EU – Baltic States, Financial Services, Good for Business, Internet, Investments, Labour-market, Mergers and take-overs

Established in Estonia in 2000, CV Keskus OU expanded to Latvia and Lithuania in 2004. CV Keskus OU has been owned by HeadHunter Group since 2007, Ringier Axel Springer said in a press release.

Povilas Kytra, who works for the group for the past ten years, will remain CEO.

According to Google Analytics data for February 2017, the job classifieds group reaches a total of over 1.8 million monthly visitors. It publishes over 6,000 job ads monthly and currently provides access to a live database of close to a million active CVs, figures provided by CV Keskus show.

The company made a profit of 249,000 euros on sales of 2.5 mln euros in 2015.

"With the expansion of our job classifieds business into the Baltics, we are strategically entering this high growth region. The Baltic countries are among the most digitized economies in the EU. Strong GDP growth will also drive the growth of the HR services industry. This will increase the demand for recruitment services and have a positive effect on the job classifieds segment. We will build on the strong expertise in classifieds that lies in our Group and with our shareholders," Mark Dekan, CEO of Ringier Axel Springer Media AG, said.

"I am very much looking forward to combining the strength of our group with the experience and know-how of Ringier Axel Springer and to further developing our offer in the Baltic region," Povilas Kytra, CEO of CV Keskus OU, said.

Ringier Axel Springer Media AG was established on July 1, 2010 as a joint venture between Swiss Ringier AG and German Axel Springer SE in order to combine their international operations in Central and Eastern Europe. Today, Ringier Axel Springer Media AG manages a portfolio of more than 160 digital and print products in the markets of Poland, Hungary, Slovakia and Serbia.

The company is based in Zurich and has approximately 3,000 employees.