SnapSoft

Navigating Success: A Strategic Alliance Story

They say, “The sky's the limit only for those who aren't afraid to fly!” – and SnapSoft embodies this spirit. With plenty of fuel in their tank, they embarked on a strategic investment agreement with NearSummit Capital earlier this year, advised by Absolvo in the transaction process.  

SnapSoft – the HUNgry spaceship in the clouds

SnapSoft is a cloud-based development company and Amazon Web Services (AWS) Advanced Tier Partner. They provide end-to-end services, covering everything from the data layer and the web/mobile apps to DevOps and hosting services. Whether clients require AWS migration, application modernization, or integration of transformative GenAI technologies, SnapSoft is dedicated to supporting them throughout their journey.

Their AWS Advanced Tier status reflects deep technical expertise and a commitment to delivering high-quality solutions to businesses of all sizes. The company has also earned recognition on Deloitte's "CE Fast 50" list of the fastest-growing technology companies in Central European and as an Impact Star, which is a special classification of entities which successfully link great products/services with a positive impact on at least one of the following: society, business, innovativeness, environment and diversity.

If that isn't convincing enough, consider their impressive track record: zero resignations since their establishment in 2016. This speaks volumes about their commitment and company culture. Our collaboration during the deal process thrived because of their unwavering professionalism and expertise in their field, coupled with their strong culture rooted in partnership. This was evident in every step of our journey together.

NearSummit Capital – bringing the sky closer from across the Atlantic

NearSummit Capital (NSC), a US-based investor, brought invaluable insights and resources to SnapSoft’s growth journey. NSC specializes in scaling businesses and assembling high-performing sales and engineering teams.

As part of the deal, Brandon Kissinger – Founder of NSC and former Principal at AWS – took on the role of Executive Chairman at SnapSoft US, overseeing the company's vision, growth, and performance, and ensuring the delivery of high-quality and scalable solutions to customers. Brandon’s agile leadership and deep industry knowledge were instrumental in swiftly navigating the investment process, ensuring strategic alignment and maximizing potential.

Absolvo – fuelling growth with expertise

At Absolvo, we believe in the growing demand for advancing game-changing technology and disruptive products, which is why we specialize in providing tailored solutions in growth financing, mergers & acquisitions, and international growth strategies for market-leading scale-ups in the Central Eastern European region. With over 20 years of unparalleled expertise and nearly 200 successfully closed deals, we are committed to driving innovation and growth.

We could work well with SnapSoft from the moment we shook hands with them. Why? They possessed a clear vision of their values and needs, and they embraced our objective viewpoints during critical moments. This is where we came in. Our role extended from structuring the deal across US and Hungarian jurisdictions to supporting the negotiation of economic terms, drafting agreements, and coordinating legal and tax considerations with the respective advisors, lawyers.  

AWS - clear skies ahead for innovation

As of mid-2024, AWS continues to dominate the cloud computing and Infrastructure as a Service (IaaS) markets, capturing over 50.1% market share. According to HG Insights, AWS's customer acquisition growth rate of 31% is the highest among global cloud providers, underscoring its pivotal role in the evolving cloud landscape.

The cloud applications market has surged by 252% over the last five years, highlighting a growing preference for scalable and flexible cloud solutions. With the IaaS market valued at over $150 billion, AWS remains a beacon of innovation, supporting businesses worldwide with reliable cloud infrastructure and promises a great (future) environment for SnapSoft’s and NSC’s joint venture.  

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What is our take on it?

This joint venture agreement between SnapSoft and NSC is a good example of what can be achieved when visionary leadership, technical expertise, and strategic deal advisory come together.  

With the unwavering commitment of both parties, this joint venture is set to reach new heights, driving innovation and delivering exceptional value to clients worldwide.  

At Absolvo, we are proud to be a part of this journey, from structuring the deal to navigating the transactional complexities of the agreement. As we continue to support such transformative collaborations, we remain dedicated to fostering growth and success in the tech industry.

Sources:  

https://hginsights.com/blog/aws-market-report-buyer-landscape  

https://hginsights.com/market-reports/2023-iaas-market-report  

https://snapsoft.io/

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