Monster Worldwide, the parent company of the leading global online careers network Monster, announced today the acquisition of Emailjob.com, a leading online recruiter in France, from trade show organizer Reed Expositions France, a subsidiary of Reed Elsevier Group plc., and company founder Didier Ryckelynck.
The acquisition of Emailjob.com establishes Monster’s leadership position in France, strengthens Monster’s position in a key European market, and unites two of the leading players in the French online recruitment sector. With its regional office structure and established presence with small and medium-sized businesses, the acquisition of Emailjob.com also provides Monster France access to the increasingly important local market sector.
Users of Emailjob.com will benefit from the reach and offerings from the leading global online careers network. Following this acquisition, Monster will be able to offer its customers an even larger choice of qualified applicants.
Emailjob.com, founded in 1998, generated revenues of approximately $9 million in 2004 and was profitable. Monster Worldwide anticipates that the acquisition will be neutral to its earnings in 2005. Total consideration for the transaction is approximately $26 million with approximately $23 million due at closing and $3 million payable over a 12 month period following closing.
Emailjob.com has a very strong position in the growing market of online recruitment in France, says 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.
Monster Worldwide announces strategic acquisition of French Online Recruiter Emailjob.com
Acquisition expands Monster’s reach, capabilities and footprint in key european market
