NYSE listed Monster Worldwide Inc has acquired Yahoo!’s Hotjobs sub site for $225 million, AFP reported. The deal is more of a ‘give and take’ – Monster will power job classifieds for Yahoo!’s homepage in the United States and Canada for three years and deliver annual payments to it. The transaction will close in the third quarter of 2010.
Monster operates in three business segments: Careers (North America), Careers (International), and Internet Advertising & Fees. In 2008, Monster acquired China HR.com Holdings Ltd (ChinaHR), Trovix Inc and Armees.com.
What Monster Gets
A boost in traffic and more candidates, for starters. Hotjobs.Yahoo.com apparently receives 12.6 million visits per month, according to comScore ratings. These will now be redirected to Monster’s own job classifieds site.
Monster also expands the reach of its recently introduced, proprietary 6Sense precision search technology for job seekers which it developed from its acquisition of Trovix Inc. 6Sense is a Beta product that powers a search suite: Power Resume Search, Candidate Spotlight and Seeker Job Search.
Monster also gets an exclusive right, following the closing of the acquisition, to negotiate similar traffic agreements with Yahoo!’s other global properties in Europe, Asia and Latin America.
Monster.com will now offer job seekers “access to more job listings in healthcare, finance and insurance, retail, manufacturing, information and wholesale trade”.
It will also be able to offer more online and print classified ads from local newspapers as HotJobs had alliances with 600 dailies and weeklies. Now, Monster’s alliances grows to 1,000 newspapers. This will mean more job listings from the healthcare, education, and skilled and hourly job categories.
Since top jobs classifieds site in India Naukri.com does not have such a deal with any of the Internet giants, Monster might now have an edge over it. Other websites in this scene are: TimesJobs and Techgig.com from the BCCL Group’s stables; Consim Info‘s ClickJobs.com; job aggregator Bixee.com and Simplyhired.co.in.
What Yahoo Gets
Yahoo has managed to dispose off of one more property that it it believed was not core business: CEO Carol Bartz had made the decision to focus on being a media company, and the display advertising business in particular.
Monster will deliver to Yahoo “performance based” annual payments that are “calculated by clicks and expressions of interest” according to the details of the traffic agreement.
Recently, IGNOU demanded to know why a Yahoo! powered online entrance test crashed as soon as it had begun. Yahoo also invited criticism from users of its photo sharing site Flickr for turning the Safe Search option permanently on in India.