SanomaWSOY's newspaper and business information sector, Sanoma Corporation, has finalised its acquisition of the Finnish- and Estonian-based activities of Infosto Oy, in which Sanoma has had a 35% holding since 1998. This follows the signing of a letter of intent on November 29, 2000.
The transaction is valued at some FIM 165 million. The vendor is Infosto Oy's majority owner, Infosto Research & Development Oy Ltd., which has a 65% holding and is owned by Ari Ahola.
Infosto's Finnish-based operations generated net sales of FIM 72 million in 1999. As a leading developer of electronic marketplaces and associated services and software, Infosto offers SanomaWSOY growth potential in a strategically interesting area and will bring synergy benefits in areas such systems and content.