Lviv-based software development company TechMagic has acquired CCTV Design Tool, a B2B SaaS platform for designing video surveillance systems used by installers and integrators in more than 75 countries. The transaction value has not been officially disclosed, although the parties estimate it at $500,000–700,000.
TechMagic disclosed the acquisition to Forbes Ukraine. The purchase will form the basis of the company’s new Venture Builder business line, through which TechMagic plans to launch and scale its own B2B SaaS products.
CCTV Design Tool is a browser-based platform for designing video surveillance systems. The service allows users to develop system configurations, model camera coverage areas in real time and prepare commercial proposals for corporate customers.
According to TechMagic, more than 2,000 companies in over 75 countries use paid licenses for CCTV Design Tool. The product operates on a freemium model, with basic functionality available free of charge and a share of users upgrading to paid subscriptions.
TechMagic plans to use the product’s existing customer base and proven business model to drive further growth. The company intends to develop the platform using its expertise in software engineering, artificial intelligence, design and B2B marketing.
“We deliberately decided to acquire a profitable business with a proven business model and scale it,” said TechMagic co-founder Andrii Kuzmych.
One of the priorities following the acquisition will be the development of the enterprise segment, targeting large corporate customers. TechMagic also plans to expand partnerships with manufacturers and suppliers of video surveillance equipment, which could increase the number of user acquisition channels and commercial opportunities for the platform.
The acquisition of CCTV Design Tool effectively marks TechMagic’s transition from an exclusively service-based model to a strategy focused on acquiring, developing and scaling proprietary technology products. Through its Venture Builder unit, the company plans to work with B2B SaaS solutions that already demonstrate proven demand and a sustainable business model.
TechMagic is a full-cycle software development company founded in Lviv in 2014 by Oleh Dats, Lidiia Dats and Andrii Kuzmych. The company delivers projects in healthtech and fintech and also specializes in AWS cloud infrastructure, cybersecurity and Salesforce-based solutions.
The acquisition of CCTV Design Tool will allow TechMagic to expand its presence in the international B2B SaaS market while establishing a new business line focused not on custom software development, but on owning and scaling proprietary digital products.
