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TARK GRUNTE SUTKIENE Tallinn office advised Webmedia on acquisition of Finnish software company CCC

Estonia’s largest software developer Webmedia purchased a 97 per cent stake in the Finnish software company CCC Corporation. CCC is a medium-sized Finnish company founded in 1985. The last year’s turnover of CCC amounted to 22 million euros and the company employs nearly 200 professionals. The consolidated company is the biggest IT firm in the Baltics and among the 25 largest in the Scandinavian countries. Webmedia will continue its operations in Finland under the name CCC, and the acquisition also means an expansion in the firm’s activities in Russia. Webmedia has been active on the Russian market since last spring and, by the end of this year, its turnover in Russia is expected to reach 2 to 4 million euros.

The transaction was partly financed by equity and partly by a bank loan. TARK GRUNTE SUTKIENE partner Risto Vahimets and senior associate Andres Siigur assisted Webmedia with both conducting the purchase transaction and arranging a loan for the transaction.

Please read Webmedia’s press release HERE.