Chili Labs management buy-out from 1242 Apps

In late 2023, the founders of the Latvian tech start-up Chili Labs (SIA Chili) sold 59% of their company shares to the Norwegian technology firm 1242 Apps AS. Ellex assisted the founders in the transaction.

In August 2024, we provided strategic guidance to the founders of Chili Labs in the buy-out of a majority stake from 1242 Apps, as well as assisted with the required transaction documentation and corporate changes.

Chili Labs is a leading agency that specialises in native app development for iOS and Android for exceptional UI/UX.

The Ellex team in Latvia, led by Partner Sarmis Spilbergs, with Senior Associate Kaspars Olsevskis and Associates Kristers Losāns and Elīza Semkina, advised Chili Labs throughout the process.