(Sigmund Software) We contacted a variety of potential buyers and received multiple bids, which allowed us to get the full asking price for this business opportunity. We had bids from software companies and private equity groups that were located in Canada, Europe, California, and the Washington DC area. The full price offer came from a Canadian software company that was motivated to move quickly and had financing in place.
(Alarmpath/CRN Wireless) A company that manufacturers wireless security devices which they sold to home alarm and security companies. The seller did not want to sell their company to a direct competitor or customers and was concerned about confidentiality. They had previously tried to sell the company with another Business Broker that was unsuccessful and charges an upfront fee. They liked our fee structure and experience. As with every listing we had potential buyers sign confidentiality agreements and contacted buyers that were in the industry, but not direct competitors, and also companies in related industries that could leverage the technology and customer base. We did receive multiple offers on the business for sale, and ultimately, the best buyer that was able to move forward in a timely fashion came from someone outside the industry.
(Momentum Software, Inc.) This company has proprietary software used in Banking, Insurance, Healthcare, government, and manufacturing to allow them to transfer files securely. The products improved workflow in Supply Chain Management, ERP, E-Commerce, Electronic Funds Transfer, and Electronic Data Interchange (EDI). With our experience in selling software companies and our extensive database of potential buyers, we were able to quickly introduce many potential buyers for the company, and a deal was negotiated and closed within a few months from the seller’s initial inquiry to us.
(Bista Solutions) An M&A firm that had the assignment to sell this business wanted our assistance in locating a potential buyer. We utilized our database of over 20,000 potential buyers and experience in marketing technology companies to find many potential buyers which the M&A firm introduced to their client. They were able to close on a deal that worked for our buyer and their seller.
(Williams & Associates) This software company provided asset and facilities management software products and services to government and utilities. The seller wanted the stability and steady income of working for a larger company. Sold the business to a Mexican technology company that wanted to buy an established US business to give them a presence in the US. Seller is now heading up their US operations on a salaried basis after cashing in his equity in the company.
In addition to providing ISP service they also provide virtual private networks (VPN), cloud computing, voice over IP (VOIP), IT managed services, SaaS, and more. As with all of our tech assignments we had many different potential buyers including other tech companies. The best offer came from a private equity group that saw the opportunity to grow the business. The business was sold in less than 6 months from start to finish.
Specialized ERP Software Company that provides systems for small and mid-sized manufacturing companies. Their software is used for Order Management, Financial Management, Engineering, CRM, Analysis, and more. The software uses an Oracle Database and uses Oracle forms and reports. They also provide IT consulting to install and customize the program. There were other technology companies interested in acquiring this company however the best offer came from an individual that worked in IT in the corporate world. He was able to get SBA financing and have the bank pay the seller at the closing.
(Flat Rate Cleaners) Internet Dry Cleaner business based out of New Jersey servicing customers in NYC and New Jersey. We located a buyer that had an existing Dry Cleaner plant and could leverage these retail customers with his current business. The seller wanted to take some time off from working for the company and was able to do so after completing the sale.
(Printvision, Inc.) Their technology allows their customers to reduce their costs with their suppliers. We were able to locate several potential buyers, and the best offer came from an Asian software company that was in a similar business and wanted to get a foothold in the US Market and NYC was the perfect location for them.
(Liquid Discount) A business that derived the majority of its revenue over the Internet. We located the right buyer that appreciated the internet business but was also willing to operate a retail store with walk-in customers.
(New England Systems & Software, rebranded as Acture Solutions) The company provides IT Services to both Corporate and Government Clients. Their areas of expertise include the Design, Installation, Implementation, and Support of Computer Networks, Wireless Systems, Security, Telecommunications, Networking, Video Conferencing, managed systems, and more. They have experience working with systems from Cisco, IBM, Dell, 3Com, HP, and more. Due to our large database of potential buyers for Tech companies we received a lot of interest. After meeting with potential buyers and negotiating offers we went into due diligence and closed the deal in 8 months from the start of the assignment. The new owner hired a CEO from another company in the industry and relocated the company from Lake George, NY to Schenectady.
(Entertainment Arts Research, Inc.) We had many potential buyers, and ultimately, the best offer was from a public marketing and communications company that saw an opportunity to leverage the proprietary software of our client. They will keep the owner of the company on for a while after the sale to help them make the best use of the technology, clients, and staff of the company.
(Life Systems Software) The owner of this successful software company was ready to retire. We located many potential buyers, and the best offer came from an experienced software executive. We negotiated the terms and kept the deal on track through due diligence to close the deal.
(Action Computer Systems, Inc.) This company had a specialized niche, and we were able to locate a buyer that was a public company that wanted to enter this market. The business was sold for the full price that the seller wanted.
Sold products nationwide and built up an extensive email list that they used to develop long-term repeat customers. We located a buyer and arranged the financing so that the seller was able to get paid the full price at closing without the need to provide any seller financing.
(ESI Electronic Products Corp.) They provide comprehensive, advanced electronic design and manufacturing services. They manufacture printed circuit boards (PCB) and other electronic design and control assemblies for their customer’s needs, including product development. They service customers in industries that include: telecommunications, industrial controls, exercise equipment, industrial testing, and consumer equipment. The owner had a 15,000 sq. ft. building that he will lease to the new owner. The buyer had an engineering and manufacturing background and had funding from Hong Kong sources. The deal was completed in less than 5 months from our marketing program.
(Triax Computer Services) Company specializing in providing computer solutions including hardware, software, and services to the Education market as well as other industries. The seller wanted to concentrate on running another business, and we sold the company to another IT professional that wanted an additional revenue base and clients to cross-sell with his current offerings.
The business provides specialized IT Services for a variety of different applications including: 1. Cash Management applications to improve the use of cash for corporate customers. 2. IT Services to improve the workflow of Buying Groups and Co-Ops. 3. Business Process Re-Engineering (BPR). 4. Testing Automation. 5. Digital Process Automation. The owner was ready to retire. As with all of our IT assignments, there were plenty of interested buyers. It took some to narrow the potential buyers down and work with the ones that were most interested and qualified.
They provided a number of digital services including digital reproduction, digital backup, video transfer, networking services, and more. The owner purchased the business a few years ago and wanted to relocate out of the country. We were able to get several offers and the business sold for close to the full price with the seller providing some financing to the buyer.