Estonian Firm Acquires Latvian Cityparks, Plans Parkner App Launch

The parties have not disclosed the amount of the transaction. Until now, 40% of Cityparks Latvija's capital was owned by the Estonian company Osauhing Toystor, while 30% each was owned by the Estonian companies Alvarium and Lectum Invest, according to information from Firmas.lv. Following the transaction, Cityparks Latvija plans to introduce the Parkner app, which provides contactless payments, making the digital solution used in Estonia available to Latvian drivers as well. Cityparks operates in 12 Latvian cities. Ühisteenused is owned by an Estonian investor group whose portfolio includes companies operating in the infrastructure, services, and technology sectors throughout the Baltics. Cityparks Latvia was registered in November 2013 and has a share capital of €93,000, according to data from Firmas.lv. In 2024, the company's turnover was €2.513 million, while its profit was €226,052.