CODASciSys drives East
No sleep till Budapest
CODASciSys is spending upto €2.4m buying its Hungarian and German distributors.
The UK-based software and services group is paying €0.75m upfront for its Hungarian partner, Singular Hungary, with another &0.25;m based on future profitability. The Hungarian business will be redubbed CODA Hungary, and serve Central and Eastern Europe.
CODASciSys has also snaffled up Landsberg-based bAs GmbH for €0.4m upfront with another €1m based on profitability in 2006 and 2007. CODASciSys already has an office in Essen.
The two new businesses should boost CODASciSys’ revenues by £1.5m this year, the firm said.®