Alma Media acquires Baltic recruitment service
Alma Media Alma Media owns similar recruitment portals in the Czech Republic and FinlandFinnish media group, Alma Media, has acquired CV Online, the leading internet recruitment service company in the Baltic countries.
The value of the deal was not announced but CV Online estimates its 2011 revenue at about two million euros, a growth of roughly 30% over the year before. The company's 2011 operating margin was approximately 0.6 million euros.
CV Online operates in Estonia, Latvia and Lithuania, employing 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 which owns the leading recruitment portals in the Czech Republic. The deal was closed on January 2. Alma media also owns Monster.fi
— 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 Raimo Mäkilä, Senior Vice President, Marketplaces business area.
Alma Media’s best-known products are Aamulehti, Iltalehti, Kauppalehti and Etuovi.com.
VL
