Romania: Schoenherr advises SpeedValue on acquisition of Codegile
Schoenherr Romania advised SpeedValue on its acquisition of Romanian software developer Code Agile SRL, operating under the Codegile brand. The transaction is part of SpeedValue's growth strategy aimed at responding to increasing demand for development services in the context of the accelerated transition to cloud-based environments across sectors. Following the transaction, Codegile has become CodeValue Romania.
"With a growing number of M&A deals in the IT sector in recent years, Romanian software development and services companies have continued to be appealing for investors," said Schoenherr partner Mădălina Neagu, who led the team advising SpeedValue in this transaction. "As SpeedValue has decided to tap into the local market's potential, we are glad to have advised them in adding Codegile's expertise to their offering."
SpeedValue is an Israel-based IT company focused on digital transformation and cloud. With a team of approx. 150 programmers and software architects, the company serves over 100 customers from various sectors. SpeedValue owns two companies with proven track records in development, cloud and digital (Welldone and CodeValue acquired in 2019 and 2020).
Founded in 2013, Code Agile is a Romanian software development company. It serves clients based in Romania, the USA and Israel, providing software development in areas such as high performance and UX/UI design, web design, app development and engineering, AI development for data analysis and predictions, and the internet of things.
The Schoenherr team advising on the transaction was led by Mădălina Neagu (partner) and included Mihaela Popescu (senior attorney at law) and Alexandra Șmahon (attorney at law).