Monster Worldwide will acquire French job-search Web site Emailjob.com for US$26 million, the company announced Monday.
Monster Worldwide, the owner and operator of online career network Monster.com, said the purchase will strengthen its position in France, which the company considers a key European market. Additionally, users of Emailjob.com will gain extended reach from Monster's position as a global resume and jobs network, the company said.
Monster, in New York, intends to utilize Emailjob.com's regional office structure and popularity with small and medium-sized to boost Monster France's presence in the local market, the company said.
Emailjob.com, launched in 1998, is owned by Dutch publishing company Reed Elsevier. The site posted revenue of about US$9 million in 2004. The acquisition is not expected to have an effect on Monster's earnings in 2005, the company said.
Monster Worldwide will add the French concern to its growing network. Earlier this month, it announced that it had paid US$50 million for a 40 percent stake in ChinaHR.com Holdings, the holding company for the Chinese job-recruitment Web site ChinaHR.com.
Monster, which reported revenue of US$845.5 million in 2004, said last week that it received 3.3 million new and updated resumes during January, a 23 percent year-on-year increase.