The custom software development industry has grown substantially over the last few years given the trend of increased digital penetration in to our daily lives. Mobile devices continue to influence us all to a growing degree with each individual now owning a number of connected connected devices (mobile phones, tablets, laptops, smart speakers, etc.). Alongside the proliferation of connected devices, we have seen an explosion of custom software solutions to meet increasing consumer and business demands. M&A in the custom software space is competitive as larger firms seek to acquire the latest “hot” item or talent pool. Importantly, we believe software development will likely prove resilient in the event of a macro downturn given the ROI achieved through technology and software efficiencies.