Technology M and A 2026

CHILE Trends and Developments Contributed by: Nicolás Yáñez Figueroa and Ornella Otárola Tiozzo, EDN Abogados

positive and not, and questions from those nominated with an overall understanding of the matter’s impor- tance, but also the demand for a coherent, proportion- al and technical implementation. The first definitive list of OVIs will be published in mid-December 2025. Artificial intelligence In line with the National Artificial Intelligence Policy ( Política Nacional de Inteligencia Artificial ) (2021), the Lower Chamber of Congress passed (in August 2025) a bill regulating AI systems, submitted by the govern- ment (in May 2024). At the time of publication of this guide (11 December 2025), the bill is in its second constitutional stage, before the Senate. If enacted, Chile will become the first country in the region to have specific legislation in this field. The bill seeks to: • ensure the development and usage of these technologies, respecting the fundamental rights of individuals; • protect citizens from risks; • promote innovation; and • provide certainty for AI developers and users. The bill establishes that the Personal Data Protection Agency will be responsible for overseeing compliance, particularly in cases where individuals’ rights may be affected. The current landscape Overall, as a result of the series of changes (that are still undergoing), the current landscape for companies has become significantly more challenging, raising the standard of information security in recent years. Companies may now even be held criminally liable for these matters, in addition to facing much more exhaustive regulation and new obligations (such as having dedicated areas responsible for cybersecurity within companies and promptly reporting any cyber- security threats in their systems to the authorities), aside from the need to incorporate a team of special- ists in the field to fulfil these new obligations. Thus, Chile is currently undergoing a complete para- digm shift and the establishment of a new culture, increasingly demanding and sophisticated. This has been reflected not only at a legal level, through the series of amendments already mentioned, but also

in the substantial improvement of the country’s infra- structure, accompanied by major announcements from leading technology firms, as well as projects being developed by the state, all of which have paved the way for more significant M&A procedures. Chile’s Path to Modernisation: Infrastructure Investment Trends For years, Chile has been working on the establish- ment of a whole digital transformation agenda, taking various steps in its commitment to the development of an internal digital transformation by signing a series of agreements, alliances and policies that have systemi- cally incorporated technological platforms to public services and allowed their incorporation to other enti- ties. Following the enactment of Law No 21,180 on the Digital Transformation of the State in 2019, the invest- ment of the Chilean government in the digital transfor- mation of the public sector and its modernisation to improve the efficiency of internal operations and the delivery of public services has been assessed by the OECD, giving the country policy recommendations to strengthen the management of digital investments, in line with the three pillars of the OECD Digital Gov- ernment Investments Framework. The Inter-American Development Bank has also participated in various projects supporting public-sector modernisation, digi- tal transformation and Chile’s new data strategy. In such context, Chile’s digital infrastructure is advanc- ing rapidly: investment in data centres, the expansion of fibre optics and 5G, submarine cables and satellite connectivity are shaping the country’s new techno- logical ecosystem. In mid-2025, the Chilean government signed an agreement with Google to install the first fibre-optic cable between South America and Oceania, the Hum- boldt Cable System. This will allow Chile to serve as the gateway for data from the Pacific Ocean to the Americas, positioning the country as the region’s digi- tal activity hub. Chile is steadily advancing towards becoming a digital infrastructure leader in Latin America. The launch of the National Data Centre Plan marks a pivotal mile- stone in positioning the country as a global player in the data centre industry, providing regulatory clarity

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