This software company, established in 1977, provides and maintains middleware to client banks to run their ATM operations. Specifically, the software acts as a bridge or interface between the clients' internal systems and external ATM networks. The company customizes its core programming code to work with their clients' systems. In addition to executing client projects to expand the functionality of their software, the company provides routine maintenance under annual contracts. About 70% of their total sales are recurring. The company has very few competitors due to high switching costs. The company maintains very clean and current books and records. Having done no business development since 2005, the company has excellent opportunities for growth. The owners were ready to retire.

The buyers, Fortitude Partners, a New York City based investment firm specializes in lower middle market companies in the software, technology, healthcare, media and telecom sectors.

This business was sold within 4 months of going to market

Peggy Tate listed and sold the business.