This is a very profitable Connecticut based Information Technology Consulting company. The company provides their customers with innovative products for easier office automation for the private and public sector. In operation for over 20 years, the company combines their expertise in deployment of office automations and content management solutions to deliver secure, and cost-effective services to all their clients. Their experience and expertise have earned the company a high positive customer experience that has garnered the company multiple government contracts and over 70% in recurring revenues. This ARR comes from staff augmentation and support contracts. Increased consumer demand driven by the work-from home culture, evolving technological solutions and the need for advanced technical capabilities continue to provide a fertile revenue flow for the company. These opportunities are evidence by nearly 25% yearly growth from 2019 to 2020 and a sustained upward projection for the future. 99% of revenue comes from contracted Gov’t entities in several different states.
Key Business Highlights
• The company has over 70% of its revenue as recurring. This comes from product and service support to existing customers. This makes the business very lucrative.
• Employees receive medical and other employment benefits to keep them motivated.
• The majority of the company’s business comes from government contracts that pay better, consistent and are contracted for long term.
• The company has a small in-house team for development and outsources all other technical support. This enables the company to scale up or down based on a client’s project needs.
• The company has passed the COVID19 stress test. It’s 2020 growth performance has shown great sustainability of the company even through challenging times and working environment.
• The business can be easily scaled, expanded and can even be operated 100% remotely.
• The company has a wide selection of products that can be used in a wide range of applications to satisfy the needs of a very wide customer base. Its products and strategic partnership with a big player in the industry have seen continued growth in the income of the company.
Competition: Lack of a marketing plan. Ability to scale to other technology offerings such as cloud services. Lack of capital to expand. Economic turmoils. Changing technology such as growth of artificial intelligence.
Growth & Expansion: Can be operated virtually. Good customer relations. Seasoned and expert employees. Highly profitable. Sustainable recurring revenue. Low competition in its segment. Other market to expand in the private sector. Can integrate more services such as cloud based services. Can expand to more locations nationwide.
Support & Training: Full transition will be provided
Reason for Selling: Other Interests