs, inflation, as well as factors that affect the software industry in general and other factors. Currently, one of the most significant factors, however, is the potential adverse effect of the current pandemic of the novel coronavirus, or COVID-19, on the Company, the global economy, and financial markets. The extent to which COVID-19 impacts the Company will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the scope, severity and duration of the pandemic, the actions taken to contain the pandemic or mitigate its impact, and the direct and indirect economic effects of the pandemic and containment measures, including the impact on the Company’s reseller partners and the end customer markets they serve, among others. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described in the section entitled “Risk Factors” contained in Item 1A. of our Annual Report on Form 10-K for the fiscal year ended December 31, 2021, and from time to time in the Company’s filings with the Securities and Exchange Commission.
Drew ClarkChief Financial Officer(732) firstname.lastname@example.org
Investor Relations Contact
Sean Mansouri, CFAElevate IR(720) 330-2829WSTG@elevate-ir.com
___________________1 Amount converted from GBP to USD based on average exchange rate during the 12-month period ended July 31, 2022.
2 Amount derived from the filed Annual Report of Spinnakar Limited as of January 31, 2022, and the internal financial statements prepared by management of Spinnakar Limited, in accordance with United Kingdom Generally Accepted Accounting Practice.
Ocean Township is One of 28 School Districts Expanding High-Quality Preschool This Year Through Increased State FundingOCEAN TOWNSHIP – Governor Phil Murphy today visited Wayside Elementary School in Ocean Township to tour a new high-quality preschool program that benefitted from this year’s state funding increase of more than $68 million for early childhood education.“For the very first time, Ocean Township schools are receiving direct state aid for pre-K, allowing for an expansion o...
Ocean Township is One of 28 School Districts Expanding High-Quality Preschool This Year Through Increased State Funding
OCEAN TOWNSHIP – Governor Phil Murphy today visited Wayside Elementary School in Ocean Township to tour a new high-quality preschool program that benefitted from this year’s state funding increase of more than $68 million for early childhood education.
“For the very first time, Ocean Township schools are receiving direct state aid for pre-K, allowing for an expansion of full-day classrooms to serve our youngest learners,” said Governor Murphy. “Every dollar we invest in pre-K makes New Jersey a more affordable place for our middle-class and working families. Making this investment is how we maintain our position as a national leader in education and build a stronger and fairer economy that works for every family.”
As part of the preschool funding increase, the Governor’s Fiscal Year 2020 budget included $20 million in additional Preschool Education Aid to help 28 new school districts implement their early childhood education programs. This funding translates to approximately 1,450 additional seats statewide for children to attend a quality preschool program starting this month.
“New Jersey has always been a leader in early childhood education, but over the past few years we have experienced the greatest expansion of high-quality preschool that this state has seen in decades,” said Dr. Lamont O. Repollet, Commissioner of Education. “It’s heartening to see our efforts improve the programming offered in schools and improve so many young lives.”
Ocean Township received $586,772 in Preschool Education Aid this year, allowing it to add three full-day, high-quality preschool classrooms serving a total of 45 children. The district will continue to transition its half-day program to a full-day program in future years. The move to a high-quality preschool entails a transition to a full-day program with a certificated teacher, an aide, and small classes that are inclusive of children with special needs who have an individualized education program.
This year’s expansion of preschool funding to serve an additional 1,450 children comes as a part of the Governor’s initiative to invest in high-quality preschool while growing a stronger and fairer economy that works for every family. Since the Governor took office, more than 4,300 children in 64 school districts are enrolled in early childhood education.
“Early childhood education is one of the best investments we can make,” said Senator Vin Gopal. “When we give our kids a comprehensive educational foundation, we put them on the best foot forward for future success at school and in their careers. I was glad to join the Governor today to see just how impactful these investments have been for our children and our communities, and I’m excited to see how this funding will help the students and families of Ocean Township schools.”
“Research shows attending preschool helps students build the skills they need to help them succeed academically and socially throughout their school careers,” said Assemblyman Eric Houghtaling. “With this additional funding, more children in the Ocean Township school district will have access to preschool and its benefits. This important investment in our schools will help set our young students on a path to reach their fullest potential.”
