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Custom Software and Technology Consulting Firm
NCListing DetailsOffice ID: TECH9
Status: Active
Listing Broker: Jeff Snell, CM&AP, M&AMI, LCBI, ABI
Listing Price: $6,000,000
Gross Revenue: $1,971,847
FF&E Included: No
EBITDA: $1,019,981
Sales Structure: Asset Sale
Seller Financing: Yes
Financing/Terms:
Brokers proposed sales structure in an asset sale with 4x EBITDA being paid at closing and 2X EBITDA being paid over 5 years subject to a non-slippage clause that for payment requires sales to at minimum remain at 95% of trailing 12 months gross sales.
Home Based: Yes
Reason for Sale:
Seller is a true serial entrepreneur that has started, purchased and sold multiple businesses.  Owner’s objective is to go into companies, fix broken processes, apply technologies that improve business, increase service offerings, improve cash flow, improve profitability and ensure the business can operate without an owner/operator situation. Once completed the owner moves onto the next business.
Training:
Seller will provide 80 hours of transition support included in the purchase price.  Additional transition assistance may be negotiated at fair market rates.
OperationsYear Established: 1997
Last Acquired: 2019
Form of Ownership: S Corp
Employees (full-time): 8
Employees (part-time): 4
Employees (contractors): 17
Managers: 3
Business Hours: 8-5 M-F
Summary
Business Description:
This business is a one stop shop for small, medium and large businesses requiring online, offline and cloud based software services focused on highly customizable lean development methodology.  They specialize in digitizing and optimization of business processes and communications. If it involves hardware, software, AI, networking, cloud services and/or app development this firm delivers.
Historical Summary:
The company was originally formed in XXXX and operated from New Jersey and India based hard wall offices.  The company provides the same services to previous clients and has added significantly to its client roster. When the company was purchased in 2019 by its current owner it was relocated to the Research Triangle Park area and transitioned to a 100% virtual operation with services being performed domestically and internationally.  
Owner Qualifications:
Buyer will need to have a general working knowledge of technology, software, project management, client acquisition and management, marketing, basic accounting, human resources or hire in or outsource functions as needed.
Competition:
There are many competitors in the software and application development space.  This firm differentiates itself by being 100% domestically based and now virtual avoiding all occupancy related costs.  The company has excellent client relationships, online reviews and ratings.
Potential Growth:
Seller believes the new owner can continue with the companies current vision to continue strong growth.  As of Fall 2021 the company has approximately $800,000 of backlog.
LocationType of Location: Virtual
Facilities:

The company was originally operated from hard wall offices in India and New Jersey.  The business has been successfully transitioned to North Carolina's Research Triangle Park area and is 100% virtual.


Last Updated: Nov 6, 2021 / 11:43 AM
Financial Information Current As Of: Sep 8, 2021 / 12:51 PM