U.S. firm acquires Latvian software company in major deal

U.S. contact management software development company FullContact has acquired Latvian software developer Cobook in a major deal.

FullContact concentrated on cloud solutions and corporate clients, whereas Cobook worked with individual customers, reports nozare.lv.

"The companies are leaders in their respective areas, which is why we decided that a merger would be advantageous for both," said Cobook Director Kaspars Dancis, who will will be taking over responsibility of the entire FullContact Address Book platform.

The Cobook team relocate to Denver, U.S. in the near future as part of the deal.

Cobook was established in 2011 and has come to be known for its innovative address books, originally developed for "Apple" devices.

Cobook co-founders are Kaspars and Janis Dancis. At the end of 2012, Hamburg-based investment company "HackFwd" invested  192,088 euros in the company, acquiring 30 percent stake in Cobook.

According to Firmas.lv data, FullContact acquired "Cobook" already at the end of 2013 and at the moment owns 100 percent of Cobook shares.