Alma Media to acquire auto industry software provider NetWheels
Summary
Finland-based Alma Media is to acquire auto industry software provider NetWheels from Sanoma for an undisclosed sum, according to a news release. 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 Autohuuto.fi and car market data provider Mittaristo. “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. Apart from its domestic market, Alma Media also operates in Sweden, the Baltics, and Central Europe.