PROJECT PHENOMENA - GET IPO EXIT VALUATION

COG is managing an emerging market focusing exit platform, ‘Phenomena’ (LSE ticker PHMN) for independent IT outsourcing companies. The Phenomena is a $250M revenue collective-IPO vehicle that gathers mid-market IT outsourcing players under one publicly listed group entity.
img-01
GROWTH​
The software development market in CIS countries grows x4-5 faster than globally.​
img-02
CONSOLIDATION​
The emerging market is fragmented, with around 1000 potential targets, which have +10M€ in revenue.​
img-03
DEMAND​
LATAM R&D delivery centers are providing the same time zone for US clients.
CIS IT outsourcing grows much faster than the global average: 20-25% y-o-y vs. 5% globally.

RATIONALITY

"Entrepreneurs will get IPO valuation with 15-20x EBITDA multiplier with specific valuation formulas for high-growth and EBITDA optimized companies."