Sovereign Systems
THE CHALLENGE
Sovereign Systems helps transform legacy data center technologies and applications into ultra-efficient, cloud-based platforms. They needed multi-level finance/accounting leadership and expertise with the ability to operationalize ideas.
THE SITUATION
Sovereign Systems needed on-demand financial
expertise and guidance through transformational initiatives.
TECHCXO INTERVENTION
Engaged TechCXO in 2013 to operate as a fully outsourced finance/accounting department. Leveraging CFO Partner and Controller resources, TechCXO implemented its best practice processes, methodologies and systems to support Sovereign Systems through a multi-year growth plan.
TechCXO led multiple strategic initiatives for Sovereign Systems including: spinning out its SaaS business from services business whereby increasing total enterprise value by 3x with little change to combined financial metrics, sourcing of $1,500,000 of R&D tax credits over 5 years, sell side M&A prep for eventual exit and term sheet and net working capital negotiations.
THE OUTCOME
Sovereign Systems was acquired by Ahead in 2019.
“TechCXO was introduced to us midway through our 10 year business lifecycle. We wish we would have known of them earlier. Jason was an invaluable strategic advisor throughout our business transformation and eventual successful exit.”
George Barkley, Managing Partner
Sovereign Systems
