Highly Profitable IT Software Development Company Relocatable

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Highly Profitable IT Software Development Company Relocatable

Listed by Business Broker
Highly Profitable IT Software Development Company Relocatable

Asking price $4,975,000

Raleigh, NC

Cash Flow: $300,000

Gross Revenue: $3,107,500

EBIT DA: No Data

FF&E: $1,148

Inventory: No Data

Established: 2008

Type: Independent

Business listed by:
Lenwood Mills
First Choice Business Brokers Raleigh Durham

Business Description:

A Software Development firm providing software solutions and development services with specialization in Application Development. Company started as a web design firm in 2008 and grew through word of mouth and client references. They grew organically without any VC funds, bank loans or financial help and ventured into other IT areas such as Application Development, Mobile App development, Data Analytics, Custom software development, SaaS, Cloud Migration, PaaS, etc.. Today, there are 22 employees in the US and 12 in India. Together, they have varied development skills on areas such as Azure Cloud, Google Cloud, Postgres, Java, C#, .Net, Oracle DBA, Sybase DBA, JavaScript, Flutter, Hadoop, etc. Apart from the 22 folks in the US, there is 1 Office Admin, 1 Client Liaison and 1 Chief Technology Officer in the US. The 12 resources in India support development, testing and admin services. The company is serving a total of 25 clients in the US, currently providing software development services with employees working onsite at client offices. The company also has two products, one of which is a market leader in an Industry vertical. This product serves a $7 billion market and has huge potential. The company doesn't have a sales team to aggressively market their products, however new clients approach us through word of mouth from existing clients. The second product is in beta phase. A similar product launched recently by a venture backed firm grew 400% in 1 year. Both of these products have huge potential, but require a solid marketing and sales team to get in front of potential customers. All of the current employees are at 100% utilization doing client projects. A third product idea is on hold and a new client project is pending as the firm looks to increase their development team. All of the firm’s resources are in billable projects and they have a full pipeline of upcoming projects and leads. Ideal buyer is a bigger software firm that can acquire staff and clients and continue to provide services and accelerate growth through an established Sales team.

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