Alma Media acquires the leading online recruitment company in the Czech Republic

Alma Media Corporation Stock Exchange Release  December 21, 2011 at 12:00 (EET)

ALMA MEDIA ACQUIRES THE LEADING ONLINE RECRUITMENT COMPANY IN THE CZECH REPUBLIC

Alma Media Corporation has today agreed to acquire LMC s.r.o, the company behind the two leading recruitment portals in the Czech Republic. The acquisition price on an enterprise value basis is EUR 35.4 million, paid in cash at closing. In addition, there is an earn-out payment of EUR 3.9 million at maximum based on LMC's financial performance in 2012. The transaction is estimated to be closed on January 2, 2012.

The acquisition is in line with Alma Media's strategy to seek growth from digital services and internationalise its operations. In 2011, the annual revenue of LMC is expected to grow by approximately 25 % from the previous year and amount to EUR 16.5 million, while the EBITDA is estimated to total EUR 4.6 million. The company will be reported as part of Alma Media's Marketplaces segment.

LMC was established by the seller, Mr Libor Malý, in 1996 and since then the company has been the Czech market leader. LMC operates two recruitment portals in the Czech Republic (www.jobs.cz and www.prace.cz) and one in Slovakia (www.topjobs.sk). LMC has in total approximately 25,000 registered B2B customers and approximately one million registered job seekers. LMC employs approximately 200 persons located mainly in Prague. The acquisition will have no effect on LMC's employees or the brand names.

 "Through this transaction, we take a major step in the internationalisation of our online recruitment segment. I am very satisfied that LMC's talented team will join Alma Media. I firmly believe that the know-how of LMC combined with Alma Media's strong experience in online services, also in the field of recruitment, will provide us with great opportunities to further develop our services to benefit of our customers", says Raimo Mäkilä, Senior Vice President of Alma Media's Marketplaces business area.

"It has been important for me to ensure LMC's continued strong development after the transaction, and I am very satisfied with Alma Media as the new owner of the company. I am convinced that the transaction brings interesting development opportunities for LMC's management and employees as well as enables LMC to continue launching new innovative services to its customers", says Libor Malý, the founder of LMC.

Alma Media Corporation
Rauno Heinonen
Vice President, Corporate Communications and Investor Relations

For further information, please contact:
Raimo Mäkilä, Senior Vice President, Marketplaces, tel. +358 10 665 5802.

Distribution: NASDAQ OMX Helsinki Stock exchange, principal media

Alma Media in brief
Alma Media is a dynamic media company whose best-known products are Aamulehti, Iltalehti, Kauppalehti and Etuovi.com. Alma Media employs approximately 2,800 professionals. The company's net sales in 2010 totalled MEUR 311.4 with an operating margin of 13.9 per cent. Alma Media's share (ALN1V) is listed in the NASDAQ OMX Helsinki Exchange. Read more at www.almamedia.fi

  • Date: 21.12.2011, 13:00
  • News type: Stock exchange release

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