Finland-based media company Alma Media, which operates a number of job boards, announced its subsidiary Alma Career has agreed to acquire a 70% stake in Vrabotuvanje Online, a North Macedonian online job board.

Tau Online, part of the Alma Media Group, already owns 30% of the company, so Vrabotuvanje Online will become fully owned by the Alma Media Group.

The transaction is subject to the approval of the Commission for the Protection of Competition in North Macedonia, and the transaction will only be completed after that approval. The two sides have agreed that the purchase price will not be published.

Vrabotuvanje.com.mk was established in 2003 and belongs to Vrabotuvanje Group. The job board has hundreds of thousands of weekly visitors, and its employees are placed in the capital Skopje. Vrabotuvanje Online’s net sales were €500,000 in 2022.

The group said the collaboration between Tau Online, its Croatian recruitment service MojPosao and Vrabotuvanje Group will enable Vrabotuvanje.com.mk to further strengthen its market position in the North Macedonian labour market.

“Alma Media builds sustainable business growth using the possibilities of digitalisation: by seeking, among other things, growth in digital services and internationalisation, especially in the recruitment business,” Vesa-Pekka Kirsi, senior vice president of Alma Career, said. “Alma Media has online recruitment services in 10 European countries, and most of the services are market leaders in their respective regions. In addition, we own a minority stake in the recruitment service in Serbia. We believe that North Macedonia’s national economy will grow and competition for the workforce will continue to intensify in the coming years.”

Last month, Alma Media announced it sold 90% of the common stock it owns of Czech-based Talent’em to the company’s acting management.

In April, Alma Media reported revenue of €75.2 million in Q1 2023, a decrease of 1.3% when compared to last year.