Irish-based, Saongroup.com, the international online recruitment advertising and software group, today announced its acquisition of local job portal, P-Net for an undisclosed amount from iLab Holdings, an affiliate of the worldwide EPI-USE organization and a member of the Magnisol Group of Companies.
Group CEO, Ken Fitzpatrick comments: ìSaonGroup now operates in 12 different markets across 4 continents. Our recent international expansion has been in emerging markets where internet penetration and the use of the internet by jobseekers and recruiters is rapidly growing. This is why the South African market was of great interest to us.î
Established in 1999 in Ireland, Saongroup.com has expanded rapidly over the past 8 years and reported revenue of Ä16m in 2006, with 2007 already a further 70% up on last year. The groupís acquisition of South African based P-Net is part of its expansion of its vibrant international portfolio and follows its launch of Dubai-based Recruitgulf.com in June, Indian-based myjobsinpune.com in July and a new UK website called jumptojobs.co.uk in August.
P-Net was established in March 1997. P-Net managing director, Greig Smith says this early entry enabled it to gain a foothold in the local online recruitment advertising market. By delivering exceptional service, the company has managed to cement its place as one of the top job portals in the country. ìNow, with the acquisition by SaonGroup, we will be able to bring a broader range of services to recruiters and career seekers and will be expanding our offering to both corporates and recruitment agencies. SaonGroup has successfully developed service offerings for both recruitment agencies and corporates in many other markets and we look forward to adapting these to meet the needs of the South African market,î comments Smith.
Fitzpatrick says: ìI look forward to working with the P-Net management team. Significant expansion is on the cards to facilitate a growth strategy. Our goal with the acquisition of P-Net is to continue their trend of rapid expansion, enabling P-Net to capitalize on the growth in internet usage in South Africa.î
ìWhile traditional print media will always have a place in recruitment advertising, worldwide recruiters are increasingly realizing the importance of utilising online as part of their candidate sourcing mix,î continues Fitzpatrick. ìOnline recruitment has widened access to the labour pool for recruiters. Nielsen/NetRatings recently reported that internet usage in South Africa had grown at the rate of 50% per year over the last two years and, with this medium becoming more accessible and affordable, penetration is set to continue growing.î
P-Net currently advertises 14 500 jobs monthly, from entry level to executive and board level across all of South Africaís market segments, has 300 000 registered users and 9,5 million unique monthly page impressions. PNet has approximately 500 customers. ìRecent desktop research undertaken by P-Net showed that recruiters and corporates find this an effective medium, in fact some 89% said that online recruitment advertising was a critical tool in their candidate sourcing mix,î continues Smith.
Smith is excited about this development as it brings much needed foreign investment to the country with job creation spinoff and the latest in international online recruitment advertising methodology.
Fitzpatrick concludes: entering the South African market presents an exciting growth opportunity for Saongroup.com. The local recruitment industry is robust and with our planned upgraded product range, P-Net is set for a bright future.î
Saongroup plans to work with member companies in Magnisol to establish partnerships in markets outside of South Africa. Magnisol is recognised as a world leader in the provision of E-Recruitment solutions based on SAPís mySAP ERP Human Capital Management.
South African jobs portal P-Net acquired by Irish-Based Saongroup.com
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