Ellex has advised Geenius Meedia shareholders Hendrik Roonemaa and Siim Saidla on the sale of the company to the Ekspress Grupp. Cobalt advised the buyer.
"The purpose of the acquisition is to grow the digital media business and expand into a niche that the publications of Ekspress Grupp do not yet regularly cover," Ellex informed. "After the transaction, Geenius Meedia will continue to operate as a separate media company and its main founders Hendrik Roonemaa and Siim Saidla will remain actively involved in the company’s management and daily operations."
Founded in 2015, Geenius Meedia is an Estonia-based media company with 13 web portals, podcasts, and print magazines. The Geenius web portals have about 300,000 monthly users. The company’s nine-month sales revenue was approximately EUR 1.4 million.
The Ekspress Group is a media group in the Baltics that owns four media companies in Estonia, Latvia, and Lithuania. The key focus of the company is the development of digital channels and services.
"According to the head of Ekspress Group Mari-Liis Ruutsalu, the acquisition of Geenius Meedia will help continue to grow the digital media business, which is an important goal in their strategy," Cobalt reported.
The Ellex team included Counsel Antti Perli.
The Cobalt team was led by Partner Peeter Kutman and Senior Associate Liina Saaremets and included Partner Karina Paatsi, Senior Associate Tonu Kolts, Associates Anna Kosar and Kristiina Kraav, and Assistant Lawyers Liis Leedo and Ken Saksniit.