In July 2026, Lyngsoe announced the acquisition of CodeOne, a Portuguese technology company specializing in software solutions, RFID, warehouse mobility, voice-directed order picking, and automatic identification and data capture. Baker Tilly Tech M&A acted as Lyngsoe’s exclusive financial advisor on the transaction.
The transaction strengthens Lyngsoe’s presence in Southern Europe and expands its ability to provide local support to customers in Portugal and Spain. The combination brings together CodeOne’s expertise in these markets with Lyngsoe’s international experience in real-time tracking, automation, traceability, and logistics operations visibility.
Target: CodeOne
CodeOne — Sistemas de Identificação e Processamento de Dados, Lda. is a Portuguese technology company specializing in the development and implementation of solutions for automatic data collection, identification, and processing.
The company develops custom software and technology solutions designed to improve the efficiency of operational processes. Its main areas of expertise include RFID tracking systems, warehouse mobility, voice-directed order picking, traceability and proof of delivery solutions, inventory management, and automatic identification and data capture applications.
CodeOne serves companies across industries including logistics, distribution, retail, manufacturing, and supply chain, combining software, hardware devices, and consulting, support, and maintenance services to deliver end-to-end solutions tailored to each organization's needs. The company operates in Portugal and Spain, where it has built a strong market position through its local expertise and its ability to deliver customized technology projects.
As part of the transaction, CodeOne will continue to operate under its existing brand and management structure, maintaining continuity in its relationships with customers and employees while gaining access to an international platform and complementary capabilities to accelerate its growth.
Carlos Figueiredo, CEO of CodeOne, highlighted the opportunities created by the transaction:
"Joining Lyngsoe marks an exciting new chapter for CodeOne. We share a strong commitment to innovation, customer relationships, and operational excellence. Becoming part of a stronger international organization allows us to continue delivering agile, tailored solutions to our customers while accelerating our future growth opportunities.”
Investor: Lyngsoe
Lyngsoe is an international technology provider specializing in real-time tracking, automation, and visibility solutions for supply chains and complex logistics environments. With origins dating back to 1952 and operations in 60 countries, the company combines deep industry expertise with scalable technology solutions to enhance automation, traceability, and operational performance.
Its capabilities span logistics and supply chain, warehouse management, asset tracking, healthcare, and postal and parcel services. The acquisition of CodeOne enables Lyngsoe to strengthen its direct presence in Southern Europe and add a team with proven expertise in the Portuguese and Spanish markets.
Michael Vistisen, CEO of Lyngsoe, stated:
“CodeOne is an excellent strategic fit for Lyngsoe, not only because of its technical capabilities, but also due to its customer-centric approach and deep understanding of operational processes. This investment strengthens our ability to provide local support to customers across Southern Europe and expands the scope of our combined expertise in international supply chains. Together, we can help customers transform operational complexity into clarity, enabling faster decision-making, more robust processes, greater efficiency, and sustainable business impact.”
Baker Tilly Tech M&A Advisory
Baker Tilly acted as Lyngsoe’s exclusive financial advisor in the negotiations with CodeOne’s management team and shareholders. Diego Gutiérrez Zarza, Partner specializing in the technology sector, led the advisory team.
Baker Tilly has a specialized Tech M&A advisory practice and has consistently ranked among the Top 3 advisors in the mid and small technology market in Iberia.
Baker Tilly International’s corporate finance services include advisory on cross-border transactions for clients operating across multiple jurisdictions. The Baker Tilly network spans more than 147 territories, with over 50,000 professionals working across more than 750 offices.
Baker Tilly is an international network of independent professional business services firms specialising in advisory, consulting, audit, tax, legal, accounting, labour and management services for SMEs and multinational companies.
