A&N Media, the consumer media business of DMGT, has acquired Jobrapido, one of the world’s largest job search engines. Jobrapido will be combined with A&N Media’s existing digital recruitment group, which is now renamed as Evenbase in order to reflect the wider scope and international reach of the enlarged group.
This acquisition gives Evenbase – which includes Jobsite, OilCareers and Broadbean – access to one of the world’s largest databases of job seekers and a global footprint with strong positions in a number of key international markets.
The completion consideration is €30 million. The Jobrapido management team is incentivised to enhance this valuation over the next few years through an earn-out arrangement based on achieving agreed financial and business performance objectives. Jobrapido achieved revenues of c. €24 million and profits of c. €6 million during calendar year 2011.
Jobrapido was established in Italy in 2006 by its Chief Executive, Vito Lomele. It is the second largest international job search engine in the world, delivering last year 660 million visits from job seekers (most recently 32 million unique visitors in March 2012) in more than 50 countries.
Keith Potts, Evenbase Chief Executive, said: “I’m absolutely delighted to secure such a valuable asset for the group. Candidates are, and will always be, the raw material for recruitment. Jobrapido gives us access to job seeking candidates on a global scale and supercharges the transformation of our business model.”
Martin Morgan, CEO of DMGT said: “Bringing the Jobrapido team into the DMGT group is a great example of DMGT’s core strategy in action. We seek out and acquire market leading businesses with strong positions in rapidly growing international markets. We have a strong culture of entrepreneurial management and like to retain and empower the people who built those businesses.”
UK, London & Italy, Milan
Related articles:
- FindaProperty, Primelocation and Zoopla to merge to take on Rightmove Posted onNovember 7, 2011
- DMGT sells GLM to Providence Equity Partners Posted on October 4, 2011
- DMGT trading update September 2011 Posted on September 28, 2011
- DMGT to sell GLM, the United States’ largest privately-held tradeshow management company Posted on June 10, 2011
- DMGT in “informal” talks to buy Express Newspapers Posted on April 4, 2011
- Could DMGT sell Northcliffe? Posted on November 28, 2010
- DMGT back on the acquisition trail? Posted on November 25, 2010
- Associated Northcliffe Digital acquires 50% of Globrix Posted on January 24, 2010
- Associated Northcliffe Digital buys Dothomes.co.uk and Extate.co.uk Posted on February 1, 2010
- Associated Northcliffe Digital acquires 50% of Globrix Posted on January 24, 2010
- Euromoney Institutional Investor to acquire Ned Davis Research Group for £69M Posted on June 21, 2011
- Euromoney Institutional Investor PLC acquires Arete Consulting Posted on August 13, 2010
- Euromoney sells EIC to Broadfern September 2007
Fusion Corporate Partners 