Otava Group has signed an agreement with Alma Media Corporation to divest the share capital of Nettix Ltd. The enterprise value is EUR 170 million, which will be paid in cash at the closing of the transaction. The divestment is expected to take place at the turn of March and April 2021.
Nettix’ business consists of Finland’s leading motor vehicle marketplaces, such as Nettiauto, Nettikone and Nettimoto, reaching an audience of 2.5 million Finns weekly. In addition, Nettix consists of Konepörssi, the leading professional media for machine and transport business, and the news service Ampparit. Nettix’s employees will transfer to the Alma Media in the transaction.
Otava Group CEO Alexander Lindholm says: “Nettix has been part of Otava since 2006 and its growth story is based on understanding the customer needs and the special features of motor vehicle retail markets. I would like to extend my warm thanks to the entire Nettix team for their excellent and valuable work. We believe that being part of Alma Media will open up attractive new development opportunities for Nettix and its personnel.”
“The Nettix acquisition represents an important step in our strategy that focuses on digital media and services. It strengthens our position in the automotive and mobility sector, being strategically important for us in Finland. Nettix’s digital and highly scalable business model enables profitable growth and expansion to new business areas.,” says Kai Telanne, President and CEO of Alma Media.
Otava Group will continue to provide ad sales services and certain other support services to Nettix during an agreed transitional period.
For more information, contact:
Alexander Lindholm, Otava Group CEO, email@example.com,
tel. +358 40 833 0126