Werner Söderström Corporation (WSOY) which belongs to the SanomaWSOY Group will become shareholder in leading Polish multimedia company. Under a private placement directed to WSOY, it will subscribe to 27.8 % of the shares in Young Digital Poland. The participation will correspond to 24.9 % of the total votes in the company.
Young Digital Poland's areas of special expertise include digital learning environments, especially CD-ROM and Internet applications developed for language education, which have also been localised to the national environments in several countries. The Gdansk based Young Digital Poland was established in 1990, and it employs about 50 persons. In 1998, the net sales of the company amounted to FIM 13 million which is expected to double in 1999. The result has been consistently profitable, and Young Digital Poland intends to reach a strong position in the European market. WSOY?s interest in Young Digital Poland is based on the opportunities offered by the Polish market.
WSOY is Finland's leading multimedia publishing company whose net sales from electronic publications will approach FIM 20 million in 1999. The importance of the creation of digital learning environments will be further accentuated now that WSOY has been granted a license to operate a digital educational TV channel.
Werner Söderström Corporation is a wholly owned subsidiary of Sanoma-WSOY Oyj, with net sales of FIM 1,256 million in 1998. The pro forma net sales of the SanomaWSOY Group for 1998 totalled FIM 7,443 million.
Vice President, Investor Relations and Group Communications
For additional information:
Mr. Jorma Kaimio, Executive Vice President, Literary Director, WSOY; tel. +358 9 6168 3358;
Mr. Mikko Laine, Director, WSOY New Media; tel. +358 9 6168 3557
DISTRIBUTION: Helsinki Stock Exchange, principal media