Finnish media company Alma Media Corp (HEL:ALN1V) said it had purchased the Eastern European job portal assets of A&N Media Ltd, which is wholly owned by Britain’s Daily Mail and General Trust Plc (LON:DMGT), in a deal with an enterprise value of EUR24m (USD30.6m).
The transaction, which was bankrolled from existing credit facilities, reflects Alma Media’s strategy to pursue growth from digital services and increase internationalisation, it said.
As part of the deal, Alma Media has acquired Slovakian recruitment service Profesia sro, which is also present in the Czech Republic and Hungary with job portals, Croatian job portal operator Tau on-line doo, Slovakian used car portal service Autovia sro, as well as a 25% interest in Serbian recruitment and car portal Infostud 3 doo and a 30% stake in Bosnian job portal Development Studio doo.
The acquisition complements Alma Media’s recruitment service offering n the Czech Republic, the Baltic countries and Finland and is seen to result in synergies between the operating countries, the buyer noted.
Revenue corresponding to the purchased assets amounted to about EUR8.5m for the twelve months to September 2012, with and EBITDA-margin of about 33%.