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Press release

Alma Media increases its ownership of DOKS Service

Alma Media

Alma Media Corporation        Press release      30 April 2024 

ALMA MEDIA INCREASES ITS OWNERSHIP OF DOKS SERVICE 

Alma Media Corporation has increased its ownership in Suomen Tunnistetieto Oy, a company formed by anti-money laundering law experts and application development professionals, to 75%. The company's DOKS service provides an effective and secure digital tool for managing obligations under the Anti-Money Laundering Act, sanctions monitoring, and generally identifying and knowing the customer (Know Your Customer, KYC process). 

DOKS service was launched in 2019. In 2023, the company's turnover exceeded 1 MEUR. Alma Media Corporation has increased ownership of the company in stages: in the summer of 2021, 25% was acquired and in April 2023 its ownership rose to 51%. The now completed share transaction is a continuation of the previous acquisitions, and the final phase of the acquisition will be carried out next spring according to the agreement. 

"Alma Media is seeking growth in scalable digital services for businesses. Increasing regulation is accelerating the demand for services that support compliance processes," says Juha-Petri Loimovuori, Director in Alma Media. 

The DOKS service provides its customers with a smooth, versatile and automated tool for managing their obligations under the Anti-Money Laundering Act and sanctions monitoring, while also supporting the implementation of good governance, risk management and compliance with ethical business principles. 

"Collaboration with Alma Media Group strengthens the additional benefits to our ever-growing customer base. In recent years, legislation and the authorities' regulations and guidelines have been undergoing a major change. DOKS helps to ensure that one does not violate the provisions of the Anti-Money Laundering Act, or the obligation imposed to all companies and entities to follow the sanctions in place," states Petteri Tenhunen, the founding partner of Suomen Tunnistetieto Oy.

For more information: 

Juha-Petri Loimovuori, Alma Media, tel. +358 500 511 03 

Petteri Tenhunen, Suomen Tunnistetieto Oy, tel. +358 41 502 4018 

Distribution: NASDAQ Helsinki, key media, www.almamedia.fi

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