Monster plans purchase of French jobs site
15 February 2005
Monster Worldwide has announced plans to acquire Emailjob.com.
The French jobs search website is currently owned by Dutch publishing concern Reed Elsevier and company founder Didier Ryckelynck.
New York-based Monster, a leading job search company, has agreed a price of $26 million for Emailjob.com and claims the acquisition will strengthen its position in a key European market. Monster will pay $23 million at closing and $3 million over the next year.
The operator of the world's largest job search website said the acquisition of Emailjob.com unites two leading players in the French online recruitment sector.
"Emailjob.com has a very strong position in the growing market of online recruitment in France," said Peter Dolphin, CEO of Monster Worldwide Europe. "The acquisition of this company is another example of Monster's strategy of continuing to expand its position of leadership in Europe. When we consider that job migration is expected to increase significantly in Europe, acquisitions in such key markets as France will prove to be very significant for us."
With its regional office structure and established presence with small and medium-sized businesses, Monster said the purchase of Emailjob.com also provides Monster France with access to the local market sector.
Founded in 1998, Emailjob.com generated revenue of around $9 million last year.
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