Alma Media acquires the leading Baltic internet recruitment service company
Alma Media Corporation Stock Exchange Release February 2, 2012 at 1:30 pm EET
ALMA MEDIA ACQUIRES THE LEADING BALTIC INTERNET RECRUITMENT SERVICE COMPANY
Alma Media Corporation has today acquired CV Online, the leading internet recruitment service company in the Baltic countries. The parties have agreed not to disclose the value of the deal. The 2011 revenue of CV Online is estimated at approximately EUR2.0 million, showing a growth of approximately 30% over the year before. The company's 2011 operating margin was approximately EUR0.6 million. As of today, the company will be reported as part of Alma Media's Marketplaces segment.
CV Online operates in Estonia, Latvia and Lithuania, employing a total of 34 people. Their position will not be affected by the acquisition. The company is the market leader in Latvia and Lithuania, and shares the leading market position in Estonia. A total of 430,000 registered job seekers have submitted their CVs in the CV Online databases.
The acquisition of CV Online is part of the implementation of Alma Media's strategy, according to which the company seeks growth from digital services and internationalisation. Alma Media announced on December 21, 2011 that it will purchase the company LMC s.r.o that owns the leading recruitment portals in the Czech Republic. The deal was closed on January 2, 2012.
"CV Online is a great addition to our recruitment service offering and will, together with the Czech LMC and the Finnish Monster.fi, make recruitment services Alma Media's largest service segment in Marketplaces," says Mr Raimo Mäkilä, Senior Vice President, Marketplaces business area.
Alma Media Corporation
Rauno Heinonen
Vice President, Communications and Investor Relations
More information:
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 3,000 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
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Alma Media Oyj via Thomson Reuters ONE
Follow Reuters