Global Tech Potentially Undervalued Small Caps

Icape Holding

Market Cap: €42.7m

Engages in the manufacture, distribution, and sale of printed circuit boards (PCBs) and customized technical parts worldwide.

AVA Risk Group

Market Cap: AU$16.6m

Provides risk management technologies in Australia, Europe, Asia Pacific, India, Middle East, North Africa, the United States, and internationally.

VNE

Market Cap: €7.8m

Provides technology and devices for the management of banknotes, coins, and payments and transactions through cash and cashless systems in Italy.

Archos

Market Cap: €10.9m

Manufactures and sells consumer electronics in France.

Qualisys Holding

Market Cap: SEK 494.0m

Provides precision motion capture and 3D positioning tracking systems in Europe, the Middle East, Africa, the United States, and the Asia-Pacific.

nForce Secure

Market Cap: ฿1.2b

Operates as a specialty distributor of IT security, information management, network solutions, and cloud security in Thailand.

Cellularline

Market Cap: €47.9m

Manufactures and sells accessories for smartphones and tablets in Italy, Spain, Portugal, Germany, Eastern Europe, Switzerland, Benelux, Northern Europe, France, Great Britain, the Middle East, North America, and internationally.

InTiCa Systems

Market Cap: €8.6m

Develops, produces, and markets inductive components and systems, passive analog circuit technology, and mechatronic assemblies in Germany and internationally.

Nordic LEVEL Group AB (publ.)

Market Cap: SEK 116.0m

Provides safety and security solutions primarily in Sweden.

Pyramid

Market Cap: €8.4m

Engages in the development and manufacture of information technology solutions for the retail, financial, and industrial market.

Rubicon Water

Market Cap: AU$34.9m

Designs, manufactures, installs, and maintains irrigation automation software and hardware in Australia, New Zealand, Asia, and internationally.

Applicad

Market Cap: ฿767.2m

Engages in the sale of computer programs primarily in Thailand and Indonesia.

Salora International

Market Cap: ₹277.5m

Engages in the manufacture, distribution, and marketing of consumer electronics primarily under Salora brand in India and internationally.

Oi Electric

Market Cap: JP¥7.1b

Provides information and communication equipment and related services for social infrastructure in Japan.

Pulstec Industrial

Market Cap: JP¥2.9b

Manufactures and sells electronic applied equipment and systems in Japan, Asia, Europe, North America, Africa, and internationally.

Ikegami Tsushinki

Market Cap: JP¥5.3b

Engages in the provision of broadcast equipment in Japan and internationally.

i-Components

Market Cap: ₩36.7b

Produces and sells barrier and optical plastic films, and substrates in South Korea.

Shinden Hightex

Market Cap: JP¥5.2b

Sells semiconductor products and electronic components primarily in Japan.

GSS Energy

Market Cap: S$11.7m

An investment holding company, engages in the precision engineering business in Singapore, Indonesia, China, Thailand, and internationally.

Serial Achieva

Market Cap: S$23.8m

An investment holding company, operates as a distributor and marketer of consumer and enterprise IT products in Malaysia, Thailand, and Singapore.

Cofidur

Market Cap: €11.0m

Engages in electronics subcontracting business in France.

Robot

Market Cap: €10.7m

A technology company, designs, manufactures, installs, and maintains systems for the automation and control of technical installations of buildings and the savings in Spain and internationally.

Toyo Electric

Market Cap: JP¥3.3b

Manufactures and sells control devices for the factory-automation industry in Japan.

EIKEI Group (Cayman)

Market Cap: NT$1.6b

Designs, manufactures, and sells printed circuit board (PCB) products in Taiwan and internationally.

NextgenInc

Market Cap: JP¥3.1b

Provides telecommunication, session initiation protocol (SIP)/VoIP security, and enterprise solutions in Japan.

StrongPoint

Market Cap: NOK 461.1m

Engages in the development, sale, and implementation of integrated technology solutions to retailers in Scandinavia and internationally.

TransAct Technologies

Market Cap: US$34.8m

Designs, develops, and markets transaction-based and specialty printers and terminals in the United States and internationally.

Munic

Market Cap: €5.2m

MUNIC S.A. operates as a vehicle data collection, processing, and monetization company in Europe and North America.

TagMaster

Market Cap: SEK 395.5m

An application driven technology company, designs and markets advanced sensor systems and solutions based on radio, radar, vision, and wireless magnetic technology under the TagMaster, Sensys Networks, Citilog, and Quercus brand names.

Autoscope Technologies

Market Cap: US$30.3m

Develops and markets video and radar processing products for use in intersection control, highway, bridge and tunnel traffic management, and traffic data collection applications in the Asia, Europe, the Middle East, and North America.

IMLtd

Market Cap: ₩5.1b

Engages in the manufacture and sale of mobile phone camera parts in South Korea.

Willas-Array Electronics (Holdings)

Market Cap: S$80.3m

An investment holding company, distributes and trades in electronic components for industrial, audio and video, telecommunication, home appliances, lighting, electronic manufacturing, and automotive markets.

S4E

Market Cap: zł65.3m

Engages in the provision of hardware and software, data processing, and hardware consulting services in Poland.

Humax

Market Cap: ₩31.1b

Engages in the gateway, automotive electronics, and digital solution businesses in South Korea and internationally.

Yw

Market Cap: ₩35.0b

Develops, supplies, and installs wired and wireless communication equipment in Japan, China, and Indonesia.

PRO FX Tech

Market Cap: ₹1.2b

Distributes audio-video (AV) products in India.