diff --git a/src/observable/ObservableValue.ts b/src/observable/ObservableValue.ts
index b3ffa6ee..15d931ff 100644
--- a/src/observable/ObservableValue.ts
+++ b/src/observable/ObservableValue.ts
@@ -16,6 +16,7 @@ limitations under the License.
 
 import {AbortError} from "../utils/error";
 import {BaseObservable} from "./BaseObservable";
+import type {SubscriptionHandle} from "./BaseObservable";
 
 // like an EventEmitter, but doesn't have an event type
 export abstract class BaseObservableValue<T> extends BaseObservable<(value: T) => void> {
@@ -34,6 +35,10 @@ export abstract class BaseObservableValue<T> extends BaseObservable<(value: T) =
             return new WaitForHandle(this, predicate);
         }
     }
+
+    flatMap<C>(mapper: (value: T) => (BaseObservableValue<C> | undefined)): BaseObservableValue<C | undefined> {
+        return new FlatMapObservableValue<T, C>(this, mapper);
+    }
 }
 
 interface IWaitHandle<T> {
@@ -114,6 +119,61 @@ export class RetainedObservableValue<T> extends ObservableValue<T> {
     }
 }
 
+export class FlatMapObservableValue<P, C> extends BaseObservableValue<C | undefined> {
+    private sourceSubscription?: SubscriptionHandle;
+    private targetSubscription?: SubscriptionHandle;
+
+    constructor(
+        private readonly source: BaseObservableValue<P>,
+        private readonly mapper: (value: P) => (BaseObservableValue<C> | undefined)
+    ) {
+        super();
+    }
+
+    onUnsubscribeLast() {
+        super.onUnsubscribeLast();
+        this.sourceSubscription = this.sourceSubscription!();
+        if (this.targetSubscription) {
+            this.targetSubscription = this.targetSubscription();
+        }
+    }
+
+    onSubscribeFirst() {
+        super.onSubscribeFirst();
+        this.sourceSubscription = this.source.subscribe(() => {
+            this.updateTargetSubscription();
+            this.emit(this.get());
+        });
+        this.updateTargetSubscription();
+    }
+
+    private updateTargetSubscription() {
+        const sourceValue = this.source.get();
+        if (sourceValue) {
+            const target = this.mapper(sourceValue);
+            if (target) {
+                if (!this.targetSubscription) {
+                    this.targetSubscription = target.subscribe(() => this.emit(this.get()));
+                }
+                return;
+            }
+        }
+        // if no sourceValue or target
+        if (this.targetSubscription) {
+            this.targetSubscription = this.targetSubscription();
+        }
+    }
+
+    get(): C | undefined {
+        const sourceValue = this.source.get();
+        if (!sourceValue) {
+            return undefined;
+        }
+        const mapped = this.mapper(sourceValue);
+        return mapped?.get();
+    }
+}
+
 export function tests() {
     return {
         "set emits an update": assert => {
@@ -155,5 +215,34 @@ export function tests() {
             });
             await assert.rejects(handle.promise, AbortError);
         },
+        "flatMap.get": assert => {
+            const a = new ObservableValue<undefined | {count: ObservableValue<number>}>(undefined);
+            const countProxy = a.flatMap(a => a.count);
+            assert.strictEqual(countProxy.get(), undefined);
+            const count = new ObservableValue<number>(0);
+            a.set({count});
+            assert.strictEqual(countProxy.get(), 0);
+        },
+        "flatMap update from source": assert => {
+            const a = new ObservableValue<undefined | {count: ObservableValue<number>}>(undefined);
+            const updates: (number | undefined)[] = [];
+            a.flatMap(a => a.count).subscribe(count => {
+                updates.push(count);
+            });
+            const count = new ObservableValue<number>(0);
+            a.set({count});
+            assert.deepEqual(updates, [0]);
+        },
+        "flatMap update from target": assert => {
+            const a = new ObservableValue<undefined | {count: ObservableValue<number>}>(undefined);
+            const updates: (number | undefined)[] = [];
+            a.flatMap(a => a.count).subscribe(count => {
+                updates.push(count);
+            });
+            const count = new ObservableValue<number>(0);
+            a.set({count});
+            count.set(5);
+            assert.deepEqual(updates, [0, 5]);
+        }
     }
 }