HeadHunter Group sells CV Keskus OÜ

HeadHunter Group, online HR-solutions leader operating in Russia, Ukraine, Belarus, Kazakhstan and other countries, today announces the sale of 100% of the shares in CV Keskus OÜ, operator of leading job classifieds sites cvkeskus.ee in Estonia, cvmarket.lv in Latvia and cvmarket.lt in Lithuania to Ringier Axel Springer Media AG.
HeadHunter Group sells CV Keskus OÜ

CV Keskus OÜ was established in Estonia in 2000. The company expanded to Latvia and Lithuania in 2004. CV Keskus OÜ has been owned by HeadHunter Group since 2007. During that time company took leading position on its markets, as it has reached 1,8 mln monthly visitors (source: Google Analytics Feb 2017), 6 000 job ads monthly and 1 mln active CV’s in database (internal source). Povilas Kytra, who works for the group for the past 10 years, will remain CEO.

Mikhail Zhukov, HeadHunter CEO (Russia): “We are really impressed by CV Keskus OÜ growth in the last years. We are confident that the expertise and power of Ringier Axel Springer Media AG will help CV Keskus OÜ to continue great dynamics on the market. HeadHunter will focus its resources on developing new and innovative digital HR solutions on its core markets.”

Mark Dekan, CEO Axel Springer Media AG: “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.”

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