Talentum Oyj - Company Announcement

TALENTUM SELLS ITS SWEDISH SUBSIDIARY TALENTUM HR

Helsinki, Finland, 2011-12-22 13:02 CET (GLOBE NEWSWIRE) -- Talentum Oyj       
  Company Announcement December 22, 2011 at 2 pm 

TALENTUM SELLS ITS SWEDISH SUBSIDIARY TALENTUM HR

Talentum Oyj has sold its Swedish subsidiary Talentum HR today, December 22,
2011 with effect on December 28, 2011. The buyer is Wise Group AB, based in
Sweden. The total purchase price is SEK 28 million (approximately EUR 3.1
million) of which SEK 20 million will be paid in cash on December 28, 2011, SEK
4.0 million will be paid six months and SEK 4.0 million twelve months from the
effective date. The enterprise value is approximately SEK 16 million. 

Talentum will record a loss on sale of approximately EUR 2.6 million, otherwise
the transaction will not have significant effect on Talentum Group's net sales
and operating income for the final quarter of 2011. 

The Talentum HR business was acquired in 2007. The focus of the company is on
HR business information and consulting. The company's estimated net sales for
2011 are SEK 42 million and the business has been loss-making. It employs some
30 persons. 

“Talentum HR was acquired in 2007, but the synergy potential and cooperation
with company's other operations did not materialise to the extent expected. I
am convinced that within Wise Group, which concentrates solely on the HR
branch, the business of Talentum HR will develop favourably for both the staff
and customers”, says Aarne Aktan, CEO of Talentum Oyj. 

“Wise Group's focus is on operational and strategic services within Human
Resources. We aim to offer a full range portfolio, in order to help our clients
to reach their goals profitably. Talentum HR's expertise, systems and clientele
will be an excellent addition to our portfolio. I am convinced that we can
provide also Talentum HR's current clients with a wider range of services”,
says CEO Stefan Rossi of Wise Group. 

Talentum Oyj
Aarne Aktan
CEO

Further information
Talentum:
CEO Aarne Aktan, tel. +358 40 342 4440

Wise Group:
CEO Stefan Rossi, tel. +46 8 642 20 54, +46 70 775 53 39

Talentum
Talentum is a publisher and producer of information for professionals. The
Talentum Group employs some 800 people in Finland, Sweden, Denmark, the Baltic
countries and Russia. Talentum's Finnish media are Talouselämä, Arvopaperi,
Fakta, Tekniikka&Talous, MikroPC, Tietoviikko, Markkinointi&Mainonta,
Metallitekniikka, Mediuutiset, while in Sweden it publishes Ny Teknik,
Affärsvärlden, Dagens Media, Lag&Avtal and Arbetarskydd. Talentum Events
produces seminars and events for business professionals. Talentum is also the
leading publisher of a wide range of legal and professional literature and an
instructor in the legal field. Talentum Oyj is listed on NASDAQ OMX Helsinki
Oy. 

www.talentum.fi
www.talentumhr.se

Wise Group
Wise Group AB is a corporation with subsidiaries, all with services within
Human Resources. We offer a full-range portfolio of services for both
operational and strategic HR. By understanding our clients' business and see
the entire HR process as a tool to achieve the business goals we make our
customers more profitable.  Wise has offices in  Stockholm, Gothenburg, Malmö,
Linköping and Borås. The Wise share trades on the stock OMX First North with
Mangold Fondkommission as Certified Adviser. 

 www.wisegroup.se