Lithuania’s media company Verslo Zinios has sold its job ad website cv.lt to CV Keskus, an Estonian company that is part of the Swiss media group Ringier, Verslo Zinios said on Wednesday, without disclosing the value of the transaction.
“The decision to withdraw from the e-commerce niche by selling the job ad website cv.lt was dictated by Verslo Zinios’ ambition to focus on B2B media and other digital products that help Lithuanian businesses to increase their competitiveness,” Ugnius Jankauskas, CEO at Verslo Zinios, said.
According to Axel Konjack, a board member at Ringier AG, the move will help his company to gain a foothold in the Baltic markets.
CV Keskus also operates the CVMarket.lt, CVKeskus.ee and CVMarket.lv websites.
Sweden’s Bonnier News Business owns 80 percent of Verslo Zinios, and the Verslo Zinios business weekly’s editor-in-chief Rolandas Barysas has a 20-percen stake.
Ringier owns around 140 companies in 20 countries. It generated more than 80 proc. of its profits from its digital business.
Source: BNS
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