Spain’s Izertis acquires Coderland to boost Central America reach
ASTURIAS, SPAIN — Spanish technology consultancy Izertis has acquired a 50% stake in Coderland, a Panama-based software development company, furthering its expansion into Central America.
While specific financial terms of the deal remain confidential, the merger gives Izertis access to Coderland’s operational hubs in Panama, Guatemala, El Salvador, and Spain, along with a talent pool of over 200 employees.
“This integration not only gives us facilities in key Central American markets but also boosts our IT services development capabilities in Latin America,” said Izertis CEO Pablo Martín.
He emphasized that the deal will help the firm tap deeper into high-value tech talent across the Americas.
Strategic growth and global expansion
The Coderland acquisition marks Izertis’ third international deal in 2025 and its fifth in the past year. It follows acquisitions of Assured Thought in January and the UK-based MBC Group in April, as well as 2024 deals involving Swiss firm Digiswit and British consultancy Projecting.
Izertis, founded 28 years ago, now operates major production hubs across Europe, Latin America, and India. The company reported strong FY2024 financials, with revenue rising 13.8% to about $149.15 million and normalized EBITDA up 10.9% to $22.36 million. Under its 2027 Strategic Plan, it targets $270 million in annual revenues and $35.64 million in EBITDA.
Coderland eyes accelerated growth
The deal allows Coderland to accelerate its growth and expand its services.
“Joining hands with Izertis represents a giant step forward in our mission to become a leading player in software,” said CEO Jorge Rubia.
“This alliance will allow us to accelerate our evolution, expand our portfolio of services within our clients and strengthen our ability to attract and retain the best technology talent in Latam.”
Founded in 2019, Coderland specializes in digital transformation projects and primarily serves clients in the U.S. and Latin America. The company closed 2024 with revenues of approximately $9.72 million and reported EBITDA of around $1.62 million.
