Scott Technology Valuation Multiples

Cadence Design Systems is a provider of electronic design automation software, intellectual property, and system design and analysis products. EDA software automates and aids in the chip design process, enhancing design accuracy, productivity, and complexity in a full-flow end-to-end solution. Cadence offers a portfolio of design IP, as well as system design and analysis products, which enables system-level analysis and verification solutions.

Founded in 1982, Autodesk is a multinational software company best known for pioneering computer-aided design, or CAD, with its AutoCAD product. Nowadays, Autodesk provides design software for a variety of verticals, including architecture & construction, manufacturing, and media & entertainment. Autodesk products have been used in some of the world's most iconic landmarks, like Burj Khalifa, and well-known movie titles like Avatar.

Constellation Software is an acquirer, manager, and developer of vertical market software, or VMS, businesses globally. VMS differentiates from horizontal software in that it provides mission critical solutions within a specific industry for customers in a particular market. Constellation operates through a decentralized model in which each business operates as its own independent entity. Managers of individual businesses are incentivized to optimize their business for returns on invested capital and revenue growth. Excess cash generated by the individual businesses is repatriated to portfolio managers who focus on allocating as much capital as possible on new acquisitions. As of 2025, Constellation consisted of over 1,000 individual businesses and 64,000 employees.

Dassault Systèmes is a leading provider of computer-assisted design and product lifecycle management software, serving customers like Boeing and Volkswagen throughout the production process. The company’s flagship product, Catia, primarily serves the transportation, industrial equipment, and aerospace and defense industries. In life sciences, Dassault’s Medidata cloud platform optimizes clinical trial efficiency and is the leader in electronic data capture.

Hexagon is the global leader in digital reality solutions, combining hardware such as sensors and measuring devices, software, and services. Customers are mainly in heavy industry, such as oil and gas, mining, construction, manufacturing, chemicals, and agriculture. Major products include measuring technology, mapping tools, and software. Around 40% of revenue is generated in the Americas, 35% in Europe, the Middle East, and Africa, and the rest in Asia.

PTC is a US-based global company that offers high-end computer-assisted design, product lifecycle management, and augmented reality solutions that industrial manufacturers commonly use on factory floors. Founded in 1985, PTC is a major player in parametric design and serves some of the world’s most well-known equipment manufacturers, such as Caterpillar, Garmin, and Thermo Fisher.

Snap-on is a manufacturer of premium tools, equipment, and diagnostics for professional technicians, primarily involved in the repair of passenger cars but having expanded into other industrial applications. The company’s legacy business is selling hand tools through franchisee-operated mobile vans to technicians who purchase the tools at their own expense. The company also operates a commercial and industrial business that is focused on repair facilities serving other industries. The third segment, repair systems and information, targets auto OEMs and large dealerships more directly and also offers substantial diagnostic solutions to aid repairs. The company’s finance arm provides financing to franchisees to run their operations, as well as underwriting end customer purchases.

Bentley Systems is a software vendor that caters to civil engineers, constructors, and geospatial professionals by enabling design, simulation, and data management of infrastructure assets such as roads and bridges. While Bentley is smaller than many other design software companies, it is a market leader across a handful of specialty areas, including public works, electricity grids, and transit.

Procore Technologies Inc is a cloud-based construction management software company. It generates revenue through subscriptions for access to its software products. The company's products include Design Coordination, BIM, Field Productivity, Project Financials, Invoice Management, Portfolio Financials, Capital Planning, Accounting Integrations, and Analytics. The software products are hosted on its cloud-based SaaS construction management platform. Subscriptions are sold for a fixed fee and revenue is recognized ratably over the term of the subscription.

ServiceTitan Inc is an end-to-end technology platform built for contractors to transform the performance of their businesses. The Company’s platform provides business owners, technicians, customer service representatives and other key office staff with technology tools designed to help customers grow revenue, drive operational efficiencies, deliver a superior end-customer experience and monitor key business drivers in real-time. The Company also has subsidiaries in Yerevan, Armenia and British Columbia, Canada that primarily serve as research and development and support centers.

Topicus com Inc is engaged in the development, installation, and customization of vertical market software and the provision of related professional services and support for customers across several diverse markets, mainly in Europe. Its revenue consists mainly of software license fees, maintenance and other recurring fees, professional service fees, and hardware sales. Geographically, the company generates maximum revenue from its business in the Netherlands, and the rest from other markets.

