Sanoma Media Finland divests Huuto.net and Hintaseuranta.fi services to a group of private investors – Neuvoa Advisors advisor to the sellers
Neuvoa Advisors advised Sanoma Media Finland in a sell-side process, in which the end result was a business sale of Sanoma Digital’s Huuto.net and Hintaseuranta.fi services. The advisory services regarding the process entailed preparing of marketing materials, identifying and contacting buyers, over-all coordination of the process and contract negotiations. After the business sale Sanoma Digital will follow its strategy and focus on services for job-hunting and living, and its SAAS and platform business.
Huuto.net and Hintaseuranta.fi are both leading services in Finnish eCommerce in their own categories – Huuto.net as a mostly C2C platform for buying and selling goods and Hintaseuranta.fi as a price comparison site. Together the services offer consumers the opportunity to buy goods new or used, and more recently also rented. The services will continue as they have after the transaction and 11 employees will transfer as part of the deal. One of the investors, Jari Piiponniemi, will step in to lead the new business of ePrice Oy.
”We see a lot of potential in Huuto and Hintaseuranta, and want to invest in the development and growth of these services”, says Jari Piiponniemi.
More on the transaction (in Finnish):