Skip to main content

Monster.com Sold to Dutch Employment Agency Randstad for $429 Million

Monster.com Sold to Dutch Employment Agency Randstad for $429 Million
Dutch temporary employment agency Randstad announced Tuesday it is buying up US jobs site Monster for $429 million (EUR 386.8 million or roughly Rs. 2,868 crores), boosting its foothold in the United States.
"Under the terms of the merger agreement, Randstad will pay $3.40 per share in cash, or a total purchase price of approximately $429 million," the group, based in the Diemen suburb of Amsterdam, said in a statement.
Based in Massachusetts, Monster is a global online jobs listing site which first launched more than 20 years ago as an early pioneer of e-commerce on the Internet.
It now offers its services across 40 countries.
Randstad said it aimed to leverage Monster's network "to build the world's most comprehensive portfolio of HR (human resources) services".
"In an era of massive technological change, employers are challenged to identify better ways to source and engage talent," said Randstad chief executive Jacques van den Broek.
Under the deal, Randstad is offering $3.40 per share in cash some 22.7 percent up on Monster's closing price on Monday.
Randstad will finance the merger through existing credit facilities, and the acquisition is expected to be completed by the final quarter of 2016.


Last year, Randstad employed 29,750 people in 4,473 branches in 39 countries around the world, with a turnover of 19.2 billion euros

Comments

Popular posts from this blog

Airtel To Offer Free 3GB Mobile Data Per Month to Bring Customers to Its 4G Network

  03 January 2017 HIGHLIGHTS Offer is valid to both existing and new Airtel subscribers Both prepaid and postpaid users can avail the benefits Customers will get 3GB of free data over and above their pack Airtel on Tuesday unveiled an offer under which users can avail of free mobile data worth up to Rs. 9,000 for 12 months. The offer is meant to attract users to the  Airtel 4G  network, and is targeted at 4G handset users currently on other networks, as well as Airtel customers upgrading to a new 4G handset. India's biggest telecom operator, Airtel said that the free data offer will be available across India starting Wednesday, and will be valid till February 28. Under the free data offer, customers will get 3GB of free data every month till December 31, 2017, as long as they are using select Airtel 4G prepaid and postpaid plans. Airtel is providing the free mobile data over and above the subscribed plan's benefits. Free ...

Nokia 6.1 Gets a Price Cut in India Ahead of Next Week's Nokia 6.1 Plus Launch

  Dated: 18 August 2018   HMD Global is selling the Nokia 6.1 at a reduced price in India via its official site Highlights Nokia 6.1 seen to get up to a Rs. 1,500 price cut 3GB RAM variant is priced at Rs. 15,499 & the 4GB model costs Rs. 17,499 Nokia 6.1 Plus has been spotted online ahead of its launch Nokia 6.1 Plus is expected to be unveiled in India on August 21 and ahead of the launch, Nokia licensee HMD Global has dropped the price in India of the Nokia 6.1 or Nokia 6 (2018). Launched in India in April, the Nokia 6.1 was globally unveiled at MWC 2018 in February, but had first been launched in China in January. Later in May, HMD Global had launched another variant of the smartphone. Now, both the variants have received up to a Rs. 1,500 price cut in India. Meanwhile, Nokia 6.1 Plus, the global variant of Nokia X6 that was launched in China in May, has now surfaced online with that name. ...

Hello Moto: A Look Back at Six Classic Moto Phones

  12 December 2016 HIGHLIGHTS Motorola was the first company to ship a cellphone Its biggest hit was the Moto RAZR V3 Today, Motorola is a part of Chinese electronics giant Lenovo Recently, we relived the past with Nokia’s most memorable phones of all time. Although there may be a lot of fanboys and fangirls of the Finnish brand, many have equally strong feelings for the daddy of all mobile phone brands - Motorola. Its name will forever be etched in history as the  first company  to sell a mobile phone - the DyanTAC 8000X - in 1983. Since then, Motorola has been an easily identifiable brand to almost everybody in the world. Its designs were often strikingly unique and at the same time, Motorola phones often gave out a vibe that these devices mean business. Today, we’ve handpicked some of the most memorable Motorola phones we’ve come across. Here are our picks for the six most memorable Motorola phones of all time. 1) Motorola ...