Eniro Sweeping Away Noncore Assets
Swedish publisher Eniro has been very consistent in pursuing its strategy of shedding assets in small, emerging Eastern European markets so management can focus on making the company the biggest and best publisher in the Nordic markets. To this end, the company recently sold off its Russian operation to a local investor for 5 million euros.
The sale price indicates the problem Eniro faced. Management was spread thin trying to stay on top of operations in markets with revenues of only a few million euros with little hope the operations would gain any real scale anytime soon.
In the meantime, Eniro faced an eroding core product in Sweden, looming competition from search engines and a brutal battle in Finland with its chief rival there. So no more Latvia, Estonia, Russia and the like. Now Eniro is doing deals like its recent acquisition of Findexa, which is right in the company’s strategic wheelhouse.