Integral Venture Partners’ portfolio company, Codecool announces merger with Software Development Academy
13 September 2022
Codecool, the portfolio company of Integral Venture Partners (Integral), has merged with Software Development Academy (SDA), a leading Poland based, pan-regional coding school.
SDA, established in 2014, is the market leading Polish B2C focused coding school headquartered in Gdynia, with pan-regional presence in Central Eastern Europe. SDA is specialized in traditional, bootcamp style short courses (5-8 months) in the fields of software development, coding, data science and other related areas. SDA operates across 10 countries (Poland, Romania, Estonia, Czech Republic, and Albania, among others) and has to date successfully graduated more than 15,000 students.
The merger with SDA is a unique opportunity for Codecool and its shareholders to accelerate their regional expansion strategy and create the CEE champion in the field, catering to most market segments and customer needs. The two companies operate highly complementary business models and product offerings and expect to realise both revenue and cost synergies as they combine their operations.
After the merger, the joint company is set to become one of the largest digital reskilling and coding private education companies in CEE and the most prominent player in Hungary, Poland and Romania, the largest markets in the region. The joint company is well-positioned to capitalize on the continued favourable industry trends such as increasing demand for digital skills, need for reskilling of the existing workforce and continued shortage of IT professionals in CEE and Europe.
Terms of the transaction were not disclosed.
About Integral Venture Partners
Integral Venture Partners manages institutional private equity and growth capital focused on investments in Central and South‐Eastern Europe. Integral’s fund is backed by leading international institutional investors including the EIF, the EBRD, and the IFC. Integral covers its target markets out of hubs in London, Budapest, and Belgrade. For more information, please visit: www.integralvp.com
Headquartered in Budapest, Codecool is a digital education and reskilling business specializing in fast tracked coding courses and subsequent student placements into the corporate sector with campuses in Budapest, Warsaw, Bucharest and Vienna. Integral anchored a growth capital investment round in Codecool in March 2021. For more information, please visit: www.codecool.com