Alma Media acquires Bovision.se

According to Dagens Industri (Swedens largest economical newspaper), the Finnish media corporation Alma Media has purchased the Swedish sites Bovision.se and Objektvision.se. (The news site What.se quotes unnamed sources that the price was between 20 to 30 million SEK.)

Bovision is a listing of residential houses with 130 000 visitors per week. The runner up on the Swedish market after Hemnet.se. Objektvision lists commercial properties for lease and has 8 000 visitors per week. The article states that the revenue was 17 million SEK (2,4 million USD).

The press release from Alma Media includes the statement "online internet sites for business and residential premises had a market size in Sweden of roughly EUR 150 million in 2005. Price levels of home-buying internet services are lower today in Sweden than in Finland and Norway".

Online listing for residential will be an interesting field to follow when Hemnet.se (owned by the brokers themselves through the brokerage organisations FMF and Mäklarsamfundet) surely will make the most of it to protect their position.