Summary of the Codex & Visma Consulting Merger
This text details the merger between Codex and Visma Consulting, outlining its impact and future plans.Here’s a breakdown of the key takeaways:
Key Impacts of the Merger:
Growth: The merger resulted in a 2-3% increase in market share,a nearly 50% increase in employees,and an expanded customer portfolio.
Strategic Shift: Codex intentionally chose to grow thru acquisition (rather than organic growth) to keep pace with the rapidly changing IT industry.
New Subsidiary: A new subsidiary, SIA Digitex, was created with a new board and legal address.
Competitive Advantage: Codex now has a decisive impact over Visma Consulting.
Financials: Codex’s turnover reached EUR 6.73 million last year (since its founding in 2018).
Future Focus & strategy:
Business Intelligence (BI): Codex is heavily investing in BI, viewing it as a combination of analytics, data visualization, and information management. They aim to help Latvian and Baltic organizations make smarter decisions using data.
Technological Expansion: They will expand their technological and standard solutions base to offer flexible and efficient solutions to customers. Key areas include data warehouses, automation, forecasting, and real-time financial reports.
talent Acquisition: Codex plans to hire more analysts, programmers, and specialists, prioritizing local Latvian talent and investing in the development of young professionals.
Collaboration: Codex and Digitex will collaborate on joint and strategic projects.
Visma’s Future:
Focus on Software Products: Visma will continue to develop and offer its existing software products (Horizon, Jumis Pro, personnel management solutions).
AI Integration: Visma aims to leverage advancements in artificial intelligence to enhance its software offerings.
Shift in Business Model: Visma has transferred its business related to individual order development to Codex.
Regulatory Approval:
* the Competition council (CP) approved the merger on August 7,2025,concluding it wouldn’t negatively impact the market.
In essence,the merger positions Codex as a stronger player in the Baltic IT market,particularly in the area of business intelligence,while allowing Visma to focus on its core software product offerings. The companies are both committed to growth and leveraging technology to benefit Latvian and Baltic businesses.
