SanomaWSOY's publishing sector, Werner Söderström Corporation (WSOY), has increased its holding in the Polish company, Young Digital Poland S.A. (YDP), from 29.07% to 49% (44.6% of voting rights). The parties have also agreed that WSOY will have an option to acquire a majority holding in YDP as of the beginning of 2004.
WSOY's investment will support YDP's further growth and WSOY's digital learning environment and technology development projects, and the potential to extend their reach internationally. The move will also help strengthen cooperation in digital content production process and distribution system development work between WSOY's various e-learning and e-training units (eWSOY, Educational Materials, Docendo Group, and YDP).
Young Digital Poland, based in Gdansk, is Poland's leading producer of learning-related multimedia products and a specialist in digital learning environments, particularly language training CD-ROMs and Internet applications. The company's products have been localised for a number of national markets in Central Europe and the Nordic region. YDP has focused a significant proportion of its development efforts on its iSchool project, to produce digital learning materials on key school subjects. These materials are already in use in grades 3 to 6 in Polish schools.
Founded in 1990, YDP had net sales of FIM 26.8 million (unaudited) in 2000 and employs an average of 120 people. The company is committed to achieving a strong market position in Europe with its products. Within WSOY, YDP forms part of eWSOY, responsible for coordinating WSOY's learning portal, consumer multimedia publishing, and WSOY's 25% holding in Everscreen Mediateam Oy.