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By | Team Register 3rd January 2006 15:45

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.®

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Chris Mellor

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