Beta Systems Software - FY22 guidance increased
Beta Systems, a software provider for data centre intelligence and identity access management, reported FY21 EBITDA in line with guidance and raised its FY22 guidance. This was partly driven by new client wins and higher sales at existing clients. As a niche player in a sector dominated by giants such as IBM and VMWare, Beta Systems trades at a 37% discount to peers on a guided FY22e EV/EBITDA basis. The discount has decreased from 54% in our last note due to a sharp rise in the share price.Beta Systems Software AG provides identity and access management (IAM) and data center intelligence solutions. The Company offers software products and information technology (IT) solutions. The Company is engaged in supporting financial services, production, commerce and IT services companies. The Company's IAM solutions provide combined governance and analytics applications. The Company develops identity governance and administration (IGA) solutions that address the needs of mid-sized and large companies. The Company's IAM solution dashboards enable customers with risk indicators to determine the activities, which are necessary to meet regulatory IT compliance provisions. The Company's Data Center Intelligence solutions provide data centers with tools that support IT production environment. The Company's software products automate, document and analyze IT processes in data centers and access control workflows.
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