4 November 2009. Lyngsoe Library Systems A/S today announced the final deal to take over the assets of Codeco. The acquisition includes all rights to engineering, manufacturing, software, service and intellectual property of Codeco. In order to secure the operation of existing Codeco systems, Lyngsoe's service organization can already now provide service and support. New systems can furthermore be delivered from the complete Codeco product portfolio.
Codeco has delivered intelligent and interactive self-service systems for libraries since 1990, primarily in Scandinavia, where Codeco has a significant market share. With the acquisition of Codeco, Lyngsoe Library Systems has further demonstrated its eagerness to develop intelligent solutions making it easier for patrons as well as library staff.
Lyngsoe's decision to extend the business area to include library solutions began in August 2009 with the take over of the global FKI Logistex Library Solutions business, which was owned by American Intelligrated, Inc. and Danish Crisplant a/s. With the takeover of the assets of Codeco the product portfolio within self-service systems has been extended in such a way that Lyngsoe Library Systems today can offer the most comprehensive and proven product portfolio for libraries.
Per Ravn, Managing Director, Lyngsoe Library Systems A/S states about the acquisition:
"When we made the decision to enter the Library market, we did it with the full intention of delivering the world's best solutions for this market. Lyngsoe intends to create a product portfolio that suits the needs of the market. We will begin by taking the best from Codeco and FKI Logistex Library Solutions as well as utilizing Lyngsoe's expertise within logistics solutions from other business areas. By focusing our effort and communicating with the market, we will grow this business area. Therefore, besides the acquisition of Codeco we have also opened a subsidiary in Germany".
Codeco was founded in 1984 and was developed to serve the library market. Since the launch in 1990 of library solutions, Codeco has sold more than 1400 self-service systems. These systems have created value for all kinds of public and university libraries. The Codeco products have included RFID-technology since 2005, which is a core technology of Lyngsoe Systems.