Shanghai Baosight Software Co Ltd is a Chinese software company that develops automation and software tools for various industries. The company operates through three segments: the Software Development and Engineering Services segment, the System Integration segment, and the Service Outsourcing segment. Its operations span across areas such as information technology, industrial automation, robotics, intelligent transportation, and information infrastructure. The company’s offerings are mainly applied in sectors including steel, non-ferrous metals, chemicals, mining, new materials, renewable energy, metalworking, equipment manufacturing, urban transit systems, and infrastructure development.

Octave Intelligence PLC provides a suite of software solutions that help organizations design, build, operate, and protect their physical assets, people, and critical infrastructure. The company operates in a single business segment developing enterprise software used in design, construction, operations, and security. Geographically, it operates in Americas that includes the United States, and Other Americas (Canada, and Latin America); EMIA that includes Europe, Middle East, India, and Africa; and APAC that includes the Asia-Pacific region, excluding India. The company derives maximum revenue from Americas. Its products include: Octave Coda Spatial, Octave Alto Twin, Octave Coda, Octave Oncall, Octave Alto, Octave Imagine, Octave Oncall Dispatch, Octave Alto Lightspeed, and Others.

CCC Intelligent Solutions Holdings Inc is a provider of cloud, mobile, AI, telematics, hyperscale technologies, and applications for the property and casualty insurance economy. The company's SaaS platform connects trading partners, facilitates commerce, and supports mission-critical, AI-enabled digital workflows. It operates in a single segment being Domestic segment, which provides SAAS platform for the P&C insurance economy and derives revenues from providing customers with software subscriptions to the platform in addition to providing professional services and non-software services. The company has its presence in the United States and China. The majority of the revenue is generated from the United States.

Geovis Technology Co Ltd is engaged in provision of digital earth products and technology development services. The technology of remote sensing, geographic information system, satellite positioning and navigation, virtual reality, and other independent research and development of the company digital earth products have a position in the domestic digital earth industry. The company provides software sales and data services, technology development services, digital earth integrated machines and system integration with GEOVIS digital earth products as the core for users in the government, enterprises and special fields.

EquipmentShare.com Inc is a vertically integrated platform that combines proprietary technology, a connected equipment fleet, and a nationwide footprint to serve the construction industry. The company operates its business through the following reportable segments: Equipment Rental and Services Operations, comprised of recurring activity performed at full-service branch locations, such as equipment rentals and related services, and sales of parts, supplies, and maintenance services to construction contractors and others. Equipment Sales, sales of new or used equipment made at any of the branch locations and dealership sites, including equipment sales to participants in the OWN Program.

DHC Software Co Ltd is a China-based software enterprise. It offers software and information technology services. The company is principally engaged in providing Application Development and Maintenance (ADM), Computer Information System Integration and other IT-related services in China.

Bozhon Precision Industry Technology Co Ltd is engaged in the research and development, design, production, sales and technical services of automation equipment, automated flexible production lines, automated key components, and tooling tools.

Inesa Intelligent Tech Inc is an information technology company. It is a cloud computing and big data, business intelligence solutions and products for the core business of specialized information technology services company.

Glodon Co Ltd provides information technology services and solutions to the construction industry. It is engaged in utilizing BIM and digital technologies such as big data, IoT, mobile internet, and industry AI to provide the construction industry with digital building full lifecycle solutions based on specialized applications in the construction engineering field, thus helping the construction industry transform and upgrade. The products and services provided by the company are Architecture Design, Integrated Solution, Infrastructure Design, Integrated Solution, 5D BIM Digital Cost Management Solution, Client-Cloud Big Data Integrated Solution, Digital Construction Solution, and Others.

Harbin Boshi Automation Co Ltd is engaged in manufacturing robots and automated equipment and system solutions in China. The company's main products and services include industrial robots, automated equipment, and system solutions, and provides related value-added services. The products are mainly used in the post-processing of solid materials in petrochemical, coal chemical, salt chemical, fine chemical, fertilizer, metallurgy, logistics, food, feed, and other industries.

Proto Labs Inc is an on-demand manufacturer of custom parts for prototyping and short-run production. The company offers developers and engineers quick-turn production services to reduce the time to market. The Lab uses injection molding, computer numerical control machining, and 3-D printing, and sheet metal to manufacture custom parts for its clients. The company services clients' needs for prototype solutions, parts for testing procedures, bridge production capabilities during disruptions in manufacturing processes, limited-quantity requests, and end-of-life production support. Geographically, a majority of the company's revenue is derived from the United States and the rest from Europe.

