Ask HN: Where can I buy real software companies?
I sold Bingo Card Creator through FEI (http://feinternational.com) 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 required 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.)