AS Ekspress Grupp to acquire media company Geenius Meedia OÜ
17 Diciembre 2021 - 04:15AM
AS Ekspress Grupp to acquire media company Geenius Meedia OÜ
On 17 December 2021, AS Ekspress Grupp entered
the contract for the acquisition of 100% of shares in the media
company Geenius Meedia OÜ.
Founded in 2015 by tech journalist Henrik
Roonemaa and publisher Siim Saidla, Geenius Meedia OÜ was a
tech portal that has grown into a modern media company with 13 web
portals, podcasts and print magazines. The content of Geenius
Meedia is available at geenius.ee. The web portals of Geenius have
about 300,000 monthly users and will have approximately 4,000 paid
digital subscriptions. The nine-month sales revenue of Geenius
Meedia was approximately EUR 1.4 million and has almost doubled as
compared to the same period a year earlier.
The purpose of the acquisition is to grow the
digital media business and expand into a niche that the
publications of Ekspress Grupp do not yet regularly cover. The
shared goal of Ekspress Grupp and Geenius Meedia is to continue
offering attractive content for the readers of geenius.ee. After
the transaction, Geenius Meedia OÜ will continue to operate as a
separate media company and its main founders Hendrik Roonemaa and
Siim Saidla will remain actively involved in the company’s
management and daily operations. As a group, Ekspress Grupp offers
Geenius Meedia synergy in functions supporting the media business,
providing notably bigger growth potential for the fast-growing
company.
The parties have agreed neither to disclose the
price nor any other terms of the transaction. The transaction is
scheduled to be completed by the end of 2021 and is partly financed
with a bank loan from AS SEB Bank. With this transaction, Ekspress
Grupp assumes the obligation to issue 371,000 share options of AS
Ekspress Grupp that will be exchanged as underlying asset relating
to the options issued by Geenius Meedia and that will be redeemed
in May 2023. The share option programme will be approved by the
general meeting of shareholders of Ekspress Grupp which will be
convened at the time notified separately to the shareholders. The
transaction is not considered as a significant transaction
according to the rules and regulations of the NASDAQ Tallinn Stock
Exchange “Requirements for Issuers”. AS Ekspress Grupp confirms
that the members of the Group’s Management and Supervisory Boards
are not personally interested in the transaction.
Mari-Liis Rüütsalu Chairman of the Management Board +372 512
2591 mariliis.ryytsalu@egrupp.ee
AS Ekspress Grupp is the leading media
group in the Baltic States whose key activities include web media
content production, publishing of newspaper, magazines and books.
The Group also manages the electronic ticket sales platform and
ticket sales sites in Latvia and Estonia. Ekspress Grupp that
launched its operations in 1989 employs 1,400 people, owns leading
web media portals in the Baltic States and publishes the most
popular daily and weekly newspapers as well as the majority of the
most popular magazines in Estonia.
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