Independent Software Vendor – Scientific Sector – For Sale

• Long-established IT software company of 21 years, based in South East Australia.

• Specialist in Laboratory Information Management Systems (LIMS).

• Software easy to use and flexible – able to adapt to different operations, environments and scenarios without the need for customisation.

• Extensive customer base (60+) throughout Australasia (predominantly Australia but also New Zealand, Indonesia and China).

• Supports a wide range of large laboratories, predominantly from competitive, time- sensitive, commercial markets.

• Turnover to June 2014 was AUD$1.035m, with an adjusted EBITDA of $228k (21%). Forecast turnover to June 2015 is c.$1.056m with an adjusted EBITDA of $410k (39%). Four year average EBITDA of c.31%

• Recurring annual maintenance contracts accounting for one third of turnover.

• Individual systems sell for $50K to $200K – the cost typically recovered by clients in the first 2 years by efficiency gains alone.

• The systems enjoy an almost 100% up-time. Highly stable database, able to withstand major network and server crashes without corruption.

• Strong customer service and competitive advantage - rapid response and turnaround times, bespoke service and a low error rate.

• Recently introduced partnership with a Cloud service provider enabling remote access and seamless operation.

• Small team with strong experience base.

• Core product has been internationalised - huge potential for export/international growth.

• The acquisition offers the chance for an existing software company to add a new product to their portfolio or for the right laboratory supplier to provide an additional offering.

Products and Services

• Fully integrated Laboratory Information Management System with support and maintenance contracts and add-on functionality modules.

Employees

• There are currently 8 staff, and a second customer service officer is to be appointed imminently.

Premises

• High quality, contemporary offices in South East Australia. Current lease is for 3 years to September 2017.

Reason for sale

• The vendor is approaching retirement age and is looking to sell the company. He is willing to support a handover for as long as is required.

Financial Overview

SOLD