ARN

Yahoo sells HotJobs to Monster for $225 million

Under the deal, Monster will provide job listings info on Yahoo's Web sites for three years

Job-hunting service provider Monster Worldwide is to buy Yahoo's HotJobs Web site for US$225 million under an agreement announced between the companies on Wednesday.

As part of the deal, Monster will provide career and jobs content on the Yahoo home page for three years in the U.S. and Canada. In return, Yahoo will make annual payments to Monster based on clicks and how many people express interest in job postings. Monster will be able to negotiate similar deals with Yahoo subsidiaries in other countries.

It's the latest move by Carol Bartz, who became Yahoo's CEO early last year, to narrow the company's focus and try to accelerate its growth. Yahoo has been losing share in the search market to Google and Microsoft.

Last year Bartz signed a deal to outsource Yahoo's search operations to Microsoft. Under the five-year plan, Yahoo will use Microsoft Bing as its underlying search engine, while Yahoo will handle premium search advertising sales for both companies.

The combination of Monster and HotJobs will reduce competition in the market, but Monster said it should also make it easier to match job openings with job seekers, since two separate resources will now be pooled together.

"Through the combination of Monster and HotJobs job postings, job seekers will have access to more job opportunities in one place in those industries currently leading job creation, including healthcare, finance and insurance, retail, manufacturing, information and wholesale trade," the companies said in a statement.

Monster said it will be able to offer employers a larger pool of candidates in more geographies and industries. HotJobs averaged 12.6 million unique visitors per month last year, Monster said, citing Media Metrix comScore figures.

The deal is subject to antitrust and other regulatory approvals, the companies said. They expect it to close in the third quarter, subject to approvals.

Come socialise with us! Facebook | LinkedIn

More about: Google, Media Metrix, Microsoft, Monster, Yahoo

Comments

Post new comment

The content of this field is kept private and will not be shown publicly.
Users posting comments agree to the ARN comments policy.
Login or register to link comments to your user profile, or you may also post a comment without being logged in.
Related Coverage
Related Whitepapers
Latest Stories
Community Comments
Tags: Yahoo, Monster, jobs, careers
ARN Directory | Distributors relevant to this article
Aquion , ASI Solutions , Avnet Technology Solutions , Bluechip Infotech , Compucon Computers , Dicker Data , Express Data , Express Online , Impact Systems Technology , Ingram Micro Australia , Leader Computers , Leading Pacific Australia , NewLease , Simms International (For Simms International please see Express Online) , Synnex Australia , Topstar Computer International , Westan , XiT Distribution , Xpress I.T.
rhs_login_lockGet exclusive access to ARN's news, research and invitation only events.
ARN Distributor Directory
Find distributors by name | vendor | location
Channel Deals
/deals/synnex/2012-02-09_423_february-march-hot-deal
Synnex

Lenovo February & March Hot Deal

More details »
ARN Vendor Directory
Find vendors by name | category

iAsset is a channel management ecosystem that automates all major aspects of the entire sales,marketing and service process, including data tracking, integrated learning, knowledge management and product lifecycle management.