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Codab AB becomes a part of Logos Payment Solutions

Logos Payment Solutions A/S has bought 100% of the shares of Codab AB, meaning that Codab is now part of Logos.The purpose of the acquisition is to strengthen the companies’ position in the Nordics, prepare for future development within payment solutions and not least the further internationalization both companies are facing.

Christian Lester, CEO of Codab says: “Codab has become part of a family with a strong position within payment solutions, and together we are facing an exciting future with many synergies and possibilities”.

Codab and Logos complement each other in many key aspects such as:

  • Codab and Logos are both active in an industry characterized by the rapid development within both self-service and payment solutions. Together we get a more robust organization and a stronger platform on which we can build our future.
  • The payment solutions of Codab and Logos for e.g. refueling stations (both fuel and EV charging) and car washes complement each other in many ways and so the combined product range is strengthened.
  • Both companies want to expand internationally, and together we are also better equipped to live up to the potential we have on especially the European market within e.g. payment solutions, forecourt control and gas dispensers.
  • Codab and Logos carry with them a similar culture with an immense focus on innovative solutions.

Outgoing chairman and co-owner of Codab, Niels Bengtsson, continues:”It is very important to me that Codab becomes part of a company that is so exciting and has a huge potential. That the acquisition also unites successful and former colleagues in a strong management is an added bonus – the circle is complete”.

Codab will continue as an independent company and will continue with their own products etc. as today, but will establish close cooperation with Logos to benefit from the many synergies.

”In many ways, Codab is the perfect match for us, not least culturally, and I very much look forward to us continuing an incredibly exciting journey together, where we build an international strategy based on a strong Nordic home market,” states Lars Clausen, CEO of Logos

Codab AB og Logos’s Swedish subsidiary, Logos Payment Solutions AB, will continue as independent companies, but will from day-1 establish close cooperation.

Lars Clausen, CEO of Logos, becoming chairman of the board of Codab AB and for a period of time, as a minimum the next 12 months, Niels Bengtsson will continue on the board of Codab and be available to Codab and Logos and take on responsibilities related to integration and internationalization of the companies.