Carner advises Aller Media Oy in the sale of Suomi24 to City Digital Group

In Short

Suomi24 sold to City Digital Group

Aller Media Oy has agreed to sell social media platform Suomi24, also including online dating service Treffit24, to City Digital Group. The two platforms will be transferred to the new owner by the beginning of 2020.

The Whole Story

With more than two million monthly users, Suomi24 is one of the largest social media platforms in Finland and has been in operation since 1998. Meanwhile, Treffit24 has more than 265,000 active users each month, making it one of the most significant Finland-based operators in its field.

Part of the Danish Aller Group, Aller Media Oy is a media, marketing, data and platform company based in Helsinki, Finland. The company was founded in 1992, and it currently employs nearly 200 persons. From now on, Aller Media will be focusing on the development of the strong brands within its core businesses, Media and Marketing Services.

City Digital Group is a Finland-based investment and development company that makes strategic investments specializing in online media. The group has a number of well-known brands including, Improve Media, City Magazine, and

”As we are now focusing on media and marketing, we are, of course, happy that Suomi24 has a future within a company with a strong focus on developing digital platforms”, says Peter Lund, CEO of Aller Media.

”We are acquiring Suomi24 to receive an even larger market share in digital media sales and to strengthen our position in the online dating service market. After this transaction, the four largest media houses in Finland, measured according to the amount of online accessibility, are Sanoma, Alma Media, MTV and City Digital Group”, comments City Digital Group’s CEO Ilkka Lavas and adds, ”It is great to have one of Finland’s largest social media platforms under domestic ownership.”

The transaction is a part of City Digital Group’s wider growth strategy. The parties have agreed not to disclose the purchase price.

Carner advised Aller Media in the sale process.