Webmedia buys out Finnish competitor

  • 2011-05-16
  • TBT Staff

TALLINN -- Webmedia, Estonia's most successful software developer, has bought out Finnish competitor CCC for an undisclosed sum.

CCC employs around 170 people and had a turnover last year of 22 million euros. Reports indicate that the deal was mainly made so that the Estonian company would aquire CCC's client list.

Webmedia representatives said at a press conference that they expect the company to increase its turnover to around 40 million eurios this year thanks to the merger.