agreed Monday to pay $26 million for French online recruiting site Emailjob.com.
New York online ad and jobs company Monster said the deal boosts its 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, Monster said.
Emailjob.com was founded in 1998. The company generated $9 million in 2004 revenue and was profitable, Monster said, adding that it expects the acquisition to be neutral to earnings in 2005.
"Emailjob.com has a very strong position in the growing market of online recruitment in France," said Monster's Peter Dolphin. "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."
Early Monday, Monster rose 56 cents to $27.95.