Financial Software Development Firm For Sale

Business description

The March Group currently represents a well-established and innovative provider of a proprietary suite of Windows-based financial software, primarily for municipal applications. Software suite of more than 25 applications covers tax billing and collection, fund accounting, payroll/human resource, and utility application needs for municipalities of all sizes and operating budgets. As part of a turnkey engagement, the Company also provides hardware, networking, and communications infrastructure requirements of its clients. Multi-year government contracts with annuitized cash flow from support agreements in excess of $900,000, allowing for self-sustaining cash flow within a recession proof industry. Extensive experience in producing high-volume, transaction processing financial software systems for related financial industries, including a national tax lien acquisition platform provided to a multi-billion dollar bank. Enviable reputation for functional, user-friendly software and a strong focus on customer support and service result in exceptional customer relationships and a client retention rate exceeding 95%. Supports more than 1,000 users and has successfully deployed more than 500 financial and tax applications. Proven product development and installation/support paradigm with a scalable blue print ripe for national expansion. Boasting a very strong share of its state market, the Company has made significant headway into the markets of (regional) states; the active account base presently numbers 79. Managing shareholders would be interested in remaining with the firm under a recapitalization, which would provide the growth capital necessary for continued development.

Property information

Real Estate:

Lease

Premises details:

The Company operates from an 8,000-square-foot office facility with ample room for growth. The facility is leased from an unrelated third party.

Size in square feet:

8,000

Other information

Competition / Market:

Increased marketing efforts coupled with the investment in resources necessary to tailor the software suite for use nationally would drive growth well beyond pro-forma projections.

Support & training:

The active principals are available to remain with new management to facilitate a smooth ownership transition.”

Reasons for selling:

Shareholders are interested in either a full or partial sale, the latter providing the growth capital needed for continued growth and development, and under which the management team would stay on.