Finland-based Alma Media is to acquire auto industry software provider NetWheels from Sanoma for an undisclosed sum, according to a news release. The transaction is expected to close by the end of this month.

NetWheels provides software and services related to vehicle retail, pricing and imports, enabling dealers to digitize trade-ins, distribution and inventory management. It also operates b-to-b vehicle auction site and car market data provider Mittaristo.

In 2023, NetWheels generated approximately €8.0 million ($8.7 million U.S.) in revenue; it employs 29 people, all of whom will become employees of Alma Media Group. NetWheels will be incorporated into the Alma Consumer business segment.

“The acquisition will contribute to the development of our marketplace and system business by streamlining the purchase and sales processes of vehicles and by offering versatile digital solutions to car retailers, importers, financing companies, application developers and other operators in the automotive sector,” said Santtu Elsinen, senior vice president at Alma Consumer.

Alma Media’s automotive portfolio includes marketplaces and, auto-repair comparison site and c-to-b marketplace Baana.

Apart from its domestic market, Alma Media also operates in Sweden, the Baltics, and Central Europe. It is listed on the Helsinki Stock Exchange.

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