The digital services and publishing company Alma Media Corporation is acquiring the remaining shares of the job marketplace Alma Career, 16.66% minority shareholding from Monster Worldwide Scandinavia AB, for €58.5 million ($68.7 million). When the transaction is finished, Alma Career Oy will be fully owned by Alma Media.
Alma Career Oy was founded in 2013 by Alme Media and Monster Worldwide Inc, to cover job recruitment marketplaces in Eastern Central Europe and the Baltic countries. Its recruitment services include the recruitment companies operating in Eastern Central Europe, such as LMC in the Czech Republic, Profesia in Slovakia, MojPosao in Croatia, CV Online in the Baltic countries, and Kolektiv in Bosnia and Herzegovina.
Alma Career Group, a subsidiary company of Alma Career Oy, had €62.7 million ($73.6 million) revenue in 2020. EBITDA was €23.9 million ($28 million) and operating profit was €20.6 million ($24 million).
“The redemption of the minority interest affects Alma Media Group’s balance sheet position by the redemption price of the minority interest being deducted directly from the group’s equity,” wrote the company in an announcement.
The two companies launched two branded job boards, Monster.fi in Finland and Monster.cz in the Czech Republic. They will continue working as Monster and the owner change will not affect customer relations.
Recently, Alma Media acquired a marketplace for motor vehicles Nettix Oy for €170 million ($200 million).