This marine software company develops and markets an industry leading software suite. The software is sold across the globe and utilized across several industries including government, academia, and private industry.
The software is sold to new customers by the Company’s sales representatives along with a network of independent resellers and strategic partners. The software is sold through individual licenses but has an ever-growing recurring revenue base through lease and maintenance agreements. All applications and pricing are standardized and designed to fit every customer without customization, but the Company will customize packages for certain customers. The customer count for 2023 was over 550 customers.
Mariana is characterized by its small and nimble workforce that can prioritize customer service and provide timely solutions to any issues the customer may be facing. Additionally, this allows the team to implement new features and innovation quicker than the competition; Mariana has a history of being the first to market with many innovative features since its inception, and it is on the verge of releasing its latest software version that implements a disruptive industry-first AI-powered analysis tool.
The Company is poised for additional growth through expanding its current strategic partnerships, implementing more AI-powered industry 4.0 features, marketing its software to additional ancillary markets, and converting its sales process to a SaaS model.
The Company is run by a general manager and ownership is passive. Ownership can be flexible regarding transaction structure and plans with their involvement in the Company following a sale; however, ownership is seeking to exit entirely after a standard transition period.