WSOY, a division of SanomaWSOY Group, sells its map and location company Genimap Corporation to the venture capital company Eqvitec and to the operating management of the company. After the acquisition, WSOY's holding in Genimap will decrease from 100% to 10%. The value of the deal is EUR 10.5 million.
According to the agreement, WSOY will continue to print, distribute and market Genimap maps.
Genimap Corporation is Finland's leading Geographical Information System company with the net sales of some EUR 12 million (2002). It has a total of some 100 employees. The divestment is in line with SanomaWSOY's strategy to divest its non-core assets and holdings.
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