Arena Partners Oy has purchased shares in Adfore Technologies Ltd from five private individuals. Moreover, Arena Partners Oy and VTT Ventures Ltd have subscribed a targeted share issue. After the purchase of shares and targeted share issue, Arena Partners Oy owns an 11.8 per cent stake in Adfore Technologies Ltd.
Adfore is rooted in VTT projects aiming to develop location-based solutions; the company also has strong technology and market expertise concerning browser-based and mobile web services.
Adfore’s Tässä.fi service is the number one location-based search service for Finnish Internet (www.tassa.fi) and mobile users (m.tassa.fi). The service provides easy access to weather forecasts, traffic congestion statuses, timetables and route directions as well as nearby services including petrol stations, grocery stores, Alko stores, pharmacies and ATMs. The Tässä.fi service utilises technologies and IPR developed at VTT.
Adfore has also created services such as the “Stores on the map” section of Kesko’s Plussa.com online service. In addition, Tässä.fi serves as Alko’s map service.
”Adfore has access to high-quality technology. This coupled with the reinforcement of the company’s ownership base provides a good base for growing the company’s business operations,” says Tapio Moisio, CEO at Arena Partners Oy.
”Adfore also sees this ownership arrangement as a great opportunity: This is the natural path for our company’s growth from a startup into a growing enterprise. Moreover, our domestic Tässä.fi service will become even more efficient at the local level, benefiting both consumers and companies,” states CEO Markus Tallgren.
The Arena Partners Group comprises of subsidiary Arena Partners Oy (www.arenapartners.fi) and mobile-business subsidiary (65 %) Arena Interactive Oy, which, in turn, has the subsidiary (100 %) Steam Communications Oy. Arena Partners’ affiliated companies include the following: Uranus Oy (36.16 %), engaging in electronic recruitment, and Alma Mediapartners Oy (35 %), specialising in online classified ads (accommodation: Etuovi.COM and Vuokraovi.COM, cars: Autotalli.COM, consumer ads: MyyJaOsta.COM).
Arena Partners Oy is owned by: Keskisuomalainen Oyj (37.85 %), Ilkka-Yhtymä Oyj (37.82 %), Pohjois-Karjalan Kirjapaino Oyj (8.11 %), Keski-Pohjanmaan Kirjapaino Oyj (8.11 %) and Länsi-Savo Oy (8.11 %).
Adfore Technologies Oy ownership: company founders (66 %), VTT Ventures Ltd (22.2 %) and Arena Partners Oy (11.8 %).
More information available from:
Antti Sinisalo, CEO, VTT Ventures Oy, +358 40 524 8751
Tapio Moisio, CEO, Arena Partners Oy, +358 50 376 1230
Markus Tallgren, CEO, Adfore Technologies Ltd, +358 40 592 8585
Matti Korkiatupa, Chairman of the Board, Arena Partners Oy, +358 500 162 015