Global Software Undervalued over 20% based on DCF

Saison Technology

Market Cap: JP¥37.6b

Engages in the system development and operation, and software package businesses in Japan.

Streamwide

Market Cap: €199.5m

Designs, develops, markets, and maintains a set of service software for mobiles and telecommunication operators worldwide.

8x8

Market Cap: US$232.7m

Provides contact center, voice, video, chat, and enterprise-class application programmable interface (API) solutions worldwide.

Allgeier

Market Cap: €195.0m

Provides information technology (IT) solutions and software services in Germany.

RADCOM

Market Cap: US$210.3m

Provides cloud-native and 5G-ready network intelligence solutions for communication service providers (CSPs).

Soliton Systems K.K

Market Cap: JP¥32.8b

Engages in the development and sale of IT security-related products in Japan, the United States, and internationally.

Core

Market Cap: JP¥32.7b

Provides information and communication technology services in Japan.

Info-Tech Systems

Market Cap: S$260.6m

Engages in the sale of cloud-based accounting software and human resource management software (HRMS) in Malaysia, and Singapore.

Densan System Holdings

Market Cap: JP¥32.1b

Provides information and collection agency services in Japan.

Hinduja Global Solutions

Market Cap: ₹18.5b

Provides business process management services in the United States, Canada, the United Kingdom, Europe, India, Philippines, and internationally.

ID Holdings

Market Cap: JP¥31.9b

Provides information technology (IT) services in Japan.

cBrain

Market Cap: DKK 1.3b

A software company, provides software solutions for government, private, education, and non-profit sectors in Denmark, the European Union, and internationally.

Crexendo

Market Cap: US$198.8m

Provides cloud communication platform software and unified communications as a service in the United States and internationally.

Business Brain Showa-Ota

Market Cap: JP¥31.0b

Provides consulting and systems development, and business management services in Japan.

Information Services Group

Market Cap: US$194.0m

Operates as an artificial intelligence (AI) centered technology research and advisory company in the Americas, Europe, and the Asia Pacific.

DUG Technology

Market Cap: AU$271.0m

A technology company, provides hardware and software solutions for the technology and resource sectors in Australia, the United States, the United Kingdom, Malaysia, and the United Arab Emirates.

Cloud Factory Technology Holdings

Market Cap: HK$1.5b

Provides Internet data center solutions (IDC) and information communications technology (ICT) services in the People’s Republic of China.

Hennge K.K

Market Cap: JP¥29.6b

Provides cloud security services worldwide.

ULS Group

Market Cap: JP¥29.5b

Provides consulting and contract development services related to information systems in Japan.

Wasko

Market Cap: zł652.9m

Designs, implements, and integrats software, information systems, and advanced industrial automation.

Digia Oyj

Market Cap: €150.0m

Operates as a software and service company in Finland, Sweden, and internationally.

Axelerated Solutions for Information and Communication Technology

Market Cap: ر.س658.0m

Provides IT solutions in the Kingdom of Saudi Arabia.

Digital Information Technologies

Market Cap: JP¥27.5b

Operates as an information services company.

Aptitude Software Group

Market Cap: UK£128.1m

Provides financial management software in the United Kingdom and internationally.

Infomina Berhad

Market Cap: RM 667.4m

An investment holding company, provides technology application and infrastructure solutions in Malaysia, Singapore, Thailand, Philippines, Indonesia, and Japan.

Perfect

Market Cap: US$167.0m

An artificial intelligence software as a service company, provides artificial intelligence (AI)- and augmented reality (AR)-powered solutions for beauty, fashion, and skincare industries worldwide.

Kaltura

Market Cap: US$166.6m

Provides various software-as-a-service (SaaS) products and solutions and a platform-as-a-service (PaaS) in the United States, Europe, the Middle East, Africa, and internationally.

Magellanic Cloud

Market Cap: ₹15.4b

An IT service organization, provides a robust portfolio of cutting-edge digital and IT-enabled services.

Startia HoldingsInc

Market Cap: JP¥26.3b

Engages in the IT business in Japan and internationally.

Consort NT Société anonyme

Market Cap: €140.9m

Provides a platform of skills and manages services to protect IT and information assets.

Nippon Information Development

Market Cap: JP¥25.2b

Offers information technology solutions in Japan and internationally.

Intellicheck

Market Cap: US$158.5m

A technology company, provides on-demand digital identity validation solutions for KYC, fraud, and age verification needs in North America.

Cint Group

Market Cap: SEK 1.4b

Provides software solutions for digital insights and research technology worldwide.

NCS&A

Market Cap: JP¥24.6b

Provides various IT services in Japan.

Wrkr

Market Cap: AU$217.9m

Provides software as a service to solve compliance needs for companies to process pay, superannuation and SMSF contributions, onboard new staff and contractors, and check credentials of new employees and contractors in Australia.

Serviceware

Market Cap: €130.7m

Provides a portfolio of software solutions for the digitalization and automation of service processes in Germany, Austria, Switzerland, and internationally.