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Thursday, February 4, 2010
Monster acquires Yahoo! HotJobs for $225M
By Mass High Tech staff
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Monster Worldwide Inc., the Maynard-based company known for its online employment website Monster.com, has paid $225 million in cash to buy the assets of Yahoo! HotJobs, an online recruitment website, from Yahoo!.
The acquisition deal would make Monster the provider of job and career content on the Yahoo! homepage, provided terms of the 3-year commercial traffic agreement are met. The agreement calls for Monster to receive annual payments from Yahoo! based on clicks of its content. It also enables Monster to develop traffic agreements with other global Yahoo! properties.
Monster (NYSE: MWW) expects to gain a greater number of job seekers searching for employment and an expanded list of job postings across industries, according to a news release from the company. The acquisition of Yahoo! HotJobs will also grow Monster’s connections with local newspapers, and their classified ads, to about 1,000, across all 50 states in the U.S.
As of last July, Monster had 160 workers, including 50 at its Maynard facility, and announced that it would open a new research and development facility in Cambridge’s Kendall Square, for which it was recruiting 80 technical positions at the time.
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