Finland-based media company Alma Media, which operates a number of recruitment services sites, announced has acquired the remaining share capital to become the whole owner of Kolektiv Ltd, an online recruitment service in Bosnia and Herzegovina.

The parties have agreed not to disclose the price of the transaction.

Kolektiv was established in 2001. In its operations, the company has focused on the digital job market business, recruitment and HR consulting services, staff leasing and outsourcing services and temporary staffing services. In 2018, the company’s total revenue amounted to €1.8 million and it employed 40 people.

The transaction is subject to approval of local competition authorities before closing.

Alma Media’s strategy is to build sustainable business growth through the opportunities of digitalisation including by seeking growth from digital services and internationalisation, in recruitment business inparticular.

Alma Media has online recruitment services in ten European countries. In addition, Alma Media owns minority interests in recruitment services in Serbia and Macedonia.