Alma Media Corporation Press release 1 October 2015 at 12:15 p.m.
Otavamedia buys Alma 360 from Alma Media
In a transaction concluded today, Alma Media sold Alma 360, the customer media and content marketing service provider, to Otavamedia. The transaction takes effect immediately.
The parties have agreed not to disclose the purchase price. As a result of the transaction, Alma Media will record a sales loss of roughly MEUR 1.3 million in its 2015 result. Alma 360’s revenue for 2015 is expected to amount to approximately MEUR 10.
The transaction will not have an effect on the employees of Alma 360.
“While the growing content marketing business is interesting, we have decided to focus our activities. Otavamedia is the best possible owner for Alma 360 and will become the clear market leader in its sector thanks to this transaction. This will also offer clear benefits and new opportunities for customers,” says Juha-Petri Loimovuori, Alma Media’s Senior Vice President in charge of Financial Media and Business Services.
“What we see in customer and stakeholder communications, content marketing and the related moving image is an opportunity to build a third foundation for Otavamedia, one parallel to our activities in magazine publishing and digital business. We strongly believe that it is possible to seek growth and profitability in all three of these areas,” says Otavamedia’s Managing Director Pekka Harju.
Alma 360 will become part of a company also made up of MCI Press, acquired by Otavamedia at the beginning of this year, Otavamedia Customer Communication and DeCo Media. The new company will be managed by Mika Suortti. The revenue of the new entity will be nearly EUR 20 million, and it will employ more than 100 people. “Our new company will have a great track record and strong competence to carry out communications with measured effects,” says Mika Suortti.
For more information, please contact:
Juha-Petri Loimovuori, Senior Vice President, Financial Media and Business Services, Alma Media, email@example.com, tel. +358 500 511036
Pekka Harju, Managing Director, Otavamedia Ltd, firstname.lastname@example.org,
tel. +358 400 400 913
Mika Suortti, Managing Director, MCI Press, email@example.com, tel. +358 40 588 5445
Alma Media in brief:
Alma Media is a media company focusing on digital services and publishing. In addition to news services, the company’s products provide useful information related to lifestyle, career and business development. The services of Alma Media have expanded from Finland to the Nordic countries, the Baltics and Central Europe. In 2014, the company employed an average of 1,830 professionals (excluding deliverers), of whom approximately one quarter worked outside Finland. Alma Media’s revenue in 2014 totalled approximately EUR 295 million. Alma Media’s share is listed on NASDAQ OMX Helsinki. Read more at www.almamedia.com.
Otavamedia in brief:
Otavamedia Ltd is a Finnish media house that publishes 26 magazines in Finland. The company is a market leader in magazines and a strong operator in the digital market. Its most well-known brands include Suomen Kuvalehti, Tekniikan Maailma, Nettiauto, Anna, Seura and Kotiliesi. Otavamedia is part of Otava Group, a 125-year-old profitable and developing family enterprise.