Description

Industry leading software and services provider for legacy image and data migration and conversions to the financial services industry. Through its flagship product, the company offers users a more efficient, secure and cost-effective means to migrate and/or convert legacy data from its original system.

Key Aspects
· Employees bring more than 20 years of experience in specialized data conversions and migrations
· Long-term contracts in place with banks and credit unions nationwide that span three to seven years and automatically renew at the end of the term
· Over 300 individual contracts across the US and Guam, with no single client accounting for over 8% of total sales
· Ability to convert more than 300 legacy image and data system formats to any output format utilizing a user-friendly browser-based interface
· Industry-leading software that migrates legacy data and images from almost any archive system in a much more efficient manner than traditional methods and allows for enterprise wide research, printing,
and emailing
· Compound annual revenue growth of 90.6% over the period of December 2013 through December 2015

Opportunities
· Recurring revenue model in place with maintenance contracts that typically span seven years
· Established client base to build upon with significant repeat business due to the products long-term archive solution for legacy data
· Incorporate related services into the existing client base to increase revenue
· Expand sales team domestically and internationally in order to penetrate other geographical areas
· Increase market share by expanding current image and data conversion product suite into other verticals such as healthcare, legal, and accounting

Market Currently Served
Banks and credit unions throughout the United States and Guam

Real Estate
The company leases 2,500 square feet of office space in Birmingham, Alabama from a non-related party.

Shareholder/ Owner Objectives
Two shareholders interested in exploring their options and open to various deal structures. The owners are available to remain with the business for three or more years to assist new ownership with continued growth and expansion initiatives.

Posted Jul 25, 2016

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