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Alma Media completes the Nettix acquisition

Alma Media Corporation                                                           1 April 2021


Alma Media has closed the acquisition of Nettix Oy, the leading marketplace for motor vehicles, from Otava Group. The acquisition was announced on 5 March 2021.

The acquisition of Nettix Oy is a continuation of Alma Media’s strategy that concentrates on digital media and services. Nettix will strengthen Alma Media’s position in the marketplace business in Finland, especially in automotive and mobility services.

A total of 39 Nettix Oy’s employees (converted to full-time employees) will transfer to Alma Media as of 1 April 2021.

Nettix will be reported as part of the Alma Consumer business segment, starting from Q2 2021. In 2020, Nettix had revenue of EUR 22.5 million, EBITDA of EUR 11.2 million and operating profit of EUR 10.0 million.

The transaction and its financing

The enterprise value of the business operations to be acquired is EUR 170 million. The purchase price will be paid in cash, for which purpose Alma Media has agreed on debt financing under regular terms and conditions for a business acquisition.

The purchase price will be paid in cash, and Alma Media has agreed on debt financing. Alma Media will finance the transaction fully with debt and has signed with OP Yrityspankki Oyj a committed bridge financing facility of EUR 220 million, which will fall due no later than 18 months after the acquisition has been completed. The financing also covered the EUR 53 million acquisition of the minority shareholding in Alma Mediapartners as announced by Alma Media in December. Alma Media will convert the bridge facility into long-term financing during 2021.

Alma Media estimates that the acquisition will create annual synergies of EUR 1.5 million by 2022, mainly related to advertising sales, support functions, premises, IT systems and IT development.

The estimated transaction-related costs are EUR 1.5 million, of which Alma Media has booked EUR 0.5 million as costs in 2020.

For more information, please contact:
Juha Nuutinen, CFO, Alma Media, tel. +358 10 665 3873

Alma Media in brief

Alma Media is a dynamic digital service business and media company with a strong capacity for renewal. The company’s best-known brands are Kauppalehti, Talouselämä, Iltalehti, and Monster. Alma Media builds sustainable growth expanding its offering from media to related digital services fulfilling the needs of users’ everyday life as consumers and as professionals in business. Alma Media operates in 11 countries in Europe. Alma Media employs approximately 1,500 professionals. Alma Media’s revenue from continuing operations was EUR 230.2 million in 2020. Alma Media’s share is listed on NASDAQ Helsinki. Read more at 

  • Published: 1.4.2021, 12:00
  • Category: Press release

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