COBALT advises BaltCap with exit sale of Vendon SIA

BaltCap Latvia Venture Capital Fund together with other shareholders has sold 100% of Vendon SIA to an international technology company Azkoyen. Vendon, operating under the Draugiem Group, is a global IoT (Internet-of-things) company, providing easy-to-use business intelligence, telemetry and payment solutions.

The Azkoyen Group is a multinational company with its headquarters in Navarre (Spain) specializing in the design, manufacture and sale of technological solutions for payment systems, vending machines, security systems and access control.

COBALT M&A, tax and IP teams including Partners Guntars Zīle and Sandija Novicka, and Senior Associates Elīna Ločmele, Diāna Zepa and Līga Fjodorova, and Associates Agnese Gerharde and Gabriela Šantare advised BaltCap Latvia Venture Capital Fund and other shareholders throughout the entire sales transaction.