Narayan AmmachchiPanamanian software vendor Izertis has acquired a 50% stake in regional competitor Coderland, marking its third acquisition this year.
The deal strengthens Izertis’ presence in Central America, giving it access to facilities in Panama, Guatemala, and El Salvador, where Coderland operates alongside its base in Spain.
Founded in 2019, Coderland employs more than 200 people and primarily serves clients in the U.S. The company closed 2024 with a turnover of approximately $9.72 million and an EBITDA of about $1.62 million.
Izertis CEO Pablo Martín noted that the acquisition will drive the development of new and expanded IT services. Coderland CEO Jorge Rubia expressed enthusiasm, stating the alliance will accelerate growth, expand their service portfolio, and enhance their ability to attract top tech talent across Latin America.
This is Izertis’ fifth international acquisition in the past year. It follows the recent purchase of the MBC Group in the UK and the acquisition of British firm Assured Thought in January 2025. Other European deals include Projecting (July 2024) and Swiss firm Digiswit (September 2024).
Izertis recently reported its FY2024 financial results, highlighting continued growth with revenues of approximately $149.15 million (up 13.8%) and a Normalized EBITDA of about $22.36 million (up 10.9%). Under its 2027 Strategic Plan, the company targets revenues of $270 million and an EBITDA of $35.64 million. Founded 28 years ago, Izertis today employs over 1,900 professionals across Europe and America.
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