“Before this school year, Ocean Township schools were only able to offer preschool classes to a very limited number of students,” said Assemblywoman Joann Downey. “I am thrilled Ocean was one of 28 districts selected to receive increased state aid to help expand its quickly growing program, and offer more children a chance to begin their education earlier. Investing in our schools will make our state’s education system more comprehensive and valuable for our students, building a strong foundation on which they can find success.”
“We are grateful to Governor Murphy and the Legislature for supporting early childhood education in order for our youngest learners to have the support they need in order to succeed,” said Ocean Township Mayor Christopher Siciliano.
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- Acquisition Expands Wayside’s Reach in Canada and Strengthens Product Offerings in Cybersecurity, Information Management and Network Solutions -- Transaction Expected to be Accretive to Net Income -- 2020 Business Remains Strong Amid COVID-19 -EATONTOWN, N.J., April 22, 2020 (GLOBE NEWSWIRE) -- Wayside Technology Group, Inc. (NASDAQ:WSTG) (“Wayside” or the “C...
- Acquisition Expands Wayside’s Reach in Canada and Strengthens Product Offerings in Cybersecurity, Information Management and Network Solutions -
- Transaction Expected to be Accretive to Net Income -
- 2020 Business Remains Strong Amid COVID-19 -
EATONTOWN, N.J., April 22, 2020 (GLOBE NEWSWIRE) -- Wayside Technology Group, Inc. (NASDAQ:WSTG) (“Wayside” or the “Company”), an IT channel company providing innovative sales and distribution solutions, has entered into an agreement to acquire Interwork Technologies (Interwork), a technology distribution company, which will be integrated into Wayside’s Lifeboat Distribution business. The transaction is expected to close during the second quarter of 2020, subject to customary closing conditions.
Interwork is a Toronto based value-added specialty distributor focused on cybersecurity, information management and network solutions in both Canada and the US. Interwork brings scale to Wayside with more than 20 new vendor partners, a network of approximately 2,500 value-added resellers (VARs) and an incremental increase in annual gross billings of approximately 10%.
Interwork President Joe Graci will now lead Lifeboat’s Canadian business with plans to integrate both companies’ Canadian operations, which Wayside anticipates will bring various cost synergies through the consolidation of sales, general and administrative expenses. Joe’s diverse industry experience and perspective will be a welcome addition to the Wayside management team.
“Interwork brings an exceptional team to Lifeboat with a very similar culture built on servicing clients with a differentiated, high-touch approach,” said Dale Foster, CEO of Wayside. “We have identified multiple near-term cost and revenue synergies; and given our limited overlap in customers and technology partners, we expect to actively cross-sell products and services across both organizations. We look forward to expanding our presence in Canada through Interwork’s network of VARs, and we expect this acquisition to be accretive to adjusted EBITDA, which will allow us to continue to accelerate growth and profitability on the heels of our record 2019 performance.”
Commenting on the acquisition, Interwork President Joe Graci stated: “Both Lifeboat and Interwork have carved out a unique and differentiated space in the market to help launch and develop emerging technology brands. Our team prides itself on delivering highly-responsive service levels and invests heavily in training and development to provide our partners with the expertise and support they need to grow their business. We look forward to integrating with the Lifeboat platform as we leverage one another’s deep relationships with technology partners and VARs across the U.S. and Canada.”
Although Lifeboat and Interwork have only three overlapping vendor partners, one of their top shared technology partners, Acronis, has endorsed the business combination. Patrick Hurley, general manager of North America for Acronis, commented: “Over the years, Acronis has built a long-standing and successful relationship with both Lifeboat and Interwork. We see significant value in the combination as both companies’ unique strengths can provide a best-in-class service that will grow our distribution network and expedite our go-to-market for new products. We look forward to working with the combined team and continuing to deepen our relationship.”
Outgoing Interwork Chairman and Partner at FirePower Equity, Anthony Lipschitz, commented: “We are excited for both parties and look forward to seeing the great things they will bring to the market for years to come, while remaining true to their core as a specialized distributor with high-touch customer focus.”
Wayside CEO Dale Foster continued: “With the announcement of this transaction, we are confirming the commitment to our strategic plan by accelerating growth through inorganic initiatives. This is the first acquisition by Wayside in over 25 years, and we will continue to capitalize on both organic and inorganic growth opportunities as we integrate our teams, launch new vendors and expand our market presence.