KPIT Technologies Ltd is a technology company that provides embedded software for the Automobile and Mobility industry. The company provides solutions for autonomous driving, connected vehicles, vehicle engineering and design, electric and conventional powertrains, and integrated diagnostics. Geographically, the company generates maximum revenue from the United Kingdom and Europe, and the rest from the Americas and the Rest of the world.

Zwsoft Co Ltd (Guangzhou) is a reliable and innovative engineering software provider with its flagship products ZWCAD, ZW3D, and ZWSim.

Vitec Software Group AB is a software company in Vertical Market Software in the Nordic region. The company provides software for the pharmacy market, automotive and machine industry, banks and insurance companies, healthcare companies, real estate agents, and the education sector. Its segments comprise Auto, Energy, Real Estate, Finance and insurance, Environment, Estate Agents, and Education and health.

EFORT Intelligent Robot Co Ltd is a high-tech company focusing on the robotics industry. It is engaged in Research and development, production, and sales of core components, complete machines, and system integration of industrial robots.

Imdex Ltd is a mining technology and earth sciences company that enables customers to safely find, define, and optimise the subsurface with precision, confidence, and at speed. Its product offering includes drilling optimisation products, cloud-connected rock knowledge and geophysical sensors, and data and analytical software. Its products and solutions include Drilling Optimisation, Rock Knowledge, Software, Exploration Solutions, and Production Mining. Its segments are Digital Earth Knowledge and Drill Site Technologies includes three segments involved in the manufacturing and sale/rental of products and services to the mining sector across the following geographical lines: DST Americas, DST Asia Pacific, and DST Europe, Middle East & Africa, with DST Americas generating maximum revenue.

Guangzhou Risong Intelligent Technology Holding Co Ltd is engaged in research and development, manufacturing, application, sales and service in the field of robotics and intelligent manufacturing. The company manufactures industrial robots; industrial automatic control system devices; special equipment for the electronics industry; special equipment for environmental protection; special equipment for electrical machinery; metal structures; metal cutting and welding equipment.

Breton Technology Co Ltd is a China-based provider of electric-powered engineering machinery. It design, develop and commercialize battery-electric engineering machinery with autonomous capabilities and provide intelligent operation services. Breton develops multiple powertrain models, including dual-motor and single-motor series. The dual-motor series powertrain is powerful and suitable for heavy-load, rough terrain, and steep gradient mining scenarios, used in Breton’s electric mining trucks and other heavy-duty products.

GuoChuang Software Co Ltd provides data intelligence products and services. It mainly operates three business segments: digital applications, digital products, and digital operations. The Digital applications segment provides data intelligence industry software products and IT solutions and services to customers in industries such as operators, energy, transportation, government, and enterprises. The Digital products segment is engaged in developing and applying Battery Management Systems, energy storage BEMS, smart energy storage systems, assisted driving and autonomous driving domain controllers, and other integrated hardware and software data intelligent products; and the Digital operations segment builds and operates a smart logistics cloud platform.

Qt Group PLC is engaged in the development, commercialization, and licensing of the Qt software framework under commercial and open-source licenses. It is used for developing cross-platform applications and graphical user interfaces for desktops, embedded systems, and mobile devices. The group reports one business segment that provides its customers with software development tools. This technology is used in various devices and applications, including consumer electronics, vehicles, airplanes, and industrial automation applications. Geographically, it has a presence in Finland, the Rest of Europe, APAC, and North America. It derives revenue from License sales and consulting, and others.

PSI Software SE is a software producer in process control and information systems. Its core business consists of process control and information systems for managing energy and material flows in industries tailored to the electricity, gas, oil, and district heating sectors, engineering, automobile, and automotive supply and logistics sectors. The company's segments include Energy Management, which offers intelligent solutions for utility companies in the electricity, gas, oil, and water sectors; the Production Management segment provides solutions for planning and controlling production processes in metals production, logistics, mechanical engineering, and automotive manufacturing. It generates maximum revenue from the Energy Management segment.

Shenzhen Tianyuan Dic Information Technology Co Ltd is a China-based integrated internet and big data solutions provider. It is developing advanced technologies such as cloud computing, big data, artificial intelligence, and the Internet of Things. The business areas to which the company offers are platform products, Telecommunications, Finance, Government and other industries.

ZUKEN Inc is a Japanese based company specializing in software and consulting services for electrical and electronic engineering. It is engaged in research and development of a variety of software solutions that support the optimization of product design and engineering operations for manufacturing industries, and marketing of the software solutions with consulting services. It has market presence in Japan, Europe, Asia, and North America. It offers various products including electronic design, automotive design, electrical and control cable design, design data management and product lifecycle management.

