Alma Media Oyj (HLSE:ALMA) signed an agreement to acquire Netwheels Oy from Sanoma Media Finland Oy and other shareholders on January 18, 2024. Upon completion, Netwheels Oy will become part of the Alma Consumer business segment. As of 2023, Netwheels reported a revenue of ?8 million and the company employs 29 people who will become employees of Alma Media Group.

The acquisition is expected to be completed by the end of January 2024. Pekka Hiltunen and Mika Sihvola of Danske Bank acted as financial advisor to Sanoma.