Ask HN: Where can I buy real software companies?
I sold Bingo Card Creator through FEI (<a href="http://feinternational.com" rel="nofollow">http://feinternational.com</a>) and have nothing but good things to say about them.  Something like 20% of their listings are SaaS businesses.  The going rate for a SaaS business is roughly 3X yearly SDC ("seller discretionary cashflow" -- revenue minus costs <i>required</i> to run the business as opposed to e.g. the owner's salary, distributions, interest expense, etc).  It is closer to 2X for software businesses where the revenue is not by-nature recurring.  (Naturally, these are guidelines -- businesses are, like all things, priced at where a buyer and a seller can mutually agree, and certain factors can make buyers very agreeable.)