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Recent deal ⸱ 10-08-2023

Lexence assisted Waterland on its investment of CodiLime

Lexence assisted Waterland on its investment of CodiLime, a Polish company developing IT-solutions for the telecommunications and network industry.

CodiLime was founded in 2011 by IT students specializing in algorithmics who had won top places in international IT competitions and had the idea of employing the best Polish engineers from the beginning. As a result, it has been able to successfully deliver complex projects for global sector leaders.

“We are impressed by CodiLime’s performance – its specific competences and operational agility, as well the scale of projects conducted for global companies. We want to enable the company and its engineers to develop their know-how and strengthen their customer relationships. At the same time, we intend to support CodiLime in its further development through a buy-and-build strategy in which we will invite companies with complementary competences and strong customer relationships to join the group. Our common ambition is to build an international IT group specializing in the network area,” states Tomasz Karpinski, investment director at Waterland’s Warsaw office.

CodiLime is the third Polish technology company in Waterland’s portfolio and the investment characterizes Waterland’s growing activity on the Polish market and the fund’s continued interest in Polish companies. In previous years, Waterland acquired PGS Software and GetInData. CodiLime is distinguished by its goal to build a group focused on specialized services for the network sector.

 

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