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Listing ID: 2993046
Seller ref: +91-9819093935

Highly Profitable It Service Business Into Insurance For Sale

Mumbai, Chandigarh, India

Asking Price:: $5,000,000 (USD) Furniture / Fixtures included

Sales Revenue:: $1,000,000 (USD)

Cash Flow:: $450,000 (USD)

The company is a 10-year-old Chandigarh based IT Company. Established in 2010, our client is a well-established Software developer for the US Insurance Industry. They have a primary focus on Salesforce (Platinum membership) and e-Learning verticals and develop cloud and mobile apps over Azure, AWS, Salesforce, Heroku, .NET, PHP, Python, React, NodeJS.

In addition to services, the company has started its product division in 2019 for the US Insurance Industry. Three products are ready and have started generating revenue and two more are under development. The company has also become an Accord member which is the global standards-setting body for the insurance and related financial services industries.

They have 23 Clients (majorly US Insurance Companies), most of which have been with the company for a minimum of 3-5 years. They are currently in talks with few more US clients and one UK client as well.

Services provided by the company are:

· Salesforce Customization (40%)

· PHP and related technologies (35%)

· ASP.NET MVC Web Applications Development (18%)

· Mobile application development and other (7%)

Property Information

Real Estate:: Lease

Lease Terms:: Can be extended due to a good relationship with the landlord.

Location:: Chandigarh, Mohali, Rajpura is a growing hub for new-age talent. Potential Buyers should have professional management that can keep pace with the growing company.

Business Operation

Expansion Potential:: We have started building products as well for the Insurance Industry. The products division is a new vertical and we have developed 3 such products for the US Market. These products have already started gaining traction.

Competition / Market:: The Business is catering to the insurance segment for the US Market. This makes the service very niche as most of the service offerings related to this in the market are very expensive and our competitive edge has been to provide similar quality service at nominal cost.

Reasons for selling:: Promoter relocating to Canada

Trading hours:: 24/7, Mon-Fri

Employees:: 80

Years established:: 2010

Other Information

Support & training:: The promoters are willing to continue the business for a while to ensure a smooth transition. In addition, there are also technical leads in the business who have been taking care of the day to day operations.

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