Real Estate Available
This small, outsourced software development business serves companies that need regular custom software development. Midas employees write code in multiple languages and provide significant support as a Microsoft Solutions Vendor. The Company’s 20+ employees provide programming, project management, business development and strategic architectural services. The business brings domain knowledge to three niche verticals, as well as, strong skills in capturing business intelligence for client.
The seller desires a cash transaction from a strategic or experienced financial buyer. Strong management and technical teams are in place. The seller will provide up to 3 months of transition support; however, a strong team runs the daily operations.
The Company leases facilities in multiple locations. Some associates also work remotely.
Market Outlook / Competition
Business is steady. The company’s project managers ask customers for new SOWs when current SOWs are completed. As a result, the year over year retention of the Company’s customers is excellent. Most all customers own proprietary software that needs regular updates and service as new features, connectivity with other technologies, software and security components are required. The business would benefit from a focused sales and marketing initiative. Today, most new business is from referral with little outward prospecting or marketing efforts.
The outsourced software development industry is highly fragmented. There are both large and small companies that provide custom software augmentation, dev-ops, maintenance, design, business intelligence and programming. The owner will only sell to experienced financial buyers or strategic buyers. If you don’t have real software development experience, you will not be considered.