Horizon Partners is thrilled to announce the successful acquisition of CODA Intelligence by PDQ, completed on April 9th, 2024. This strategic transaction, backed by the support of TA Associates and Berkshire Partners, represents a pivotal moment for both CODA Intelligence and PDQ.
CODA Intelligence, a leader in innovative cybersecurity solutions, has been at the forefront of protecting organizations against sophisticated digital threats. In 2023 alone, more than 4,750,000 vulnerabilities were prioritized and fixed using CODA’s technology. Founded in 2016, the company’s state-of-the-art technology and commitment to security very quickly set it apart as an emerging leader in cybersecurity. Through a highly accelerated, targeted process, Horizon Partners worked closely with CODA Intelligence, guiding through a process that culminated in their acquisition by PDQ, an ideal acquirer given its expansive customer base, previous successful acquisitions, and best-in-class PE-backing.
PDQ, known for its comprehensive suite of IT management tools designed to simplify the complexity of system administration, is poised to significantly benefit from the integration of CODA Intelligence’s cybersecurity solutions. With a robust customer network and a solid track record of innovation, PDQ offers an excellent platform for CODA Intelligence’s products, facilitating immediate opportunities for cross-selling and upselling within PDQ’s large customer base.
This acquisition highlights Horizon Partners’ expertise in orchestrating highly customized and strategic processes that not only meet but exceed the expectations of our clients. The collaboration between Horizon Partners and CODA Intelligence through this accelerated process exemplifies our ‘Product-first’ approach to M&A in delivering tailored solutions that align with the unique needs and objectives of our clients.
“We’re thrilled to join forces with the PDQ team,” says Chris Sandescu, CEO of CODA, who co-founded CODA alongside Andrew Calin and Octavian Grigorescu. “The need for real-time, quality risk information is critical for IT, MSPs, and security teams, especially now as they face increasingly sophisticated cyber threats. Partnering with PDQ will allow us to advance our shared mission of enabling organizations of all sizes to maintain a strong security posture.”
Following the strategic acquisition of CODA, PDQ announced the launch of PDQ Detect – an innovative vulnerability scanning and management solution. With CODA’s technology at its core, the solution can discover and prioritize high risk vulnerabilities present across an organization’s environment.
Looking forward, the combination of PDQ’s IT management solutions and CODA Intelligence’s cybersecurity prowess is expected to set new standards in the industry, offering comprehensive, secure, and efficient IT management and security solutions. This transaction not only underscores Horizon Partners’ expertise in the ITSM sector but also demonstrates our focus on building long-standing relationships. Horizon advised PDQ on their 9-figure growth investment by TA Associates in 2021 and has stayed close to PDQ’s founders, operators, and investors in the years since.
For further details on this transaction and how Horizon Partners’ ‘Product-First’ approach to mergers and acquisitions can benefit your company, please reach out to us. Our team remains dedicated to supporting our clients through every step of their strategic journeys, ensuring success in an ever-evolving digital landscape.
PDQ’s own press release announcing the transaction and the launching of their new product (PDQ Detect) can be found here.