Global Software Potentially Undervalued Small Caps

CENIT

Market Cap: €52.7m

Provides software solutions and associated software consulting and integration services.

INTERSHOP Communications

Market Cap: €18.6m

Offers ecommerce solutions in Germany, rest of Europe, and internationally.

WidePoint

Market Cap: US$47.1m

Provides technology management as a service (TMaaS) to the government and business enterprises in the United States and Europe.

Witted Megacorp Oyj

Market Cap: €21.0m

Develops and sells software development solutions in Finland and internationally.

Nextedia

Market Cap: €13.3m

Provides cybersecurity, cloud and digital workspace, and customer experience solutions in France.

Vantea SMART

Market Cap: €9.8m

An Information Technology company, engages in the provision of cybersecurity solutions and services in Italy.

NTG Clarity Networks

Market Cap: CA$47.4m

Provides network, telecom, IT, and infrastructure solutions to medium and large network service providers in Canada, North America, Iraq, Saudi Arabia, Egypt, and Oman.

Smith Micro Software

Market Cap: US$18.5m

Develops and sells software solutions to simplify and enhance the mobile experience to wireless and cable service providers in the Americas, Europe, the Middle East, and Africa.

SHINKO

Market Cap: JP¥4.1b

Provides maintenance services, IT solutions, and human resource services in Japan.

FLECT

Market Cap: JP¥5.5b

Engages in the provision of multi-cloud integration services for digital transformation in Japan.

Avensia

Market Cap: SEK 258.4m

Provides e-commerce solutions in Sweden.

Generic Sweden

Market Cap: SEK 436.4m

A technology company, provides messaging services for all applications.

Bilot Oyj

Market Cap: €23.2m

Bilot Oyj, a software and IT service company, provides digital services and solutions in Finland.

TPXimpact Holdings

Market Cap: UK£29.9m

Provides digital native technology services in the United Kingdom, Switzerland, and internationally.

Upsales Technology

Market Cap: SEK 351.9m

Operates as a software-as-a-service company that develops and sells web-based business systems with a focus on sales, marketing, and analysis in Sweden and internationally.

B+S Banksysteme

Market Cap: €11.9m

Provides software solutions for banks and financial service providers.

Netum Group Oyj

Market Cap: €13.8m

Operates as an IT services company in Finland.

Vincit Oyj

Market Cap: €20.6m

Provides service design and software development services in Finland, and internationally.

GMO Pepabo

Market Cap: JP¥9.6b

Provides internet services in Japan.

Janison Education Group

Market Cap: AU$27.3m

Provides online assessment software, assessment products, and assessment services in Australia, New Zealand, Asia, and internationally.

Arcontech Group

Market Cap: UK£9.8m

Engages in the development and sale of proprietary software in the United Kingdom, rest of Europe, Africa, North America, Australasia, and the Asia Pacific.

Exasol

Market Cap: €51.8m

A technology company, engages in the provision of an analytics engine to access and analyze a company’s data in Germany, Austria, Switzerland, Europe, the United Kingdom, and the United States.

Celebrus Technologies

Market Cap: UK£35.5m

Operates a digital identity and data platform in the United Kingdom, rest of Europe, the United States, and internationally.

NAGA Group

Market Cap: €32.2m

Develops and offers fintech products and services in Latin America, the Middle East, North Africa, and Southeast Asia.

LeadDesk Oyj

Market Cap: €23.9m

Provides provides cloud-based contact center for sales outreach and customer service in Finland.

Inuvo

Market Cap: US$30.9m

An advertising technology and services company, develops and commercializes large language generative artificial intelligence that discovers and targets digital audiences in the United States.

Integrated Research

Market Cap: AU$54.2m

Designs, develops, implements, and sells software for business-critical computing, unified communication, and payment networks.

IT Link

Market Cap: €26.8m

Develops connected products and business solutions in France.

Tribe Property Technologies

Market Cap: CA$12.0m

Provides technology-enabled property management services.

EPX

Market Cap: AU$16.8m

Provides building energy management solutions for commercial real estate in Australia, Asia, the United Kingdom, and the Middle East.

Webstep

Market Cap: NOK 481.7m

Provides information technology (IT) consultancy services to public and private businesses in Norway and Sweden.

Prologue

Market Cap: €22.4m

A technology company, engages in the provision of software publishing and IT services for large and medium-sized businesses in France, Spain, the United States, and Latin America.

Shearwater Group

Market Cap: UK£9.3m

Provides cyber security, managed security, and professional advisory solutions for corporate clients in the United Kingdom, rest of Europe, North America, and internationally.

Zoomd Technologies

Market Cap: CA$88.7m

Operates as a marketing technology user-acquisition and engagement platform worldwide.

ItcenentecLtd

Market Cap: ₩71.2b

Engages in the system integration business in South Korea.

Reckon

Market Cap: AU$54.9m

Provides software solutions in Australia, New Zealand, the United States, and internationally.