Software Factory (also informally referred as “The GREEN”) – the software production facility aiming to bring highly efficient and standardized approaches to SW development which is, maybe surprisingly, still a very artisanal / handicraft practice and business despite it’s a very bid industry. Given it’s enabling role for the success of the overall Lancia Capital conglomerate business, it is run by ICOD SYSTEMS S.L., the purposedly dedicated legal entity launched in Tenerife (Canary Islands) and inheriting the 30 years long experience of the Key People in managing offshore software development teams remotely worldwide. Canary Islands have been chosen for their business friendliness, happy life and geographic position which is a combined triple capable to make them one of the most promising hub for innovation in the world. ICOD SYSTEMS plays two strategic roles within the Lancia Capital conglomerate business: on one side it is the dedicated captive supplier of CRATILYS for the development and maintenance of the Platform Product, on the other it is the preferred Value-Added Reseller of and provider of solutions based on CRATILYS Platfome Product. Since we’ve realized it is not easy to set up in a short time from scratch an army of top-notch coders in Canary Islands, ICOD SYSTEMS has set up a Joint Venture in India to give rise to an offshore production facility capable to fullfill the production requirements and address the AsiaPac market for sales development. Meanwhile it has conceived an aggressive training and partnership program with Canarian univerisities and research center that is going to be launched to develop local talents and expand its reach in Western Africa to cultivate local young talents avoiding them to immigrate in EU in search for too low profile jobs.

Being a Professional Services company, ICOD SYSTEMS valuation is a multiple of its positive EBITDA given by margins over the sales of end-to-end solutions to the clients. By the way, ICOD SYSTEMS is expected to contribute to  CRATILYS valuation heavily by reselling Product Platforms licenses indirectly.