“Despite the uncertainty around COVID-19, we have been fortunate that our business has remained strong year-to-date. Our entire workforce is up and running remotely. We will continue to serve our customers during these unprecedented times and provide them with a broad range of technology solutions that help them go-to-market.”
Further information regarding the acquisition of Interwork is available on Form 8-K filed with the Securities and Exchange Commission on April 22, 2020.
Interested parties for distribution services and solutions should contact Lifeboat by phone at 1-800-847-7078 (US) or 1-888-523-7777 (Canada), or by email at email@example.com.
About Interwork TechnologiesInterwork Technologies is a North American value-added specialty distributor of Cyber Security and Service Provider solutions. Interwork partners with leading vendors to deliver a boutique, specialty distributor experience to thousands of reseller channel partners for over 25 years.
Interwork is committed to delivering exceptional service, value, and expertise to its partners with its ability to connect the right people, products, and partners. Interwork’s goal is to enable channel partners through education, technical implementation services, cyber security training programs, and helping Solution Providers identify emerging technologies that solve real problems and today’s evolving cyber threats.
About Lifeboat DistributionLifeboat Distribution, a subsidiary of Wayside Technology Group, Inc. (NASDAQ: WSTG), is an international value-added distributor for virtualization/cloud computing, security, application and network infrastructure, business continuity/disaster recovery, database infrastructure and management, application lifecycle management, science/engineering, and other technically sophisticated products. The company helps vendors recruit and build multinational solution provider networks, power their networks, and drive incremental sales revenues that complement existing sales channels. Lifeboat Distribution services thousands of solution providers, VARs, systems integrators, corporate resellers, and consultants worldwide, helping them power a rich opportunity stream and build profitable product and service businesses.
For additional information visit www.lifeboatdistribution.com, or call 1.800.847.7078 (US), +1.732.389.0037 (International), +1.888.523.7777 (Canada), or +22.214.171.12405 (Europe). Follow Lifeboat Distribution on LinkedIn, Facebook and Twitter @LifeboatVAD.
About Wayside Technology GroupWayside Technology Group, Inc. (NASDAQ: WSTG) is an IT channel company and parent of Lifeboat Distribution, an international value-added distributor for Emerging Technology Vendors with solutions for Security, Data Management, Connectivity, Storage & HCI, Virtualization & Cloud and Software & ALM. Lifeboat Distribution provides vendors access to thousands of VARs, MSPs, CSPs and other resellers. Lifeboat Distribution holds an IT-70 GSA contract vehicle that provides resellers and vendors with a competitive edge within the Public Sector.
Additional information can be found by visiting www.waysidetechnology.com.
Forward Looking Statements This press release includes certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995.
All statements, other than statements of historical fact, included in this Press Release may constitute forward-looking statements. These forward-looking statements may be accompanied by such words as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “potential,” “project,” “target,” “should,” “likely,” “will” and other words and terms of similar meaning. These forward-looking statements are subject to certain known and unknown risks and uncertainties, as well as assumptions that could cause actual results to differ materially from those reflected in these forward-looking statements. These risk and uncertainties include, without limitation, the continued acceptance of the Company’s distribution channel by vendors and customers, the timely availability and acceptance of new products, product mix, market conditions, contribution of key vendor relationships and support programs, as well as factors that affect the software industry in general and other factors. The expected closing of the acquisition of Interwork is conditioned on both parties satisfying certain pre closing conditions. There can be no assurance that the transaction will close according to the timeline indicated or at all. Currently, one of the most significant factors, however, is the potential adverse effect of the current pandemic of the novel coronavirus, or COVID-19, on the Company, the global economy and financial markets. The extent to which COVID-19 impacts the Company will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the scope, severity and duration of the pandemic, the actions taken to contain the pandemic or mitigate its impact, and the direct and indirect economic effects of the pandemic and containment measures, including the impact on our reseller partners and the end customer markets they serve, among others. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in our filings with the SEC.
Readers are cautioned not to place undue reliance on any forward-looking statements contained in this Press Release, which speak only as of the date of this release. Except as required by law, we undertake no obligation to revise or publicly release the results of any revision to any forward-looking statements.
Company ContactMichael VeseyChief Financial Officer1firstname.lastname@example.org
Investor Relations ContactSean Mansouri, CFA or Cody SlachGateway Investor Relations1-949-574-3860WSTG@gatewayir.com