SQLI announces the takeover of the German digital strategy and design agency CodeLux (CDLX) based in Berlin. The transaction was accomplished via the acquisition of a stake in Osudio, an SQLI subsidiary acquired in 2017 and already present in Germany since 2005, to the tune of 51% of CDLX’s capital, and strengthens the presence of the SQLI Group on the German market.
Founded in 2005, the CDLX agency is well known and has several times won awards for its capacity to assimilate the brand culture of its clients and translate it into the best design associated with cutting-edge digital solutions. CDLX has developed a “Radical Simplicity” concept, (Radikale Einfachkeit in German), for its creations. In 2017, CDLX recorded a turnover of €0.8 million.
The acquisition, the terms and conditions of which remain confidential, was paid for in cash and will be immediately accretive. CDLX’s management team of Hugo Goldner and Martin Christel will be fully involved in the success of the new group and will benefit from an earn-out indexed on future economic performances.
CDLX teams (12 people) will be brought together with those of Osudio who already have a base in Berlin. Osudio and CDLX already collaborate on joint projects.