Alma Media, a digital business platform based out of Finland, has announced that it has entered an agreement to buy out Nettix Oy from Otava Group for 170 million euros. Nettix brings with it a huge inventory of brands of online marketplaces, including Nettiauto, Nettimoto, Nettikaravaani, Nettikone, Nettimarkkina, Nettimökki, Nettivaraosa, Nettivene and Nettivuokraus, Konepörssi, and Ampparit.
Alma Media plans to use this acquisition to boost its position in the online classifieds sector. Alma Media already owns the operations of leading property portal Etuovi as well as apartment rental site Vuokraovi, and the added brands will solidify its hold on the real estate market in Scandinavia.
The transaction is expected to close this year between March and April 2021.