COBALT advised "Practica Seed Capital" KŪB, a venture capital fund, in relation to its investment in a Lithuania-based IT company ImpressPages, UAB. The fund’s investment reaching EUR 0.2 million will be used to develop the company and improve its current products. This marks the first external investment in the company.
ImpressPages, UAB is a developer of web content management system ImpressPages CMS. This web content management system has already earned international recognition. In 2011 it was announced the winner in the highly promising Open Source Awards project. At the Lithuanian web awards ceremony "Login", it was awarded the Best Web Application title.
COBALT work included legal due diligence, drafting of legal documents, assistance in negotiations and legal advice on the various aspects related to the investment. The team was led by Senior Associate Eva Suduiko.