Professio Finland Oy agreed to acquire Tieturi Oy and Management Institute of Finland MIF Oy from Wetteri Oyj (HLSE:WETTERI) for ?5.1 million on February 14, 2024. The purchase price is based on the net working capital calculation at the time of execution and the adjustments made to it. The buyer will pay 40% of the purchase price in cash at the time of execution and 10% on 30th June 2024.

For 50% of the purchase price, Wetteri grants an interest-bearing loan with a loan period of 5 years of which the first two years are instalment-free. The work-life training business will continue as part of Professio Group, whose core competences are in education business. Tieturi and Management Institute of Finland MIF had revenues of ?4.722 million and ?4.824 million respectively for the year 2023.

The EBIT of both the entities were ?0.417 million and ?0.129 million respectively. Execution of the transaction is conditional on fulfillment of the conditions for execution agreed on by the parties. Implementation, if the conditions are met, is estimated to take place on 2nd April 2024.