Sanoma divests Netwheels Oy
Sanoma Corporation, Press release, 18 January 2024 at 9:00 EET
Sanoma divests Netwheels Oy
Sanoma divests its majority holding in Netwheels Oy to Alma Media. Netwheels Oy offers car sales software as a service (SaaS) to a large corporate customer base in the automotive industry in Finland. Sanoma Media Finland Oy holds a total of 55.8% in Netwheels. The other minority shareholders will also sell their shares to Alma Media. The divestment is in line with Sanoma Media Finland’s strategy that focuses on continuing its successful digital transformation in independent journalism and domestic entertainment.
In 2023, net sales of Netwheels Oy were approx. EUR 8 million and it employed 29 people, who will transfer to the buyer at completion. The transaction is expected to be completed at the end of January.
Additional information
Kaisa Uurasmaa, Head of Investor Relations and Sustainability, tel. +358 40 560 5601
Sanoma
Sanoma is an innovative and agile learning and media company impacting the lives of millions every day. Our Sustainability Strategy is designed to maximise our positive ‘brainprint’ on society and to minimise our environmental footprint. We are committed to the UN Sustainable Development Goals and signatory to the UN Global Compact.
Our learning products and services enable teachers to develop the talents of every child to reach their full potential. We offer printed and digital learning content as well as digital learning and teaching platforms for primary, secondary and vocational education, and want to grow our business.
Our Finnish media provide independent journalism and engaging entertainment also for generations to come. Our unique cross-media position offers the widest reach and tailored marketing solutions for our business partners.
Today, we operate in twelve European countries and employ more than 5,000 professionals. In 2022, our net sales amounted to approx. 1.3bn€ and our operational EBIT margin excl. PPA was 14.6%. Sanoma shares are listed on Nasdaq Helsinki. More information is available at sanoma.com.
