Helsingin Sanomat Oy has increased its holding in Netwheels Oy to 55 per cent. Netwheels produces online tools and services for car retailers and other car industry partners. Previously Helsingin Sanomat held a total of 20 per cent in Netwheels. The sellers include the If Vahinkovakuutus insurance company and five private people who have approved a purchase offer by Helsingin Sanomat.

A number of car companies and the AKL-Palvelu Oy of the Finnish Central Organisation for Motor Trades and Repairs will remain as minority shareholders of Netwheels Oy. Netwheels continues to produce services for all its partners in the car dealing industry and for the media companies providing services for the industry.

"Through closer cooperation with Netwheels we are able to provide our advertising customers with better tools and services that cover every stage in car dealing," says Pekka Soini, President of Helsingin Sanomat.

According to Netwheels Oy President Pertti Airikkala, cooperation with Helsingin Sanomat and the Oikotie.fi service will offer more resources to development work. "We will offer our current customers new services and also continue to develop our products for small and mid-sized car companies. Cooperation with the leading media house in Finland will yield significant opportunities, which can be used to develop online and media services that support car dealing in a more efficient way," says Airikkala.

The acquisition supports Sanoma's strategic aim of strengthening its online business operations.

Helsingin Sanomat Oy is part of the newspaper division Sanoma of the SanomaWSOY Group.