The Polish media group Agora has significantly increased its stake in Online Technologies HR, which owns an online recruitment site HRLink.pl. Agora has now 79.8% of the company shares, up from 46,15% before the transaction. Agora’s total investment in Online Technologies is PLN 7.7 million ($2 million U.S.).
Agora has also been granted the option to buy all remaining shares in Online Technologies, which may be exercised for part of the shares after approval of Online Technologies HR’s financial statements for FY2022 and for all other shares after the approval of its financial statements for FY2023, the company said in its stock exchange announcement.
Online Technologies HR is one of the fastest growing technology companies in Central Europe. In 2018, it made its debut in 26th place in the prestigious Deloitte ranking ‘Technology Fast 50 Central Europe’. The company’s revenues in FY2018 amounted to PLN 5.5 million ($1.4 million U.S.) and its net profit was PLN 104,000 ($26,504).
Online Technologies HR’s HRLink.pl is an online recruitment site available in the subscription model. It also offers other IT services related to the recruitment process (e.g. creating career websites) as well as a multiposting job ads service.