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Baltics – Online recruiter CV Online acquired by Finnish media group

03 February 2012

CV Online, one of the biggest online recruitment sites in the Baltics, said that its acquisition by the Finnish media group Alma Media is “another proof of its successful operations.”

It was yesterday announced that Alma Media acquired CV Online although metrics of the deal were not made available. 

Danguole Augustiniene, the CEO of CV-Online Lithuania, said in a press release today that the new strategic investor with annual revenues of over €300 million will support the company’s expansion plans into international markets. "Alma Media-controlled companies are considered as being among the most successful companies not only in the Baltic countries, but also in Finland, the Czech Republic and other European states. Being part of the group, CV Online also plans to expand geographically," she said.

"CV Online is a great addition to our recruitment service offering and will, together with the Czech LMC and the Finnish Monster.fi, make recruitment services Alma Media's largest service segment in marketplaces," Alma Media Vice President, Raimo Makila, commented.

Ms Augustiniene said that the company will not change its brand name. The acquisition of CV Online is part of Alma Media's strategy to stimulate growth in its digital services. The media group, which also owns Monster.fi, has made other headlines by buying Czech staffing firm LMC.

CV Online has a heavy presence in the Baltic States, including Lithuania, Latvia and Estonia. The company employs over 30 staff and has increased its profits in the last fewmyears by over +30% (approximately €2 million). 

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