Bulgarian-founded IT company Codery, creating technical delivery centers and connecting international businesses with skilled IT professionals from Eastern Europe, has acquired the software company Devision.
This merger aims to combine Codery’s innovative talent acquisition and integration strategies with Devision’s expertise in crafting software solutions. Together, the companies will offer global clients an expanded team, advanced technologies, and a broader range of services.
Leveraging synergies for future growth
The acquisition of Devision comes during a period of significant growth for Codery, backed by last year’s €2.6 million from the mezzanine fund Silverline Capital.
“This merger reflects our appetite for growth and innovation. I believe our combined efforts, resources, and expertise will enable us to enter new industries and provide unprecedented growth opportunities,” said Philip Balkanski, CEO of Codery and the initiator of the acquisition.
The newly formed organization aims to offer access to over 20,000 IT experts from Eastern Europe, and state-of-the-art technologies, enabling the execution of larger and more complex projects. Furthermore, the new structure opens opportunities to work with clients from new industries such as AI, energy, financial banking, aerospace, government projects, and research technologies.
“The merger of Devision and Codery is an opportunity to unleash our full potential. We share a common vision of excellence, innovation, and the drive to enhance client service while broadening the scope of our offerings,” commented Peter Nenov, CEO of Devision.
In 2025, Codery plans to further expand their global market presence through additional acquisitions and strategic partnerships.
“Our goal is clear — doubling our scale and increasing our client reach,” Balkanski stated. The company also intends to launch its autonomous platform next year, aimed at optimizing the process of building remote tech teams for business clients.
“Watch from the front row as we reshape the industry — this is just the beginning,” concluded Philip Balkanski confidently.
