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Listing ID: 3173333

Highly Profitable IT Software Development Company For Sale

Raleigh Durham, NC Area, Wake, North Carolina, United States

$ 4,975,000

(Furniture / Fixtures included)

Revenue: $ 8,107,500

Cash Flow: $ 5,650,842

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.


Please contact us for more details.

Property Details

Size:

800 sq ft

Years Established:

2008

Property Type:

Lease

FF&E:

$ 1,148

Other Details

Business Location:

This is a leased location of 800 square feet with a Total Rent of $850. Lease ends 01/2020 with a one 1 year lease options. Seller is/ active in the business with 22 FT employees. Hours of operation are 8 AM to 5 PM, Mon-Fri.$1,148 in FF&E included in Asking Price.

Operation Details

Employees:

22 FT

Trading Hours:

8 AM - 5 PM

Support & Training:

1 year from date of closing

Miscellaneous

Reason For Selling:

Couple would like to slow down and spend more time with their 3 young children

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