1242 Apps acquires shares in technology start-up Chili Labs

The Norwegian technology company 1242 Apps AS has completed its acquisition of a 59% share stake in the Latvian technology start-up Chili Labs (Chili SIA).

With an in-house team of 41 skilled developers, designers and engineers, Chili Labs is a mobile application development company that has launched over 50 different projects and delivers cutting-edge solutions in the Baltics.

The 1242 APPS AS is a Norwegian technology company within the AMP Eleven group, an investment management company focusing on developing and growing technology and technology-enabled companies from small start-ups to substantial Nordic players.

COBALT provided 1242 Apps AS with full legal support for the transaction, including the preparation and execution of the acquisition, and aspects of the intellectual property law. The team was led by Partner Indriķis Liepa and included Specialist Counsel Līga Fjodorova, Senior Associates Marija Berdova, Diāna Zepa, Gabriela Šantare, and Associate Vadims Zvicevičs.