TechnologyCoda splits from its scientific arm

Coda splits from its scientific arm

Both companies, Coda and SciSys hope that the move will make management of the two businesses much easier to handle

Where acquisitions have become the norm among business software companies,
seeing one attempt to split in two could cause finance directors to question
what is going on at their IT supplier.

Coda is to split from its scientific IT arm SciSys, in a move that both
companies hope will make management of the two businesses much easier to handle,
with the creation of two companies and their own boards.

Dave Turner, marketing director at Coda, has played down fears that the split
will cause its proportion of operating costs to grow, eating into margins.
‘Operationally it’s business as usual. There are no significant increases in
operating costs.’

Instead Turner expects the move to make it easier for Coda’s management to
focus more closely on just the one company, admitting that as CodaSciSys any
investment decision would have to be weighed up against the use of funds for the
other part of the business.

Essentially, Coda may have more cash on its own to invest in its own
products. ‘Customers certainly shouldn’t see any negative effect,’ Turner says.

The two companies will be listed on AIM, subject to the approval of
shareholders at its EGM in August.

Related Articles

HMRC outlines points-based penalty model for MTD

MTD HMRC outlines points-based penalty model for MTD

3d Alia Shoaib, Reporter
GDPR: How legitimate are your legitimate interests?

Regulation GDPR: How legitimate are your legitimate interests?

1w Ian Singer, PKF Littlejohn
Viewpoint: Making Tax Digital is not all doom and gloom

Making Tax Digital Viewpoint: Making Tax Digital is not all doom and gloom

1w Brian Palmer, AAT
Treasury cracks down on Bitcoin amid tax evasion concerns

Regulation Treasury cracks down on Bitcoin amid tax evasion concerns

2w Alia Shoaib, Reporter
AVADO wins award for online ACCA courses

Career AVADO wins award for online ACCA courses

2w Alia Shoaib, Reporter
The role of the accountant as productivity and technology leader

Technology The role of the accountant as productivity and technology leader

2w Receipt Bank | Sponsored
Accountancy in the digital age: Flexibility, agility, efficiency

Accounting Software Accountancy in the digital age: Flexibility, agility, efficiency

3w Pegasus Software | Sponsored
How to get your clients ready for the cloud

Cloud How to get your clients ready for the cloud

3w Sage | Sponsored