Software and Related Services For Insurance Industry
| Asking Price: | Not Disclosed | Inventory: | |
| Gross Revenue: | $6,300,000 (comments below) | Real Estate: | $700,000 ** |
| Cash Flow: | $2,000,000 (comments below) | FF&E: | n/a |
| ++ included in the asking price ** not included in the asking price | |||
| Gross Revenue Comments: 70% recurring | |||
| Cash Flow Comments: EBITDA | |||
PRINCIPALS ONLY!!
The Company:
• Mid-west based; privately owned; created in 2004 by three senior level, industry, technology, and M&A experienced professionals
• Grown by acquiring companies w/mature, proven insurance software solutions and enhancing them w/modern technology and extended functionality
• Already a leader within the technology driven applications service provider sector of the insurance and risk management industries
• Uniquely positioned to help clients achieve measurable and significant ROI from reduced operating costs to improved loss ratios
• Enjoys the economies of owning an off-shore design and development center
The Investment Attributes:
• 70% recurring revenue with high margins
• Experienced management team willing to stay
• Well diversified, high profile, nationwide client base
• Follow-on acquisition growth plan already identified
• Real estate available for expansion and/or separate development
• Located in economic development zone with associated financial incentives
The Company:
• Mid-west based; privately owned; created in 2004 by three senior level, industry, technology, and M&A experienced professionals
• Grown by acquiring companies w/mature, proven insurance software solutions and enhancing them w/modern technology and extended functionality
• Already a leader within the technology driven applications service provider sector of the insurance and risk management industries
• Uniquely positioned to help clients achieve measurable and significant ROI from reduced operating costs to improved loss ratios
• Enjoys the economies of owning an off-shore design and development center
The Investment Attributes:
• 70% recurring revenue with high margins
• Experienced management team willing to stay
• Well diversified, high profile, nationwide client base
• Follow-on acquisition growth plan already identified
• Real estate available for expansion and/or separate development
• Located in economic development zone with associated financial incentives
About the Business
Year Established:2004
Employees:30 full time -
Facilities:HQs facility, owned separately by the principals, has 7,500 square feet of office and support space and sits on seven (7) acres in a semi-rural setting. The parking lot currently has spaces for 36 vehicles with room to expand up to 150 parking spaces. The Company also leases a field office in the NYC area, a development center in New Delhi, India, and space in an SAS 70 Level II data center for its hosting and ASP servers.
Market Outlook and Competition:Competitors include some large, broad scale, well capitalized firms, as well as, some smaller focused firms. However, in all cases, their go-to-market strategies are similar and require the time, effort, costs, and leap of faith for clients to completely abandon their legacy systems and deploy new replacement systems from these providers. That is in direct contrast with the Company that specifically goes to market with the opposite strategy of enabling clients with legacy environments to upgrade their systems and avoid the extraordinary costs of replacing them.
About the Sale
Reason For Selling:Recapitalization/sale allowing the exit of two minority partners
KEYWORDS: internet, web based, software, financial services, business services, insurance, IT, development, technology, ASP
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The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. Please review the full Disclaimer here.
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