Monster completes acquisition of HotJobs

Posted by Erina Lin on August 25, 2010 at 11:33 AM

Global online recruiting site Monster has completed its acquisition of Yahoo!'s HotJobs for $225 million (£145 million), Recruiter reported.

Monster also inked a three-year commercial traffic agreement with Yahoo!. According to the deal, Monster will become Yahoo!'s provider of career content and will pay $20 million to $31 million a year to Yahoo! for the redirected traffic, Boston Herald reported.

The deal helps Monster expand its reach into U.S. The combined unique visitors of Monster and HotJobs will reach 130 million, which accounted for 62 percent of total U.S. online population. It also helps expand Monster's newspaper partnerships from 400 to 1,000, thanks to 600 HotJobs newspapers providing local reach in all 50 states, CNET reported.

Yahoo will place Monster on its home page in both U.S. and Canada.

"The combination of Monster and HotJobs gives European employers simple and rapid access to a bigger pool of candidates based in U.S. This is a significant strategic advantage for employers that are competing on a global stage for the best talent," said Andrea Bertone, head of Monster Europe.