Software engineering and consulting company Exadel, backed by private equity firm Sun Capital Partners, has acquired software development and consulting services company Codete for an undisclosed sum.
This is technology M&A deal number 963 that ChannelE2E has covered so far in 2022. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Exadel Acquires Codete
Exadel, founded in 1998, is based in Concord, California. The company has 1,530 employees listed on LinkedIn. Exadel’s areas of expertise include integration of middleware, SOA, open source, mobile development tools, software development, enterprise services, DevOps, extended & dedicated teams, big data & analytics, QA automation & testing, IoT, application support, UX/UI, product development, enterprise mobile development, PaaS, SaaS, healthcare tech solutions, and financial services tech solutions.
Codete, founded in 2010, is based in Kraków, Poland. The company has 264 employees listed on LinkedIn. Codete’s areas of expertise include web development, mobile development, enterprise application, software development, big data, machine learning, AI, data science, IoT, consulting and R&D.
The addition of Codete’s eCommerce, UX, big data, and cloud capabilities will complement Exadel’s existing MarTech and engineering practices, according to the company.
Exadel Acquires Codete: Increased European Presence
Fima Katz, Chairman of the Board, Exadel, commented:
"We're very excited about Codete's presence in the EU market. Exadel always had strong engineering capabilities in Europe, and Codete's portfolio of European logos positions us to provide outstanding development for the biggest names in Europe. All current relationships will remain in place, as continuity with the Codete leadership team is a huge priority. We're sure this acquisition will open up new opportunities to become an even more integral part of our client's success."
Artur Olechowski, managing director, Codete, said:
"Joining Exadel represents the next level of growth for our employees and our company as a whole. We have a lot to offer Exadel in terms of our European vision for expansion, and we're looking forward to benefiting from Exadel's larger engineering and HR practices."
Elizabeth De Saint-Aignan, managing director, Sun Capital, added:
"Our strategy of creating a prominent engineering base in Poland is greatly advanced with the acquisition of Codete. Codete brings the perfect blend of engineering excellence, overlapping corporate culture, and regional presence that we are confident will make a lasting positive impact on Exadel."
Exadel Private Equity Backing
Exadel is no stranger to M&A activity having acquired Seattle-based technology consultancy Coppei in October 2021. In addition to its offices in Concord, Exadel has locations in Europe, North America, and Asia. Sun Capital Partners, a private equity firm, has owned Exadel since March 2021.
The private equity firm, active since 1995, has invested in more than 425 companies worldwide with revenues in excess of $50 billion. Sun Capital typically invests in the business services, consumer, healthcare, industrial and technology sectors. The firm has offices in Boca Raton, Florida, Los Angeles and New York and an affiliate with offices in London, the United Kingdom.
