Monster Buys Yahoo HotJobs Assets
Posted on February 3, 2010Monster Worldwide, Inc. has acquired the assets of Yahoo HotJobs from Yahoo for $225 million in cash. Monster and Yahoo have also entered into a three agreement in which Monster will become Yahoo's provider of career and job content on the Yahoo! homepage in the United States and Canada.
Sal Iannuzzi, chairman, chief executive officer and president of Monster Worldwide, says in the deal announcement, "HotJobs with its significant customer base plus the traffic agreement are an ideal complement to Monster's innovative recruitment solutions and global reach. These agreements, combined with Monster's career Communities and our recently introduced 6Sense semantic search technology, will bring substantial new benefits for employers seeking more qualified candidates and job seekers searching for more relevant opportunities across a wider range of industries - globally."
The move will make Monster an even bigger jobs site and will allow Yahoo to exit the jobs business while still showing job opportunities (now from Monster) on yahoo.com. It seems like a smart deal for both parties.