Shenzhen Sunwin Intelligent Co Ltd is a China-based company engaged in the provision of intelligent systems solutions. The company offers intelligent systems solutions in railway transportation, house construction, and energy-efficient lighting industries. The business of the company covers four sectors, smart city, big data, artificial intelligence, and cultural and education. The business scope in the field of artificial intelligence mainly includes service robots, unmanned aerial vehicle, face recognition, smart video analysis systems, and others.

Jiangxi Tianli Technology Inc formerly Beijing Tianli Mobile Service Integration Inc provides mobile application solutions and personal mobile information services. Its mobile information service is mainly to provide mobile information application solutions for large and medium-sized group customers in China, covering customized development, business integration, operation support and customer relationship management services, and ultimately assisting group customers to provide SMS messages to their customers.

Hansen is a technology company providing software and services to the energy and utilities, and communications sectors throughout the developed world. Hansen’s products primarily relate to billings and adjacent functions, such as customer quotes, order capture, customer data management, and customer service. Additionally, Hansen has products assisting companies with developing new products, fulfilling orders, and managing various other operational processes.

Chrysos Corp Ltd is an Australian-based provider of novel assay services to the international mining industry through its proprietary PhotonAssay technology. The company's flagship product, PhotonAssay, delivers accurate and environmentally friendly analysis of gold, silver, and complementary elements. The Group has three reportable segments, namely, EMEA, APAC, and the Americas, where the majority of revenue is generated from Australia. The Group generates revenue mainly from the deployment of PhotonAssay units with its customers.

Hebei Gongda Keya Technology Group Co Ltd is engaged in the research and development, promotion and application of heating energy-saving products and related technical services to provide a one-stop comprehensive solution for smart heating.

Zhengzhou Jiean Hi-tech Co Ltd formerly, Zhengzhou J&T Hi-Tech Co Ltd is engaged in the development of multimedia technology and the application of three-dimensional digital virtual simulation technology in various industries. The company provides systematic professional virtual reality simulation design and training solutions, software development, system integration, microcomputer measurement and control and other multi-directional services.

AsiaInfo Technologies Ltd is a provider of telecom software products and related services. The company's product portfolio currently consists of CRM, charging & billing, and big data products to IoT and intelligent network products. Its software products are deployed using an on-premises, project-based delivery model, and are accompanied by end-to-end, professional deployment services. The Company's revenue is principally generated from project-based software development contracts, under which the Group develops software products and provides services at fixed prices and or variable prices.

Nanjing TDH Technology Co Ltd specializes in the research and development of judicial information systems and information technology services. The company provides information construction in the field of e-government for clients such as courts.

Shanghai Information2 Software Inc is a technology company focusing on disaster recovery and business applications. The company provides real-time data replication and continuous data protection technology to provide continuous protection and rapid recovery for all kinds of key businesses in the physical, virtual or cloud computing platforms.

Kernex Microsystems (India) Ltd is an India based company engaged in the manufacture and sale of Safety Systems and Software services for Railways. The company is in the business of designing, developing, and deployment of Train Collision Avoidance Systems in Indian Railways, and successfully completing the installation of automatic and semi-automatic Railway Gates. It offers products which include LxGuard, TrainSHIELD, SAFELx, SENTINEX, CASRY, KMDAX, ATRW, KTPIS, and BCPS2440. Geographically, it generates the majority of its revenue within India.

Beijing Longruan Technologies Inc is engaged in development and sale of software products, custom software, and provide technical services. The company provides technology development; basic software services; application software services; computer system services; data processing; sales of computers, software and auxiliary equipment, and communication equipment.

Hanyang Eng Co Ltd is engaged in the construction business. It offers construction of information technology facilities, industrial facilities, biopharmaceutical facilities, solar polysilicon production equipment, nuclear and aerospace facilities and others. It also manufactures and installs central chemical supply systems (CCSSs) and total chemical management systems (TCMS), which are used in semiconductors, displays, solar energy facilities and others.

Polaris Holdings Co Ltd is a Japan-based company. It has two business segments. The Real Estate segment is involved in the leasing, buying, selling, and development of real estate; The Hotel segment deals with hotel management, consulting, and franchising. Some of its hotels include Best Western Hotels, Value The Hotel, Kinuura Grand Hotel, and KOKO Hotels.

SmartCraft ASA is a software company that provides modern SaaS solutions to help craftsmen and construction companies become more efficient and profitable. Geographically, it operates in Norway, Sweden, Finland, and UK.