Leading custom enterprise software developer finds new growth

Exitwise helped Gigster

Challenges or Deal Synopsis

Can talk about the challenges or deal summary of what the client was looking for

Results

Gigster received a $70M offer

Seller

Gigster helps Fortune 500 companies develop software applications with the speed of a startup, coupled with the quality and expertise of the most innovative institutions in the world.

The company dramatically speeds up the custom software development process by assembling teams of the best software engineering talent from anywhere in the world, then uses advanced technology to continuously calibrate on-time delivery. Gigster’s customers have experienced a ~90 percent success rate for software projects, versus a historical 70+% failure rate of digital transformation projects (as reported by McKinsey in 2018). They have also been 30% more cost-efficient in delivering projects.

Buyer

Led by a team of seasoned software operators, Ionic Partners acquires 2nd Chasm enterprise software businesses with strong core products and recurring revenue. Ionic creates extraordinary value through a product-led thesis, leveraging a cloud-first global workforce, building elastic infrastructure and business systems, and infusing world-class operating best practices into the daily workflow of their companies.