Global Software Undervalued Small Caps

Atea

Market Cap: NOK 17.3b

Provides IT infrastructure and related solutions for businesses and public sector organizations in the Nordic countries and Baltic regions.

R Systems International

Market Cap: ₹48.1b

A digital product engineering company, designs and builds chip-to-cloud software products and platforms.

Karooooo

Market Cap: US$1.5b

Provides a mobility software-as-a-service (SaaS) platform for connected vehicles in South Africa, the rest of Africa, Europe, the Asia-Pacific, the Middle East, and the United States.

Gofore Oyj

Market Cap: €215.4m

Provides digital transformation consultancy services for private and public sectors in Finland and internationally.

Micro Systemation

Market Cap: SEK 1.1b

Provides forensic technology for mobile device examination and analysis in Sweden and internationally.

Sansan

Market Cap: JP¥224.9b

Engages in the planning, development, and selling of cloud-based solutions in Japan.

TXT e-solutions

Market Cap: €396.8m

Provides software and service solutions in Italy and internationally.

Startia HoldingsInc

Market Cap: JP¥26.5b

Engages in the IT business in Japan and internationally.

SHIFT

Market Cap: JP¥266.3b

Provides software quality assurance and testing solutions in Japan.

Bouvet

Market Cap: NOK 6.3b

Provides IT and digital communication consultancy services for public and private sectors in Norway, Sweden, and internationally.

Ramco Systems

Market Cap: ₹21.5b

Operates as an enterprise software company in the United States, Europe, the Asia-Pacific, India, and the Middle East, and Africa.

Info-Tech Systems

Market Cap: S$203.1m

Designs and develops cloud human resource management (HRMS) and accounting software.

Cerillion

Market Cap: UK£354.0m

Provides software for billing, charging, and customer relationship management (CRM) to the telecommunications sector in the United Kingdom, Europe, the Middle East, the Americas, and the Asia Pacific.

TSS

Market Cap: US$215.2m

Engages in the planning, design, deployment, maintenance, refresh, and take-back of end-user and enterprise systems in the United States.

Lime Technologies

Market Cap: SEK 3.8b

Provides software as a service (SaaS) based customer relationship management (CRM) solutions in the Nordic region.

Fabasoft

Market Cap: €170.4m

Provides software products and cloud services for digital document, process, and file management in Austria, Germany, Switzerland, and internationally.

Vitec Software Group

Market Cap: SEK 12.1b

Develops and delivers vertical market software solutions in Sweden, Denmark, Finland, Norway, the Netherlands, the United States, and internationally.