Alma Media completed the Netwheels acquisition
Alma Media Corporation Press release 31 January 2024
ALMA MEDIA COMPLETED THE NETWHEELS ACQUISITION
Alma Media has completed the acquisition of Netwheels, a software provider for car sales. The transaction was announced on 18 January 2024. The main owner of Netwheels was Sanoma Media Finland Oy and the owners also included eight Finnish automotive operators.
The acquisition of Netwheels complements the car and mobility services offered to Alma Media's corporate customers. The acquisition will contribute to the development of Alma Media's marketplace and systems business by streamlining vehicle buying and selling processes and by providing digital solutions to automotive dealers, importers, finance companies, application developers and other automotive operators.
Netwheels Oy will be reported as part of the Alma Consumer business segment as of 1 February 2024. Netwheels Oy's turnover in 2023 was approximately EUR 8 million.
Further information
Santtu Elsinen
Director, Alma Consumer
Tel. 010 665 2833