by DION HENRICK in Cape Town
CAPE TOWN, (CAJ News) – THE tokenisation and digital transformation company, DAMREV, has acquired a controlling interest in Codenatics, an award-winning software development agency specialising in advanced technology solutions.
This acquisition is to significantly bolster DAMREV’s technical expertise, enabling the combined entity to offer comprehensive blockchain-based services and expand its presence in multiple industries, including financial services, retail, government and healthcare.
“This acquisition is a critical milestone in our strategy to become a global leader in digital asset tokenization and management,” said Con Bruce, co-Founder of DAMREV.
The executive believes by bringing Codenatics into DAMREV, they not only strengthen their technology stack but also enhance an ability to deliver best-in-class software solutions across industries.
“We see tremendous synergies between DAMREV’s mission to tokenize real-world assets and Codenatics’s technical capabilities, particularly in blockchain development, cybersecurity and enterprise solutions,” Bruce said.
The acquisition, initially agreed to in principle in late 2023, will allow Codenatics to operate independently within the DAMREV group while benefiting from DAMREV’s strategic direction and resources.
With the acquisition now complete, DAMREV and Codenatics will begin working on a phased integration plan, focusing on aligning their business strategies and technology roadmaps.
This process is to involve close collaboration between both leadership teams to ensure a seamless transition and identify opportunities for shared innovation.
As part of the agreement, DAMREV retains the option to acquire the remaining equity in Codenatics within the next 12 months.
This is to enable DAMREV to fully integrate Codenatics into its strategic framework, reinforcing its commitment to building a diverse and agile technology group.
“We view agility not just as a development process, but as a mindset that drives our entire organisation,” said Duane Herholdt, Chief Executive Officer of DAMREV.
– CAJ News