Monster Worldwide, parent company of recruitment site Monster, is acquiring a 50% stake in Australia-based CareerOne as part of its drive to acquire properties outside of the US.
CareerOne is 100% owned by News Corp's Australian arm, News Limited, and claims to be the second largest recruitment firm in the country. Monster has not disclosed any financial terms, but says the two companies will offer joint online and print recruitment services as part of News Limited's portfolio of 140 newspapers. The joint venture will initially carry the CareerOne and Monster brands and will be based in Sydney.
Based in New York, Monster is one of the largest online recruitment companies in the world with more than 46m CVs in its database.
The firm has this year made a concerted effort to move out of the US market because of the worsening economy. Last month, Monster made a push into China after buying out recruitment site ChinaHR for USD174m. It also owns Job Korea and French military site. Armees.com.
In August, Monster announced Q2 profit of USD49m, up from USD42.9m reported for the same period last year. Revenue stood at USD354.3m, up from USD324m.
StrategyEye's related companies: News Corporation, News Limited, Monster Worldwide
