Arena Partners Oy has increased its holding in Adfore Technologies Oy and redeemed the shares held by VTT Ventures Ltd. Following this transaction, Arena Partners Oy became Adfore Technologies Oy's largest shareholder (34 %), while Adfore became an associate company of Arena Partners.
Adfore Technologies is particularly known for its consumer targeted Tässä.fi mobile location based service.
Arena Partners became a co-owner of Adfore Technologies in 2012. Tapio Moisio, CEO of Arena Partners Oy, comments: "Adfore operates in the growing mobile marketing sector and offers a state-of-the-art mobile marketing solution. We will continue to invest in the development of the Tässä.fi service, in order to meet the growing needs of mobile consumers, businesses and media companies."
"The mission of VTT Ventures is to create growth companies based on VTT technology. We are delighted with our cooperation with Arena Partners in developing Adfore, and are confident that this transaction will provide Adfore Technologies Oy with a strong basis on its future growth path," says Antti Sinisalo, CEO of VTT Ventures.
In addition to the parent company, Arena Partners Oy, the Arena Partners Group includes the subsidiary Arena Interactive Oy (65%), which focuses on mobile services, its subsidiary Arena Messaging Oy (100%) and the recruitment agency Uranus Oy (100%). The associate companies of Arena Partners include Alma Mediapartners Oy (35%), which focuses on online classified advertising (home sales and vehicles), and Adfore Technologies Oy (34%), which specialises in providing a mobile local guide service.
Arena Partners Oy is owned by Keskisuomalainen Oyj (37.85% of the shares), Ilkka-Yhtymä Oyj (37.82%), Pohjois-Karjalan Kirjapaino Oyj (8.11%), Keski-Pohjanmaan Kirjapaino Oyj (8.11%) and Länsi-Savo Oy (8.11%).
VTT Ventures Ltd is a development company owned by VTT Technical Research Centre of Finland Ltd. VTT Ventures Ltd's mission is to focus on extracting value from VTT technology in developing VTT based high-tech companies with international growth potential. The company actively seeks talented and experienced entrepreneurs to champion the commercialization of its technology. VTT Ventures co-invests in its spin-offs with private investors. VTT Ventures's goal is to stimulate innovation in Finland and to receive a return on its pre-seed and seed capital investments. Its spin-off portfolio includes 20 companies in start-up phase. Read more: www.ventures.fi