Print
Email
Print Edition Stories
Thursday, February 4, 2010
Monster acquires Yahoo! HotJobs for $225M
By Mass High Tech staff
MHT's Galen Moore: Cambridge Innovation Center celebrates 10th anniversary
MHT's Galen Moore: Honoring innovation in New England
MHT's Galen Moore: New 'hyperlocal' web trend
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.
Comments
If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.
RSS Feeds
