CodeLab Capital AS (OB:CODE) is looking for M&A deals. During the CodeLab Capital Fourth Quarter and Second Half 2025 Investor Update, Anton Bondesen, CEO, said, "We do that by pursuing opportunistic M&A deals and putting our infrastructure capital to work." "We had some cleaning up to do. We got a new majority owner, lots of practicalities in that.

After -- immediately thereafter, we managed to secure a deal with Kuba, did a capital raise, making sure that we could deliver on what we -- the opportunities we've identified. Not long thereafter, we acquired a majority stake in Cloudya. We've been strengthening the team and building an M&A pipeline going ahead.

So at this point, right, where we are now, we're ready to like really tap into the value creation part." "We have demonstrated that we can do successful M&A deals. We have a very valuable M&A pipeline. You see the potential effects of that pipeline in the earlier slides." Christoffer Mathiesen, CFO, said, "Just to elaborate a bit about the M&A pipeline we're seeing.

What's interesting is that the infrastructure capital approach that we have apparently is something that several of the candidates that we talk to find really interesting. So since we set out basically this summer doing M&A and building the pipeline, we've had discussions with around a couple of handful of companies potentially as acquisition candidates, some more relevant than others.