Advised Vitec on acquisition of Codea

Vitec Software Group continued to strengthen its position in Vertical Market Software by signing an agreement to acquire all shares in the Finnish SaaS companies Codea Oy and Navicode Oy. The acquisition of Codea marks the eighth transaction in Finland that IMAP Finland (Carner) has advised Vitec on.

Codea develops and delivers mission-critical online field management software for emergency vehicles. Codea Nasta, Codea Care and other Codea products are central in both moving emergency vehicles and emergency operations management. Additionally, Codea develops, delivers and maintains a Common Field Command System, KEJO, for all Finnish Public Protection and Disaster Relief (PPDR) authorities. Codea holds a market-leading position in Finland with a ca. 70 % market share.

The acquisition is pending approval from the Finnish Ministry of Economic Affairs and Employment under the Act on the Monitoring of Foreign Corporate Acquisitions in Finland.