The participants did not disclose the cost of the transaction. Evgeny Sysoev, managing partner of AVentures Capital, estimated Intellica at $1-2 million.
Speaking about the reasons for the takeover of Intellica, Digicode noted the following: in order to maintain growing demand from European customers, the company has the opportunity to merge with an enterprise with a good reputation and customer base, as well as strong technical expertise. This transaction will allow Digicode to enter the European market through a large portfolio of customers and resources that allow it to respond to new business opportunities. The deal is also expected to help both companies increase annual growth by 30%.
The Intellica team will have full access to the community and internal Digicode educational initiatives, as well as contact with technical staff and the CTO office. Digicode promises that they will not somehow change the corporate culture in Intellica.
Intellica co-founder Vladimir Lyulka said that Intellica will continue to work under its brand with a focus on the European market.
Digicode is registered in Dallas, Texas. The company also has many offices in Ukraine and Europe. Digicode development centers are located in Kiev, Poltava, Minsk and Bratislava. Digicode employs 350 employees. The company is led by Ukrainian Maxim Masliy.
Vladimir Lyulka (formerly the head of the BrainBasket educational fund) and Alexander Karichensky will remain partners in Intellica after the absorption of Digicode.