Trader Classified Media N.V., a leader in classified advertising, announces today its acquisition of a majority share in Europeís leading Internet job site www.infojobs.net.
Trader Classified Media has acquired a 60% stake in the business for Ä13.7 million, valuing 100% of the business at Ä22.8 million, and has an option to purchase the remainder. The business was previously 100% owned by Grupo Intercom, an organisation specializing in the setup and development of successful Internet businesses. InfoJobs.net was started in 1998 and has since grown to take the number 1 position in Spain, with an estimated 77% share of the professional job market and a Ä5 million turnover.
Today, InfoJobs.net lists over 63,000 job vacancies from more than 30,000 employers. These can be matched to the more than 1.7 million CVís which are registered and held on the site.
InfoJobs.net offers a highly competitive service where small and medium sized companies can use online e-recruiting solutions for free, while larger enterprises are charged a fee to post job vacancies. These are then matched automatically with suitable job seekers.
Commenting on the acquisition, John H. MacBain, Founder, President and CEO of Trader Classified Media said, ëThe Internet is a key growth area for our Company and we are delighted by the opportunity that this acquisition affords. We now have the leading position in Spain and the competitive technology to develop this business in new markets within Europe and elsewhere.í
Trader Classified Media acquires InfoJobs, Spainís Leading Internet Job Site,
Plans for Further Growth in Europe