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Raleigh Durham, NC Area

  • Listing No.: 209-00002

  • Category: Internet/E-Commerce

Asking Price $4,975,000.00
Down Payment
Gross Revenue $8,107,500.00
Total Adjusted Net Income $5,650,842.00
Equipment / Fixtures $1,148.00
Year Established 2008
General Location Raleigh Durham, NC Area
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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.

Gross Revenue $8,107,500.00 Listed Price $4,975,000.00
Total Income $5,650,842.00 Down Payment
Base Rent $850.00 Square Feet 800
Total Rent $850.00 Lease Expiration 1/2020
Rent Deposit $850.00 Lease Options 1 1 year
Inventory Not Included Leasehold Improvements
Equipment / Fixtures $1,148.00 Other Assets
Full-Time Employees 22 Training Period 1 year from date of closing
Part-Time Employees Special License Required
Contract Staff Reason for Selling Couple would like to slow down and spend more time with their 3 young children

The information contained herein was received from the Seller and is deemed reliable but not guaranteed. First Choice Business Brokers (FCBB), has relied upon the Seller to provide the above details and has NOT verified this information. FCBB is not responsible for and does NOT warrant any statements, projections or any information provided by the Seller. The User/Buyer will be solely responsible for verification of the Seller's profits and business operation. By acceptance of this document, the Buyer/User agrees that all information contained herein is strictly confidential and will not be disclosed to any other party without prior written authorization. The Buyer/User confirms and understands that FCBB has NOT performed an independent investigation of the business or figures quoted herein.

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