Alma Media completed the Netwheels acquisition
Alma Media Corporation Press release 31 January 2024
ALMA MEDIA COMPLETED THE NETWHEELS ACQUISITION
Alma Media has completed the acquisition of Netwheels, a software provider for car sales. The transaction was announced on 18 January 2024. The main owner of Netwheels was Sanoma Media Finland Oy and the owners also included eight Finnish automotive operators.
The acquisition of Netwheels complements the car and mobility services offered to Alma Media's corporate customers. The acquisition will contribute to the development of Alma Media's marketplace and systems business by streamlining vehicle buying and selling processes and by providing digital solutions to automotive dealers, importers, finance companies, application developers and other automotive operators.
Netwheels Oy will be reported as part of the Alma Consumer business segment as of 1 February 2024. Netwheels Oy's turnover in 2023 was approximately EUR 8 million.
Director, Alma Consumer
Tel. 010 665 2833
Alma Media in brief
Alma Media is an international company of digital media, marketplaces and services with a strong capacity for renewal. We inspire human curiosity and choice by creating services that combine technology and content with a local heart. In Finland, our best-known brands include Kauppalehti, Talouselämä, Iltalehti, Jobly, Etuovi.com, Nettiauto and Nettimoto. Our recruitment services include prace.cz and jobs.cz in the Czech Republic, Profesia.sk in Slovakia and mojposao.net in Croatia.
In Finland, our business operations include leading housing and automotive marketplaces, financial and professional media, national consumer media and content and data services for businesses and professionals. Alma Media’s international business in Eastern Central Europe, Sweden and the Baltic countries consists of recruitment services and an online marketplace for commercial properties.
Alma Media operates in 12 countries in Europe and employs approximately 1,700 professionals. Alma Media’s revenue from continuing operations was EUR 309 million in 2022 of which the share of digital business was 81%. Alma Media’s share is listed on NASDAQ Helsinki. Read more at www.almamedia.fi/en/.
- Published: 31.1.2024, 15:27
- Category: Press release