Alma Media to increase the ownership of Etua loan comparison service
Alma Media Corporation Press Release 3 July 2019
ALMA MEDIA TO INCREASE THE OWNERSHIP OF ETUA LOAN COMPARISON SERVICE
Alma Media has acquired 40 per cent of Etua Oy shares, provider of competitive tender services for loans and insurances, increasing the Alma Media´s ownership of Etua Oy to 60 per cent. The parties have agreed not to disclose the price of the investment.
Established in 2008, Etua.fi is the longest- operating loan comparison service in Finland. Alma Media Corporation acquired 20 per cent ownership of Etua Oy through directed share issue in March 2018. In 2018, the loan comparison service had MEUR 2.64 in revenue.
The Etua.fi service enables the comparison of consumer credits and housing loans for users. The company co-operates with leading in financial service providers in Finland transmitting the loan applications submitted through online service directly to its partners. For consumers the service is provided free of charge at all times. As to date Etua.fi has served over 200 000 Finns in personal finance.
"We view Etua.fi as a competitive and growing service in the loan comparison market. According to our experience, the loan comparison service has naturally complemented our offering of content and digital services and increased customer value,” says Kari Kivelä, Senior Vice President of Alma Consumer business segment.
”Co-operation with Alma Media has well met our expectations and strengthened the brand awareness of Etua.fi. We expect the co-operation to further enhance customer value in areas like automotive, travelling, housing,” says Antti Aarvala, managing Director of Etua Oy.
Kari Kivelä, Senior Vice President, Alma Consumer, tel. +358 10 665 2032
Antti Aarvala, Managing Director, Etua Oy, tel. +358 40 5065 738
Alma Media in brief
Alma Media is a media company focusing on the service business and journalistic content. The company’s best-known brands are Kauppalehti, Talouselämä, Affärsvärlden, Iltalehti, Aamulehti, Etuovi.com and Monster. Alma Media builds sustainable growth for its customers by utilising the opportunities of digitalisation, including information services, system and expert services and advertising solutions. Alma Media’s operations have expanded from Finland to the Nordic countries, the Baltics and Central Europe. Alma Media employs approximately 1,900 professionals (excluding delivery employees), of which approximately 30% work outside Finland. Alma Media’s revenue in 2018 was EUR 354.6 million. Alma Media’s share is listed on NASDAQ Helsinki. Read more at www.almamedia.com.