Ringier Axel Springer Media AG

Ringier Axel Springer Media AG acquires leading Baltics job classifieds group CV Keskus OÜ

Zurich (ots) - Ringier Axel Springer Media AG expands its classifieds portfolio into Estonia, Latvia and Lithuania / Baltic region is one of most highly digitized and technologically advanced markets / Strong outlook for job classifieds segment

On March 29, 2017, Ringier Axel Springer Media AG acquired 100 percent of the shares in CV Keskus OÜ, operator of leading job classifieds sites cvkeskus.ee in Estonia, cvmarket.lv in Latvia and cvmarket.lt in Lithuania.

CV Keskus OÜ was established in Estonia in 2000. The company expanded to Latvia and Lithuania in 2004. CV Keskus OÜ has been owned by HeadHunter Group since 2007. Povilas Kytra, who works for the group for the past 10 years, will remain CEO.

Today, the job classifieds group reaches a total of over 1.8 million monthly visitors (source: Google Analytics Feb 2017). It publishes over 6000 job ads monthly and currently provides access to a live database of close to 1 million active CVs (internal source).

Mark Dekan, CEO Ringier Axel Springer Media AG: "With the expansion of our job classifieds business into the Baltics, we are strategically entering this high growth region. The Baltic countries are among the most digitized economies in the EU. Strong GDP growth will also drive the growth of the HR services industry. This will increase the demand for recruitment services and have a positive effect on the job classifieds segment. We will build on the strong expertise in classifieds that lies in our Group and with our shareholders."

Povilas Kytra, CEO of CV Keskus OÜ: "I am very much looking forward to combining the strength of our group with the experience and know-how of Ringier Axel Springer and to further developing our offer in the Baltic region."

About Ringier Axel Springer Media AG

Ringier Axel Springer Media AG was founded in 2010 by the Swiss Ringier AG and the German Axel Springer SE and bundles the activities of both shareholders in Central and Eastern Europe. The company operates in the growth markets of Poland, Hungary, Serbia and Slovakia with a broad range of media services, comprising more than 160 digital and print offerings. The company's registered offices are in Zurich and it employs a total of about 3000 employees.

Press contact:

Alexandra Delvenakiotis
Group Director Communications and Public Affairs
Director Digital Media Campus
Ringier Axel Springer Media AG
Phone +41 44 267 29 14
a.delvenakiotis@ringieraxelspringer.com
www.ringieraxelspringer.com

Original content of: Ringier Axel Springer Media AG, transmitted by news aktuell

Additional press releases: Ringier Axel Springer Media AG

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