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Monster Buys French Online Recruiter
By WebProNews
Staff Writer
Article Date: 2005-02-14
Monster Worldwide has bought French online recruiter Emailjob.com from trade show organizer Reed Expositions France.
Found by Didier Ryckelynck, Reed Expositions France is a subsidiary of Reed Elsevier Group plc.
"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."
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.
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